How do I set up an individual online payments account?

Before you set up online payments, you will need to go through the verification process. If your account is verified, you can go straight to the online payments setting and set up Online Payments account. There are two types of accounts:

Note! You are able to set up Online Payments account only when you are connected with your property manager and their Online Payments account is verified.

Note! Online Payments account is available in the US only.

An individual account must be activated by an executive, senior manager, or someone who otherwise has significant responsibility for the control and management of your business.

You will be asked to enter basic information. Your account will be able to fulfil payment requests and receive money from personal and businesses registered in our system. There are no limits on the number of transactions you can do each day, each week, or each month. Per transaction, the limit is $10,000.

To set up an Individual account, go to the main Settings menu, and click on the “Set up” link in the "Online payments” section.

Then select Individual Account as the type:

Enter basic information, including Legal First/Last Names, Phone Number, DOB, SSN, and Home Address. Once the information is provided, please double-check it and press the Submit & Next button to proceed.

In the last step, you will want to add a bank account. Enter the Account name, and then you can add a bank account using the Instant or Manual verification method.

Note! The account holder name must match your company's legal business name or DBA registered with your bank.

For Instant verification, you will need to log into your banking account and select the bank account you would like to add. This bank account is verified instantly, and no further actions are needed.

For Manual verification, you will need to add your Routing and Account numbers. You will be automatically sent micro-deposit(s) for your bank account verification. Here is how to proceed:

Stripe will send one $0.01 deposit or two micro-deposits to your bank account. With the 1 single deposit on your bank statement, its description will contain a 6-digit descriptor code that starts with “SM”. The code IS the descriptor (not with or without). With the two deposits, you will need to provide the exact deposit amounts.

Once you receive the deposit (s), go back to Online Payments settings, view the list of bank accounts, and click on the three dots near the account name → Verify to provide the amounts of the micro-deposits you received or the descriptor code and verify your bank account.

Important note! You have three attempts to enter the correct micro-deposit amounts for verification. If you don’t verify your bank account within 10 days after adding it, it will be automatically removed.

Once the setup process is completed and information is submitted and verified, you will be able to accept payments from your tenants and pay online.

It's important to know that Stripe may request some additional information to be submitted to verify your account. In this case, you will see the “Provide information“ button and the disclaimer stating what needs to be added to the Online Payments menu.