Why do I need to provide an SSN when setting up my Direct Deposit Account for payouts?
It is our goal as a company to keep your information safe and allow you to run your business securely.
One of the ways that RoverPass does this is by using Stripe as the secure payment processor to process your money when a camper makes a reservation. Stripe is a leader in the industry when it comes to Online Payments and provides the tools necessary to make sure that your information is handled carefully.
If you choose to be paid out via Direct Deposit (recommended to get you your money quickly!), you will click on Direct Deposit in your Owner Portal and you will be prompted to set up a Stripe Connect Account directly from there.
Sole Proprietorship:
- If your business operates as a Sole Proprietorship, please choose Account Type: Individual.
- From there, you will continue to set the account up under your own name and Social Security Number - (Not Your Business Name. Your SSN must match your name).
- See more about why this is important here.
Corporations and LLCs:
- If your business is not a Sole Proprietorship, please choose Account Type: Business.
- From there, you will set the account up under the Business Name and EIN exactly as they appear on your SS-4 form
- See more about why this is important here.
As part of KYC Regulations, Stripe will ask for further verification of your account as you process more money. All accounts (regardless of Type: Business or Type: Individual) will be required to associate a person and that person's SSN with the account. In the case of a Corporation or Public Property, it is typically the CEO, CFO, highest level manager, or treasurer that provides this information. Please visit this article for more information.