Stripe Unified Connect Onboarding Guide

Overview

Schools will be given a school specific URL to initiate registration with Stripe. These URLs expire after 7 days. If a new URL is required, please contact your CSM.

Tips before you start

1. There is no ‘back’ button - Once you select the Type of Business, you will not be able to change it as it dictates the process that follows. For all other data points, you will have the opportunity at the end of the process, i.e. during the ‘Summary’ stage, to make updates

2. Complete all fields as you go - Although not all fields are required on the first pass, they will need to be completed when you reach the Summary. Save time by completing them upfront.

3. Read through the steps for your business type in full before you begin the onboarding process and gather the information you will need so you can complete the onboarding process in one sitting. Types of information you might need:

   1. Business details including ABN, ACN, address, phone number, industry, website, bank account, etc.

   2. Your personal details and that of your colleagues, including name, home address, date of birth, job title, phone number

   3. % of ownership

   4. Scans of identification documents

4. There are many variations to onboarding. The scenarios included in this guide show just one way of completing it based on Non-profit company type, but it should give you a good idea of what to expect.

Onboarding Steps

Step-1 - Getting Started

As a first step, the onboarding entity will have to enter their Email Address. If you have an existing Stripe account, you can use the same email address and this in certain instances could give the onboarding entity an option to re-use legal entity information from its existing account that would auto-fill some parts of the onboarding process for them.

Open

In case of a new email, the onboarding entity will be asked to create a Stripe account

Open

Step-2 - Provide your mobile number

You will be able to verify your account in future using this mobile number and you would also be able to use this number for two-step verification during login to your account if you choose receiving SMS OTP as a verification option.

Step-3 - Download and securely store the backup code to access your account

Your backup code can be used to disable two-step authentication on your account in case you lose all your devices used for the second authentication step. It is very important to keep this secure—possession of your password and backup code results in full access to your account.

Step-4 - Provide Business Details

The requirements to complete onboarding will change depending on the country and type of business.

Types of businesses are:

1. Public or proprietary company

2. Partnership

3. Trust

4. Individual / Sole Trader (with or without ABN)

5. Not-for-profit (incorporated association, unincorporated association, cooperative, other)

See documentation here for further details.

Screens below show the typical flow for a Not-for-profit (Unincorporated)

Fill in the Business name and ABN details (relevant for Australian entities)

Fill in the executive(s)’ details

Step-5 - Provide Bank Account Details

Enter the details of the bank account you would like Stripe to send your payouts to. The form will change dynamically depending on the country requirements. This example shows the requirements for Australia.

Step-6 - Add Public Business Details

These details include Card Statement Descriptor i.e. the long and short descriptors and your support contact number. Your statement descriptor is the business name that appears on your customer’s credit card statements. It is important to use a recognizable name that will not lead to unintended disputes.

Step-7 - Review and Finish Up

Review the summary of the details that have been entered and update any missing information as needed.

Step-8 - Redirect

Upon successful completion of the onboarding process, you will be redirected back to your platform based on the link configured as the redirect link when creating an account request.