Verifying your identity in Stripe

Verifying your identity

Before adding a bank account, you'll need to verify your identity with our payment processor, Stripe.

To verify your identity:

1. In Sigmund, click Settings in the side bar, then click Billing
2. Click the button that says "Change Account Type" to clarify whether you'll be adding a company account or an individual account
   • If you're a solo practitioner, please select "Individual" and use your Social Security number (SNN) to verify your identity
   • If the bank account you will be using is linked to a registered business entity, please select "Company" and then use your Employer ID Number (EIN) and information about your business to verify your identity
3. Once you've selected the correct account type, click the "save" button in the pop up window 
4. Click on the green "Verify your identity" button
   • Our payment processor, Stripe, will walk you through verifying your identity and you'll be asked to enter all the pertinent information

If you're having trouble with identity verification, visit our FAQ. 

You can review these steps in our video below:

What gets verified when you submit your documents

Stripe verifies the following when you submit your documents

• Business ownership: Confirmation of the identification information you provided when setting up your account
• Bank account ownership: Confirmation that the information you provided on your account matches the account owner of the bank account added
• Physical location of business: Confirmation of the physical address of your business
• Website ownership: Confirmation that your website is working and is owned/maintained by your business 

Entering your business name based on how it appears in your tax documents

For Stripe to verify your information with the IRS, the legal name and tax ID must match the information displayed exactly on an IRS-issued document. In some cases, you may need to enter the full name including capitalization, symbols, and punctuation. Visit Stripe's Help Center for additional information and examples. 

Some additional tips

• It's a common naming convention for LLCs to include both the owner name and the business name
• The full name must be entered exactly as displayed on these forms, including upper/lower case, symbols, and punctuation placement
• If there are several lines above the address, enter all details on one line separated by single spaces
• Personal bank accounts cannot be used if registering identity as a business
  • Providers are required to provide a bank account registered to their legal business entity to receive payouts from Stripe
    
    

Which pieces of identification to submit based on business type 

Re-verification of your identity

Our third-party payment processor may sometimes require re-verification of your identity. 

Stripe reviews the submitted documents for re-verification within 24-48 hours of submission to ensure it matches the information provided. Because of this, there may be a delay between document submission and identity verification.