Who: GrowthZone Pay customers
What: Some GrowthZone Pay customers will be asked to enter additional information into their Stripe (GZ Pay) setup screen. If your account is one of those where additional requirements are needed, you'll see an Alert icon in the menu bar at the top of the screen. Once the requirements for additional information have been met, the alert will no longer display.
When: You may see this alert starting December 2, 2021.
How: Please follow the on-screen instructions to satisfy the requirements.
The alert notification will look like this:
When you click the "Learn More" link you'll see the following GZ Pay - Action Required message:
In addition to this initial red notification alert and message, you'll see other notices as well:
- Payment Gateway setup screen - See example.
- Editing the specific GrowthZone Pay gateway - Top of screen example, Bottom of screen example
- After clicking the link to open Stripe - See example
FAQs:
- Why are we being asked for more information? From time to time Stripe may be required to collect additional information by their financial service regulators, card networks, and other financial institutions. Stripe has an upcoming deadline of January 12, 2022 of their own that is causing them to ask many of their existing customers for additional information.
- Will this be a one-time request? Not necessarily. This immediate request coming through has a deadline of Jan 12, 2022. But as time goes by, they may have other requests for additional information. If the requirement change and additional information is needed in the future, the process above will be the same each time.
- Will this affect existing customers only? No, this will be for any new GZ Pay customers as well. In fact, new customers will now be warned in this same manner when they haven't yet completed all the requirements for setting up their new GZ Pay account. The only difference is that the message will say 'Action Required!" instead of "Upcoming Action Required!" In the case of new accounts, the information will be required immediately in order to use your account.
- What happens if we do not complete the requested information? Generally speaking, requirements that are not met may result in suspension of deposits or, in rare cases, may even lead to termination of your account at the discretion of Stripe. GrowthZone has no control over whether or not an account is terminated due to lack of action.
- What does it mean when it says there is a deadline of Jan 12, 2022? If the Jan 12 deadline is not met, the "Upcoming Action Required" message will turn into an "Action Required" message and then you typically have about 2 weeks before your deposits would be suspended.
- Why do I have both an Action Required and Upcoming Action Required message? In some cases, your account may have information that is due now (Action Required message) and information that is not due until an upcoming date (Upcoming Action Required message). A date will always display in the Upcoming Action Required message so you know the approaching deadline. The Action Required message does not have a date; it could be restricted any day.
- I'm now seeing a green "Default" checkbox next to one of the gateways. Is that new? Yes. We've known that it would be helpful to see 'at-a-glance' which gateway was the default without having to click in. Since we were already in this area, we added that in as a bonus! See example.