What this does: Lists the information and documents Stripe may ask Canadian organizations for, so GZ Pay keeps working without interruption.
Applies to: GZ Pay accounts for organizations based in Canada.
Before you start: Have phone numbers, names and emails for your representatives, directors and owners, plus a document that proves who your directors are.
Time needed: About 15 minutes, plus Stripe review time.
Stripe regularly reviews and updates its verification requirements to stay current with financial regulations and ensure businesses that use Stripe are compliant. There are several differences between the US and Canada's verification process due to different laws in Canada outside of GrowthZone or Stripe's scope of regulation. This article covers what Canadian organizations need, so GZ Pay keeps working without interruption.
What information Stripe may collect
Depending on your business type, you may need to provide some or all of the following information:
- Phone numbers and titles of representatives (required by all businesses)
- Names and email addresses of directors if your business is a corporation, registered charity, or non-profit organizations
- Names, dates of birth, and email addresses of owners if your business is a corporation or partnership (for partnerships, an owner is defined as any individual owning 25% or more of the entity)
- A business phone number must be provided by all businesses except individual entities and sole proprietorships
Documents you can use for verification
For the full list, see Stripe’s acceptable verification documents (Stripe site). Below is a list of valid documents for Canadian customers as Proof of directorship. Please list all individuals who are directors on the document you are using. If a person is listed on one of these documents below as being a director, you will have to provide their personal information in Stripe. If they are NOT on the list of the provided document and you add them as a director, there will be an error as your information does not match the document provided.
Due to regulatory guidelines that GZ and Stripe cannot control, Stripe is required to collect information on your corporation's directors. Please be sure to enter this information correctly, as we may verify this information with provincial or federal business registries.
Important notes
- The best document to upload is the FIRST document recommended to upload.
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If you are adding an individual that is also on the governing board of the company (like a director on the document you chose to submit), you must check the box shown in the below screenshot or your documents will not match. If there is an error on your documentation, please review if all directors are listed from the document you provided and review if all directors that are also added individuals have the below box checked.
- If there are 20 directors on the document that you provide, then you will need to add ALL 20 directors to your list of business directors so that your documentation will match. You will need to add another director until the list matches the document you provided. All personal information added, like email addresses, on your list MUST MATCH the documentation you provided.