When setting up Stripe for payments through BookLive, you will need to provide various information during the onboarding process. This guide explains what is required and why.
Why Stripe Needs This Information #
Stripe is required by law to verify identity and business information for anyone accepting payments. This helps prevent fraud, comply with Know Your Customer regulations, protect you and your clients, and enable reliable payouts to your bank.
Personal Information Required #
You will need: legal name (as on government ID), date of birth, Social Security Number (last 4 initially, full may be required), home address, phone number, and email address.
Business Information #
For individuals/sole proprietors: business name (can be stage name), business address, industry type (Entertainment/Music Services).
For LLCs and corporations: legal business name, DBA name if different, EIN (Employer Identification Number), business address, state of incorporation, business phone.
Bank Account Information #
To receive payouts you need: bank name, account number, routing number, and account type (checking or savings). The account must be in your name or business name.
Additional Verification #
Stripe may request: identity verification (photo ID, selfie), address verification (utility bill, bank statement), or business verification (articles of incorporation, EIN letter).
Common Issues #
Name mismatch: use legal name exactly as on ID. Address mismatch: use current address matching documents. SSN issues: double-check for typos. Bank account rejected: ensure account is in your name.
Data Security #
Your information is securely transmitted to Stripe following PCI compliance standards. BookLive does not store your full SSN or bank details.
