Before you can use financial accounts, cards, and bills, you'll verify your business and identity with Stripe. Setup takes about 10 minutes. Only the account owner can complete it, and it's available to US-based businesses only.
Have these ready before you start:
Your legal business name and EIN (or your SSN if you don't have an EIN)
Your business address, phone number, and website
The legal name, date of birth, home address, and SSN of the account representative and of anyone who owns 25% or more of the business
The routing and account number for the bank account you want payouts sent to
Start setup
Click Money in the left sidebar.
Click Set up financial accounts.
In Confirm legal names, check the legal first and last name for each team member listed. These names come from Durable profiles and are used to create a cardholder profile for each person, so they need to match government ID.
Click Save and continue.
On Add information to start accepting money, click Add information. A secure Stripe form opens.
Enter your phone number and the verification code sent to it. Use a real number you have access to.
Choose your business type
Choose Individual, Company, or Nonprofit organization. If you haven't registered your business as a legal entity, choose Individual.
If you chose Company, choose your Business structure: Sole proprietorship, Single-member LLC, Multi-member LLC, Private partnership, Private corporation, or Other/I'm not sure.
Click Continue.
Add your business details
Enter your Legal business name exactly as it appears on your IRS documents, including capitalization and punctuation.
If you trade under a different name, enter it in Business name (Doing Business As).
Enter your Employer Identification Number (EIN). If you use your SSN for business tax purposes, enter that instead.
Enter your Business address. This is the physical location where you operate.
Enter your Business phone number, Industry, and Estimated worker count.
Enter your Annual revenue for your most recent fiscal year. There's no minimum revenue.
Enter your Fiscal year end in YYYY/MM/DD format.
Enter your Business website.
Write a 1 to 2 sentence Product description, for example: "We provide web design services to small businesses."
Click Continue.
Add the account representative and owners
The account representative must be someone with significant control over and management of the business. If that isn't you, ask that person to complete this step.
Enter the representative's legal first and last name, email, date of birth, home address, phone number, and the last 4 digits of their SSN. The SSN can't be skipped.
If the representative owns 25% or more of the business, check I own 25% or more of the company.
Add every other person who owns 25% or more, with their legal name and email.
Click Continue.
Stripe may ask for a full SSN or ITIN, or a photo of a government-issued ID, if it can't verify someone from the details provided.
Add your payout account
This is the bank account your payouts are sent to. Checking and savings accounts are both supported.
Choose your bank from the list to connect it, or click Enter bank account credentials instead.
If entering details, add your Routing number and Account number, then confirm the account number.
If you're asked to save your account with Link, click Save, or Finish without saving.
Click Continue.
Add your public details
These details are shown to your customers.
Enter a Statement descriptor. This is how charges appear on your customers' card statements. Use something close to your business name or website, so customers recognize the charge and are less likely to dispute it.
Optionally, enter a Shortened descriptor of 3 to 10 characters.
Enter your Customer support phone number and choose whether to show it on receipts and invoices.
Enter your Customer support address.
Click Continue.
Use the same support details your customers see on your website.
Review and submit
Check each section. Anything incomplete is marked in red. Click Edit to fix it.
Read the terms, then click Agree and submit.
If you see Submit before verification is complete?, click Submit.
After you submit
You'll see Financial accounts setup is in review. Review usually takes 24 hours and can take 2 to 3 business days. Financial accounts, cards, and bills aren't available until it's approved, and the Cards tab shows Card setup is in review.
If Stripe needs more information, an Action required banner appears on the Money page. Click Review and follow the steps.
About Durable Money
Durable Money is powered by Stripe. Durable is not a bank or a money transmitter. Durable partners with Stripe Payments Company for money transmission services and account services with funds held at Fifth Third Bank N.A., Member FDIC. Durable Visa® Commercial Cards are powered by Stripe and issued by Celtic Bank. Stripe Issuing balances are provided in the US by Stripe Payments Company, licensed money transmitter, with funds held at Stripe's bank partners, Members FDIC.
For more information about how Durable Money works, including FDIC pass-through insurance eligibility, see Get Started with Durable Money.