When this applies
Setting up payouts takes two steps in the app: tax info first, then bank info. Both are under Settings, and you need both to finish getting started. Stripe, the company that handles your payouts, checks both. Your Social Security number goes to Stripe, not into our records.
What to do
Get ready
- Have these on hand: – Individual: your legal name as it appears on your tax return, your SSN, your date of birth (you must be 18 or older), and your legal address. – Business: your business name, your EIN, and your legal address. – Bank: an account in the same name as your tax info, and either your routing and account numbers or your online banking sign-in.
Add your tax info
- Open the hamburger menu (three horizontal lines, top left), tap Settings, then tap Tax Info.
- Pick your Legal Entity Type. Choose Business only if all three are true: – You have your EIN in hand, not just applied for. – You want to be paid as your business, not yourself. – You have a registered business (an LLC, corporation, or partnership).
If any one is not true, choose Individual. You're paid under your own name, and setup is faster.
- Enter your details. Use your name as it appears on your tax return.
- Save. If the app asks you to agree to the Stripe Connected Account Agreement, check the box first.
Add your bank info
- Open the hamburger menu, tap Settings, then tap Bank Info.
- Tap Link Bank Account and sign in to your bank when it opens.
Check you finished both
- Finishing one step doesn't finish the other. You need both tax info and bank info.
What happens in the app
Tax Info opens a screen titled "Provide tax info." Bank Info opens one titled "Connect your bank account."
- Choosing Individual or Business wrong is the most common setup mistake. It can delay your first payout.
- The name on your bank account should match the name on your tax info. If they don't, a payout is more likely to fail. This matters most when your Stripe account is under a business name and your bank account is under your own name, or the other way around. The account type (personal or business) doesn't have to match your tax ID type.
- You can link a bank by signing in to your bank, or by typing in your routing and account numbers. The app takes US banks only.
- These accounts work: Chime, NetSpend, GoBank, and Green Dot Bank. These don't: Venmo, PayPal, Cash App, and prepaid cards (cards without a routing number).
- Payouts to a Green Dot Bank account are held for 7 days after you add or update it.
- Our system can detect when a bank account is associated with more than one Pro account.
- Payouts go out every Monday. A payout goes out only when all four are true: you have a balance to pay out, Stripe hasn't flagged a problem with your tax info, Stripe has confirmed your account, and a customer payment has come in recently.
- Separately, if your tax info isn't verified and your unpaid payout balance reaches $600, Stripe pauses your payouts until you finish it.
- Stripe creates your 1099-NEC. It's mailed by US Postal Service to the address you gave us when you entered your tax information, one per Pro. A 1099 is a tax form. It doesn't change when you're paid.
How you'll know it's done
Once you save your tax info and bank info and Stripe confirms your account, your payouts go out in the Monday run as long as the payout checks pass.
Something not working?
- Linking your bank fails: tap Link Bank Account and try again. If it still fails, contact Pro Support. They may ask for a copy of a voided check or a bank statement so they can add the bank for you.
- The app says no web browser is available: turn on a web browser on your phone, then try again.
- Your payout failed and the names don't match: make sure the name on your bank account matches the name on your tax info. If it still fails, contact Pro Support.
- A message says Stripe paused your payouts: see Tax and banking setup.
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