Overview

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) requires Stripe (Communal's payment processor) to register as a money services business in Canada. This means they need to verify the relationship between your Account Representatives (directors) and your nonprofit/charity. These regulations aim to help protect against online banking fraud and money laundering and are a necessary process for registered charities and non-profits.

What information will Stripe be verifying?

Stripe will be verifying your current list of directors as well as your registered non-profit status. The specific details are listed below in no particular order:

1. An image of the business registration

2. Directors of the organization and their:

   1. Legal first and last name

   2. Email address

   3. Home address
   4. Position
   5. Phone number

3. Stripe Account Representative information:

   1. Legal first and last name

   2. Email address
   3. Home address

   4. Date of Birth

   5. Position

   6. Identity documents (ID and secondary address document)

   7. Phone number

4. Contact information for each organization:

   1. Email address

   2. Business website

   3. Business phone number

   4. Customer support phone number

   5. Description of what you are selling

How do I provide this information?

On the Manager Dashboard of your Communal instance, you will see a red banner outlining the specific verification steps required for your organization. Clicking the link in the banner will direct you to where you can take action on each request. Note that after submitting the initial information, you may need to submit additional documents supporting your submission. This will occur if Stripe/FINTRAC cannot verify the information with a government registry. If you want to learn about common supporting documents, click here.

Review our regulation compliance guide 

When do I have to provide this information and what is next?

You will need to provide this information when getting access to your Communal instance. You will not be able to process any funds or receive payouts until this has been completed.

If you are a current client you will need to provide this information before February 19th, 2025 at the latest, at which time you will no longer be able to process payments through the platform or receive payouts. January 29th, 2025 is when payouts will be paused however you will be able to continue processing payments until February 19th.