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Opening Stripe Account for use with ExpensePlus

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Step-by-Step Guide to Setting Up a Stripe Account for Charities and Applying for Charity Rates

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  1. +

    Set up your Stripe account:
    + Go to the Stripe website and click "Start now." During the sign-up process, you'll be asked several questions about your business. As a charity, follow these instructions:

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    2. + +
  2. +

    Fill out the business questions:
    +

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    • Business Type: Select "Charity."
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    • Business Representative: Enter the name of a trustee (this is the individual representing the charity).
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    • Business Owners/Executives: Select "N/A - Charity."
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    • Business Directors: List the trustees of the charity (not just one, if there are multiple trustees).
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    + You will also be asked for the director's details, including date of birth and address. This should be a trustee of the charity. +

    Here’s an example of the section you will see:

    + Stripe Business Setup +
    3. +
  3. +

    Set your payout schedule to manual:
    + Once you’re in your Stripe account setup, you'll be asked to select a payout schedule. We recommend setting this to Manual so you can initiate payouts when needed. You can choose a manual payout schedule or an automatic schedule, such as every 2 weeks or monthly, to reduce the frequency of statement downloads. This is especially helpful for managing your bookkeeping in ExpensePlus. Here’s an example of what the payout schedule section looks like:

    + Stripe Payout Schedule +
    4. +
  4. +

    Email Stripe to apply for charity rates:
    + After your account is set up, email Stripe at nonprofit@stripe.com with the following message:

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    +								  Subject: Request for Charity Fee Rate
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+								  Dear Stripe,
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+								  I have just set up a Stripe account that we can use to receive donations for our charity [insert charity name]. I attach the UK Charity Commission registration document. This email address is the one associated with the Stripe account: [add the email address associated with your account]. More than 80% of payments received to our charity are tax-deductible/tax-free donations. Please could we be granted the charity rate on the fees? Please let me know if you need any further information or if I need to do anything else.
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+								  Kind regards,
+								  [Your Name]
+								  [Your Role]
+								  [Charity Name]
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    5. + +
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    Wait for Stripe's confirmation:
    + Stripe will process your request and get back to you. If approved, your account will be set up with the charity rate on fees.

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    6. +
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Important Notes:

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As per Stripe’s instructions, you may also see a request for your EIN or IRS 501(c)(3) designation if you're in the U.S. However, since this applies to U.S.-based organizations, you can ignore the 501(c) part and instead send Stripe your UK Charity Commission registration document. Here's the part of the instructions about eligibility for the charity discount:

+ Stripe Nonprofit Discount Details + + +
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