Stripe Set up Guide

Step-by-Step Guide: How to Set Up a Stripe Account (Start Accepting Payments)

What you’ll need before you start

  • A business name (or your legal name if you’re a sole proprietor)

  • Your personal info (legal name, DOB, home address)

  • Business info (address, phone, website or product/service description)

  • Bank account + routing number (to receive payouts)

  • A government-issued ID (Stripe may request verification)

  • Your tax info (SSN/ITIN for individuals, EIN for businesses—varies by country)

1) Create your Stripe account

  1. Go to Stripe’s signup page.

  2. Click Start now (or Sign up).

  3. Enter your email, full name, and password.

  4. Check your inbox and verify your email (Stripe sends a verification link).

Tip: Use your business email (like yourbusiness@gmail.com) so everything stays organized.

2) Choose your country and business type

  1. Stripe will ask where your business is located—select your country.

  2. Select your business type, such as:

    • Individual / Sole proprietor

    • Company / LLC / Corporation

    • Nonprofit (if applicable)

Why it matters: Stripe collects different details depending on business type.

3) Add business details

  1. Enter your business name (or personal name if operating as an individual).

  2. Add your business address and phone number.

  3. Add your website.

    • If you don’t have one yet, Stripe usually allows:

      • A link to your store platform (Shopify, Amazon, Etsy, etc.), or

      • A simple landing page, or

      • A description of what you sell (depending on region)

  4. Choose your industry and describe what you sell.

Best practice: Be clear and specific (ex: “custom printed t-shirts” vs “retail”).

4) Set your customer support info (important)

  1. Stripe may ask for customer support email/phone.

  2. Use an email you can monitor regularly.

Why this matters: Disputes/chargebacks and Stripe notices often go here.

5) Add your bank account for payouts

  1. Go to Payouts / Bank accounts (Stripe will guide you here during setup).

  2. Enter:

    • Routing number

    • Account number

    • Account holder name (must match your business/individual name)

  3. Confirm any verification prompts Stripe provides.

Tip: Use a checking account dedicated to your business if possible.

6) Verify your identity (KYC)

Stripe commonly requires identity verification to prevent fraud.

  1. Enter your legal name, date of birth, and home address.

  2. Provide your SSN (last 4) or full SSN/EIN depending on your setup.

  3. If prompted, upload:

    • Driver’s license or passport

    • Possibly a selfie or additional document

Important: Make sure everything matches your legal documents exactly.

7) Configure what you’re selling (products/services)

During onboarding, Stripe may ask about:

  • Whether you sell physical products, digital goods, or services

  • Whether you take pre-orders or delayed delivery

  • Shipping timeframes and refund policy

Best practice: Match your real process (Stripe uses this for risk review).

8) Turn on 2-factor authentication (do this right away)

  1. Go to Settings → Security.

  2. Enable Two-step authentication.

  3. Use an authenticator app (recommended) and store backup codes somewhere safe.

9) Choose how you’ll accept payments (pick one)

Stripe is flexible—choose what fits your business:

Option A: Payment Links (fastest, no website needed)

  1. Go to Payment Links.

  2. Click Create payment link.

  3. Add product name, price, and settings.

  4. Share the link with customers via text/email/social.

Option B: Stripe Checkout (best for websites)

  1. Use Stripe Checkout through your website builder or developer.

  2. Works well with Shopify/WooCommerce/custom sites.

Option C: Invoicing (great for services)

  1. Go to Invoices.

  2. Create an invoice and email it to a client.

  3. Stripe handles the card payment for you.

Option D: POS / In-person payments (if needed)

  1. Set up Stripe Terminal (requires compatible hardware).

  2. Best for local sellers and pop-up events.

10) Test payments before going live

  1. Stripe accounts start in Test mode for development.

  2. If you’re using Payment Links/Invoices, confirm you’re creating live links when ready.

  3. Make a small test purchase (if possible) once live to confirm payouts.

11) Review key settings (quick checklist)

In Settings, confirm:

  • ✅ Business details are accurate

  • ✅ Bank payouts are set

  • ✅ Branding (logo/statement descriptor) is correct

  • ✅ Email receipts are enabled

  • ✅ Refund policy and customer support details are correct

Statement descriptor tip: Use a name customers will recognize to reduce chargebacks.

12) Go live and monitor your first payouts

  1. Once you accept your first payments, check:

    • Balance

    • Payout schedule

    • Transactions

  2. Stripe may hold the first payout longer for new accounts—this is normal in many cases.

Common issues (and quick fixes)

  • “Website required” → Add a store link (Shopify/Etsy) or a simple landing page describing products, pricing, and support contact.

  • Verification failed → Ensure legal name/address match your ID and bank details.

  • Payments paused/reviewed → Update business description, refund policy, shipping timelines, and submit any requested documents quickly.