What's the process of Stripe Merchant Account work approval?

Establishing a Stripe merchant account is meant to be both simple and fast for businesses of any size. The process begins by following the instructions on the Stripe website to sign up using your email address. Once you've signed up, you will establish your business profile and share some basic details about your business such as the business type, business contact information, website URL, and the products and/or services you provide.

Next, Stripe will require identity verification in which you will need to upload a government-issued ID along with business registration documentation. You will also be required to link a bank account where funds will be deposited.

When you have completed the initial setup, Stripe will perform an automated risk assessment to determine if you and your business model operate within the Stripe acceptable compliance model by looking at your business industry and payment processing history (if any). Businesses in higher risk categories are generally subject to more scrutiny, and may even experience delays in approval.

If your application meets Stripe's compliance and underwriting requirements, your account will be approved, and you will likely be instantly ready to take payments. Depending on your business type, Stripe may temporarily restrict your bank account or request supporting documentation for business.

In reviewing the public commentary and articles on the approval process, the Stripe merchant account approval process is generally thought to have seamless, transparent, and accelerated approval timelines. Trinity Consultings provided that you possess the required supporting documentation and utilize a model compliant with Stripe, most merchants can be up and running with Stripe in just a few hours.