Electronic check deposits (ECD) is available to U.S. businesses and includes a short identity check ("KYC," or Know Your Customer) with our payment processor, Stripe.
Who's eligible
A few things determine whether ECD is a fit for your business:
Business location: Only businesses registered in the United States are eligible.
Business use only: ECD is for business use. We can only electronically deposit checks made out to your business’s legal name or DBA.
Business owners & authorized persons: Owners and authorized individuals can reside in over 150 countries. In some cases, Stripe may require a more detailed review before approving individuals based on their country of residence.
Restricted and high-risk jurisdictions
In compliance with U.S. sanctions, Stripe Treasury prohibits electronic check deposit services for transactions linked to certain high-risk countries and regions.
Who should complete the verification
Stripe verification should be completed by someone who exercises significant control over the company. In our experience, that's typically either:
An owner — someone who owns a significant share of the company, typically 25% or more
Someone who exercises significant control — a person responsible for managing and directing the business. This is often a senior executive or manager, such as a CEO, CFO, COO, President, Vice President, Treasurer, Managing Member, or General Partner.
You'll be asked for their personal details, and they'll confirm their own identity.
If the right person isn't a user on your Stable account, choose "Share Stripe verification link" during account creation. This gives you a secure link to share with the right person to complete the Stripe verification directly.
What you'll be asked for
1. Quick setup in Stable
The legal entity receiving deposits.
A physical U.S. business address — a residential address, or a leased/owned office or business location. It cannot be your Stable address, a PO box, a virtual mailbox, a mail-forwarding or registered-agent address, or a CMRA.
Your company bank account (account and routing number) where funds are sent.
Deposit and transfer preferences (automatic vs. manual deposits, and how often we sweep funds to your bank).
2. Verification with Stripe
Business details — legal business name, "doing business as" name, tax ID, and business address. Your legal name and EIN must match your IRS documents exactly. If you use your Social Security number for business taxes, you can enter that instead of an EIN.
Account representative — the name, email, job title, date of birth, and home address of the person with significant control who is completing verification. This person also confirms their identity by submitting a photo of their government-issued ID and a selfie.
Business owners — details for any individuals who own or control a significant share of the business.
Supporting documents (sometimes) — for certain businesses, Stripe may request additional documentation, such as business formation documents.
A few things to know
Approval can take some time. Most accounts are approved quickly, but if Stripe needs an additional review, holding-account creation can take longer. We'll notify you as soon as it's ready.
Multiple entities are verified separately. If your business has several legal entities, each should complete its own verification. (See How do check deposits work?.)
If you're unsure who at your company should complete verification, reach out to us at [email protected] and we'll help.
Stable partners with Stripe Payments Company for money transmission services, with funds held at Fifth Third Bank N.A., Member FDIC.