Starting September 16, 2022, Nacha, the organization which governs ACH payments, will require that every micro-deposit includes the descriptor “ACCTVERIFY” in the company entry description field. As a result of this change, we will be making changes to Amount and Descriptor Code methods.

• Amount

  • The description field currently reads “AMTS: <amount1>,<amount2>”.

  • On September 7, 2022, the description field will now be “ACCTVERIFY”.

• Descriptor Code

  • The description field currently contains Stripe’s 6-digit verification code that starts with “SM”.

  • On September 7, 2022, we are moving that 6-digit descriptor code to the beginning of the company name field. The Checkout and Payment Element UIs will automatically update to show customers the new code location.

What you need to do

• To ensure that your customers understand how to identify micro-deposits, we recommend updating any of your own customer support resources to reflect these changes.

• For Descriptor Code method, you will need to provide a shortened statement descriptor via the Stripe Dashboard. This descriptor should be the name of your company as recognizable to your customers. This shortened descriptor will help ensure that longer company names are not truncated on customers’ bank statements.