Why is the home address verification needed?
Stripe needs address verification for several reasons:
Compliance with "Know Your Customer" (KYC) obligations: Stripe is required to verify that account holders are operating from the business addresses they provide in their account application. This helps ensure that businesses are legitimate and operating in accordance with legal requirements.
Prevention of disputes and fraud: Stripe can improve the detection of fraudulent activity by collecting and verifying address information. Failed address verification checks, such as mismatched postal codes or street addresses, can indicate potential fraud, allowing you to review the payment more carefully before fulfilling the order.
Enhanced security and privacy: Stripe's identity verification process, Stripe Identity, includes layered verifications to confirm a user's identity and reduce the risk of account takeovers. Stripe handles and stores verification data with privacy and security in mind, reducing compliance burdens for businesses.
Acceptable documentation for home address verification
Below are examples of documentation we can accept for this verification. All documents must include either the name of your business or the name of the owner of the Stripe account.
Bank statement
Utility bills (water, electricity, gas, internet)
National registry extract
Source: Stripe documentation
What does the home address verification process look like?
1. Notification email
You get an email from us with the subject "Action required - Update business information to continue accepting Card Payments", where we notify you that to continue accepting card payments, you need to provide some additional documents to Stripe.
Here is what the email looks like:
2. Provide the documents
You have two options for how you can provide the needed information:
You can upload documents by clicking the "Upload information" button", which redirects you to Stripe.
You can send the documents to us by answering the email that is shown in the previous step. To see what documents are exactly needed, click on the "Upload information" button".
3. Wait for Stripe to review your information
Whether you or we have submitted the needed information to Stripe, we need to wait for them to review it.
If any additional information is needed, we usually contact you from our side to make this process smoother and faster.
If you have additional questions and need our help, feel free to contact our support team via the chat in the bottom right corner.