Stripe processes the donations and pays them out to you, and it may not make a payout until it has verified who is receiving the money. You provide that information from your WhyDonate account.
Why verification is needed
Stripe is supervised and licensed to offer payment services. Legislation obliges it to register and verify the recipients of funds. Without successful verification, Stripe may not make disbursements.
What is required
Private account
- First and last name.
- IBAN of the account you want to be paid to.
Company account
- Chamber of Commerce number of the organization receiving the funds. An organization registered outside the Netherlands provides its business registration documents instead, including a tax certificate.
- IBAN of the organization's business account.
Additional information can be requested once the total amount you have collected passes €1,500. In other currencies the threshold is a different figure.
- A copy of your ID, or confirmation of your identity.
- A completed UBO statement from the organization.
- ID proof or online identification of the legal representative.
How long it takes
Stripe usually verifies customers within a few hours of receiving everything it asked for. Donations can already be made during that time, but they can only be paid out after the submitted information is approved. If anything is missing, you will be contacted by email.
Note: if a bank account holder name is requested during verification, it is shown on the fundraiser page along with the last 4 digits of the bank account number. This comes directly from Stripe and we cannot hide or remove it.