KB Article #7407
Once an account is set up in Stripe, dealers can receive payments for orders processed with Payments Powered by OEC. It is important to keep this account updated, by verifying account details, managing users, and updating if bank information or other business details change.
Click an option below to learn more.
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Users can be added to your Stripe account to have access to features within Stripe. Instructions can be found directly on Stripe's website: Invite Team Members to Access Your Stripe Account.
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For assistance verifying banking, account, or tax information, click an option below to learn more.
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If Stripe cannot automatically verify the bank account information provided for a Stripe account, it will impact a dealer's ability to use Payments Powered by OEC. Stripe provides specific guidance on how to address this issue.
Note: Stripe must review an official document confirming the Stripe owner and bank account owner names match, as well as the last 4 digits of the account number, in order to verify an account. Click here for more information on the documentation needed.
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If Stripe is unable to verify a user's identity electronically, they may request additional documentation in order to verify the individuals connected to the Stripe account used for Payments Powered by OEC. Stripe provides specific guidance on how to address this issue.
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The following information is available to Payments Powered by OEC users who need assistance verifying their Tax ID: (Click the links below for more information.)
- Tax ID verification guidelines by business type in the U.S.: Provides guidelines of what business information commonly matches with the IRS, sorted by business type.
- "Verify your tax information" error messages in Stripe: Provides guidance on what users should do if an error message displays in Stripe.
- Reverify Tax ID information in the Stripe Dashboard: Provides details on what to do if prompted to reverify or re-enter your Tax ID information.
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Banking, account, and tax information for a Stripe account can be updated at any time. Click an option below to learn more:
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If banking information associated with Payments Powered by OEC has changed, it can be updated directly from the Stripe Dashboard. Stripe provides specific guidance on how to address this issue.
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If someone is leaving your organization or if the responsibility of Stripe account ownership is shifting, Stripe allows you to move ownership of the account used with Payments Powered by OEC to another individual. Stripe provides specific guidance on how to address this issue.
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If you recently changed your business' tax information--such as having moved from an LLC to a Corporation entity type--Payments Powered by OEC users with Administrator permissions in Stripe can update the tax ID number and tax details. Stripe provides specific guidance on how to address this issue.
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