Transfer Stripe Account to New Owners
Created: 11/2/2023
If using Stripe for the integrated credit card processing - do not close the account. Note that only the current owner of a Stripe account can transfer ownership to another user with Administrator permission. We suggest that you update this information together as it will request confirmation of current information to allow for updated information to be provided.
Most Unit Trac business are using Stripe Express, but some are using Stripe Standard. There are different directions depending on which integration you are using.
Stripe Express directions: https://support.stripe.com/questions/changing-the-account-representative-for-an-express-account
When using Stripe Express, you will want to update the information highlighted below:
- Contact Information - Update primary email address and mobile phone number.
- Payout Details - Update the bank routing and account number where you would like the money to be deposited.
- Platform Settings - Update the business details including business name, EIN, and legal address. You can also and add new owner and remove former owner from the account.
Stripe Standard directions: https://support.stripe.com/
Please note that depending on the timing of the update, the next payout may continue to go to the former owner as the new information may not have been verified prior to payout distribution.
Please note that depending on the timing of the update, the next payout may continue to go to the former owner as the new information may not have been verified prior to payout distribution.