Supported countries of residence
While Stable’s electronic check deposit service is only available to U.S.-based businesses, there is some flexibility for business owners and authorized persons:
Business location: Only businesses registered in the United States are eligible to use the service.
Business owners & authorized persons: Owners and authorized individuals can reside in over 150 countries globally. However, in some cases, Stripe may require a more detailed review before approving individuals based on their country of residence.
Restricted and high-risk jurisdictions
Stripe Treasury imposes strict restrictions on using electronic check deposit services for transactions linked to certain high-risk countries and regions. This is in compliance with U.S. sanctions and regulations:
Prohibited Jurisdictions: Stripe Treasury prohibits any dealings or services involving Cuba, Iran, North Korea, Syria, and the Crimea, Donetsk, and Luhansk regions of Ukraine.
These restrictions help mitigate financial risk and ensure compliance with international sanctions.
Know Your Customer (KYC) requirements
As part of compliance with Stripe Treasury’s terms, all businesses and their owners must complete a Know Your Customer (KYC) verification process during onboarding. This process is essential for maintaining regulatory compliance.
Verification process: Stripe collects and verifies key details about the business and its owners. In some cases, additional reviews may be conducted for individuals residing in certain countries to ensure that all activities align with legal and financial regulations.
For more detailed information on electronic check deposits, visit our support page: How do check deposits work?
Stable partners with Stripe Payments Company for money transmission services and account services with funds held at Fifth Third Bank N.A., Member FDIC and Evolve Bank and Trust, Member FDIC.