Updates to required verification information

Last updated: Nov 21, 2021

To comply with the Payment Services Act, we’ve made some changes to the onboarding form for new Singapore connected accounts. These changes require additional identification and verification details for certain users. We’re introducing these changes to existing accounts gradually. We require Custom Connect platforms to incorporate these changes within their onboarding forms. For Standard and Express platforms, we’ll incorporate these changes to our onboarding forms and roll the changes out to your connected accounts.

The following list contains additional identification and verification information that we require for each business type.

In addition, we now require additional verification for some connected accounts. These are connected accounts onboarding as individuals, or accounts used for the following activities: financial services, receiving donations, or rewards-based crowdfunding. We classify users who require these additional identification steps as Customer Due Diligence (CDD) users, and those who don’t require these steps as Basic Due Diligence (BDD) Users.

You can find the full list of required identification and verification information for onboarding Singapore Stripe accounts on our required verification information page.

Corporations and private limited companies

Charities, non-profits, clubs, societies, or other unincorporated entities

Individuals

Partnerships and sole proprietors

We now support creating custom connect accounts for partnerships and sole proprietors as new entity types. Refer to the requirements for partnerships and sole proprietors.