What data does Stripe access from my linked financial account? : Stripe: Help & Support (2024)

FAQs

What data does Stripe access from my linked financial account? : Stripe: Help & Support? ›

What data does Stripe access from my linked financial account? With your consent, Stripe may access and store copies of the following financial information types from your account: Account details, including account number and routing number, account type, and account nickname.

Stripe and its service providers use and store personal data including cardholder PANs, contact information, and transaction history to authenticate cardholders using one time passcodes and knowledge of past transactions.

Verify your bank account. Facilitate the processing of your requested payments. Mitigate fraud, financial loss, or other harm to you, your merchant, and Stripe. Assess your eligibility for and offer you our other products or services.

To transact on Stripe, Stripe must verify: Business identification (address and website ownership) and bank account information. Supportability of your business: what you sell, and if we can support your product/category. The overall risk level of your business.

When you first set up your Stripe account, we ask you to connect your bank account so that you can receive payouts. If you want Stripe to access additional account information, you can link a financial account.

Is my financial account information safe? We maintain organizational, technical, and administrative measures designed to protect financial account information against unauthorized access, destruction, loss, alteration, or misuse.

Stripe has various U.S. tax reporting requirements both to account holders and to the U.S. Internal Revenue Service (“IRS”). The main reporting requirement Stripe has is based on payment processing.

Stripe encrypts sensitive data both in transit and at rest. Stripe's infrastructure for storing, decrypting, and transmitting primary account numbers (PANs), such as credit card numbers, runs in a separate hosting infrastructure, and doesn't share any credentials with the rest of our services.

If you are a merchant or platform that has access to the standard Stripe dashboard, you can disconnect your financial accounts at any time by visiting your linked accounts settings page and unlinking any of the linked accounts by clicking “Manage” and selecting “Remove account".

Linking banking accounts makes it possible to conduct transactions between them electronically. You can link bank accounts at the same bank or between different financial institutions.

What does Stripe connect to? ›

Connect is the core Stripe product for multi-party business models, including Marketplaces and Platforms. It allows a business to take a payment from a customer and split it between several other businesses.

These requirements come from our regulators and are intended to prevent abuse of the financial system, provide your potential customers with clear and useful information, and prevent material loss to your business or to Stripe.

If you use a website, social media profile or mobile app to promote your business or sell products, Stripe needs to review it to understand your business and verify what you are selling in order to comply with financial regulations. See “Know Your Customer” obligations.

Stripe Treasury is built in partnership with a network of banks, including Goldman Sachs and Evolve Bank & Trust, to enable you to embed banking services in your platform.

Yes, before Stripe debits your bank account, you will receive an email notification from Stripe. The debit will also show up in your Stripe dashboard as a negative payout.

You can only have one bank account for payouts per currency.

You can add one bank account per supported settlement currency. If you use multiple bank accounts, you must select a default settlement currency, which you can change at any time.

If Stripe obtains your financial institution login credentials, we do not share them with your merchant. Although most financial institutions provide Stripe with access to all of the data associated with your accounts, we will only use your financial account information as outlined in our Privacy Policy.

A Business User may authorize Stripe to share your Personal Data with other Business Users to facilitate the provision of Services through Stripe Connect. The use of Personal Data by a third party authorized by a Business User is subject to the third party's privacy policy.

These requirements come from our regulators and are intended to prevent abuse of the financial system, provide your potential customers with clear and useful information, and prevent material loss to your business or to Stripe. You can read more on that here.