Updates to US verification requirements
support.stripe.com
Updates to US verification requirements
1–10 of 95 posts
Re: Updates to US verification requirements
#2They don't even really specify this in their link in the email sent, but I am getting this error when going to my dashboard now:
Invalid address. Your business address must be a valid physical address from which you conduct business and cannot be a private mailbox. Please correct the following...
So now, I have to find a new business address (either rent a place, or do a virtual office), which isn't as simple as just getting a new address. I then have to update every single account online or in person that uses it, and officially ask my state's SoS to update my biz info. There is probably other stuff I am not even thinking of in this moment as well. In addition, Stripe wants me to get a new biz address before March 13th or "payouts" will be impacted. Not processing! They are happy to use my money to make money for themselves and hold it like they have done to others in the past indefinitely.
This is all probably related to CTA and BOI changes that began this year that are seemingly affecting small biz more than the corporate entities that this bill supposedly was about.
https://home.treasury.gov/news/press-releases/jy1974
Once again, Thanks Stripe. It's been real, but it's probably time to move on.
Re: Updates to US verification requirements
#3They don't even really specify this in their link in the email sent, but I am getting this error when going to my dashboard now: Invalid address. Your business address must be a valid physical address from which you conduct business and cannot be a private mailbox. Please correct the following... So now, I have to find a new business address (either rent a place, or do a virtual office), which isn't as simple as just…
There are competitors to stripe. Why people keep submitting themselves to their abuse is beyond my comprehension.
Re: Updates to US verification requirements
#4Many people at RenFaires and music festivals use Stripe. This is going to wipe them out as customers. Also fully remote businesses. It's clear to me Stripe wants brick and mortar businesses, or online businesses that have an office. Which I find sad, because they're abandoning a bunch of customers depending on them. Though it is an opportunity for some startup to cater to those customers.
Re: Updates to US verification requirements
#5They don't even really specify this in their link in the email sent, but I am getting this error when going to my dashboard now: Invalid address. Your business address must be a valid physical address from which you conduct business and cannot be a private mailbox. Please correct the following... So now, I have to find a new business address (either rent a place, or do a virtual office), which isn't as simple as just…
This is the message I see in my account:
> Invalid address. Your business address must be a valid physical address from which you conduct business and cannot be a P.O. Box. This address is not shared publicly and can be your personal address. You may use a P.O. Box as your customer support address.
So in other words, a personal home address should work.
Although its odd your error message is seemingly saying a personal address doesn't work, unless "private mailbox" means a privately rented commercial box, like UPS
Re: Updates to US verification requirements
#6They don't even really specify this in their link in the email sent, but I am getting this error when going to my dashboard now: Invalid address. Your business address must be a valid physical address from which you conduct business and cannot be a private mailbox. Please correct the following... So now, I have to find a new business address (either rent a place, or do a virtual office), which isn't as simple as just…
There are competitors to stripe. Why people keep submitting themselves to their abuse is beyond my comprehension.
Do these competitors need to follow a different set of KYC/AML regulations than Stripe?
Re: Updates to US verification requirements
#7Mercury also rolled this out recently. got the email yesterday.
Re: Updates to US verification requirements
#8They don't even really specify this in their link in the email sent, but I am getting this error when going to my dashboard now: Invalid address. Your business address must be a valid physical address from which you conduct business and cannot be a private mailbox. Please correct the following... So now, I have to find a new business address (either rent a place, or do a virtual office), which isn't as simple as just…
There are competitors to stripe. Why people keep submitting themselves to their abuse is beyond my comprehension.
Would be interested in a list of the competition. (too lazy to do my own research)
Re: Updates to US verification requirements
#9Many people at RenFaires and music festivals use Stripe. This is going to wipe them out as customers. Also fully remote businesses. It's clear to me Stripe wants brick and mortar businesses, or online businesses that have an office. Which I find sad, because they're abandoning a bunch of customers depending on them. Though it is an opportunity for some startup to cater to those customers.
How will any of this hurt those businesses?
Re: Updates to US verification requirements
#10Many people at RenFaires and music festivals use Stripe. This is going to wipe them out as customers. Also fully remote businesses. It's clear to me Stripe wants brick and mortar businesses, or online businesses that have an office. Which I find sad, because they're abandoning a bunch of customers depending on them. Though it is an opportunity for some startup to cater to those customers.
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