When payment processing regulations change, our payment processing provider, Stripe, may require additional information or verification from you to satisfy anti-money laundering and Know Your Customer standards. If information is required, Subsplash will send an email on Stripe's behalf to the Giving Account Owner (GAO) and all Giving Managers. This information must be updated within the timeline specified in the email to ensure donations are processed without interruption.
Depending on the information needed, your GAO may be the best individual to complete the verification as there may be some personal information required. Therefore, when an email is received, please ask your GAO to log in to the Subsplash Giving Dashboard, select the Welcome menu option, and click the blue Verify Information button under Step 1 to complete the requirements.
If the current Giving Account Owner is no longer with your organization, please view our article on transferring the GAO and contact Subsplash Support.
FAQs
FAQs
What Are Know Your Customer Standards?
What Are Know Your Customer Standards?
Know Your Customer (KYC) references information required as part of Stripe’s mandatory identity verification requirement: Stripe must collect, verify, and maintain information on the individuals associated with every US Stripe account, as required by regulators and financial partners. This is intended to promote transparency and prevent individuals from using complex company structures to hide terrorist financing, money laundering, tax evasion, and other financial crimes. (Stripe, 2024)
What is a Personal ID?
What is a Personal ID?
A Personal ID refers to a Social Security Number (SSN) or, for Canadian Clients, a Social Insurance Number (SIN).
Why Do I Need to Supply My Full Social Security Number (SSN)?
Why Do I Need to Supply My Full Social Security Number (SSN)?
In order to process transactions, there must be an individual representing the organization, within Subsplash this is known as the Giving Account Owner (GAO). Initially, the GAO only needs to provide the last four digits of their SSN/ITIN. However, they will be required to provide their full nine-digit SSN/ITIN at $500K of the account’s lifetime payment volume to confirm Stripe has the correct SSN/ITIN on file. (Stripe, 2024)
Subsplash does not see or store sensitive information such as SSN, payment methods, etc; this information is solely held by Stripe. Stripe is a PCI Level 1 compliant company. Level 1 is the most stringent level of certification available in the payments industry, and they are required to comply with regulators such as the federal government.
No One Owns the 501(c)(3), Why Does Stripe Need My Personal Data?
No One Owns the 501(c)(3), Why Does Stripe Need My Personal Data?
Know Your Customer (KYC) obligations for payments require Stripe to collect and maintain information on all Stripe account holders. These requirements come from regulators and are intended to prevent abuse of the financial system.
The information Stripe is required to collect differs from country to country, and typically includes (but is not limited to):
The individual creating the Stripe account
The business associated with the Stripe account
Any individuals who ultimately own or control that business
Stripe may reach out periodically to confirm the information on your account is still accurate. (Stripe, 2024)
Stripe works with various organizations; therefore, the language may not translate adequately to 501(c)3s or ministries. For example, the term “owner” could be replaced with representative, manager, president, etc.
What is a Connected Date?
What is a Connected Date?
Stripe may ask for a Connected Date; this refers to the date the Subsplash Giving Account was opened. Oftentimes, this can be satisfied using the date of the first donation given. However, if this is not accepted, please contact contact Subsplash Support for assistance.
Will Stripe Accept a P.O. Box?
Will Stripe Accept a P.O. Box?
Stripe requires a valid physical US or CAN address; unfortunately, they cannot accept a P.O. Box as a valid address. (Stripe)
A street address is a physical address that indicates the location of the recipient. A P.O. Box is a mailing address that uses an alternate location as the recipient.
Many Post Offices can provide an alternate street address for your P.O. Box that includes the physical location of the building. However, if this is not possible, we recommend looking into a UPS mailbox. This mailbox will provide you with a valid street address.
How do I Verify Directorship? (Canada)
How do I Verify Directorship? (Canada)
If your Corporation, Registered Charity, or Non-Profit Organization resides in Canada, Stripe may be required to verify your directors’ information.
To verify the information on directors (members of your business’s governing board) you have submitted to your account, Stripe will check the name of each director and the number of directors listed on the registry. If your directors’ information submitted to Stripe cannot be found, does not completely match the information in the registry, or if your business name or address submitted to Stripe does not completely match the name and address listed on the registry of businesses, you will have to update the information with the registry or review the information provided to Stripe.
Please see the “Relationship” tab on the acceptable verification documents page for a list of acceptable documents to complete Director Verification. You will need to submit a document that accurately lists all directors and matches the directors entered on the Stripe account. (Stripe)