When setting up a payout, your organization must complete a short Know Your Customer (KYC) process. Below is a clear breakdown of what that means, why it’s required, and what information you’ll need to provide.
What is KYC?
Know Your Customer (KYC) is a standard identity verification process used by financial institutions and payment platforms.
It helps confirm that:
- Your organization is legitimate
- The person setting up payouts is authorized
- Funds are being sent to the correct recipient
KYC is required before payouts can be processed.
Why is KYC required?
KYC isn’t just a formality — it protects everyone involved.
This process helps:
- Prevent fraud and identity theft
- Ensure funds go to the correct organization
- Protect donors and recipients
- Comply with federal financial regulations
By completing KYC, you’re helping create a secure and trustworthy payment environment for your organization and your supporters.
What information is required — and Why?
To verify your organization and the authorized representative, we collect the following information:
🏢 Organization Information
- Legal Name of Organization: Confirms the official registered entity receiving funds.
- Date of Incorporation: Helps verify the organization’s registration history.
- Organization Tax ID (EIN/FEIN): Required to validate the organization with IRS records.
- Organization Address & Phone Number: Used to confirm official business contact details.
👤 Authorized Representative Information
The person setting up payouts must be authorized to act on behalf of the organization. We collect:
- First and Last Name
- Date of Birth
- Job Title
This ensures the person completing the process has the authority to represent the organization.
🔐 Additional requirement for Nonprofits & Private organizations
If your organization is a nonprofit, private school, booster club, or small business, we also require:
- Representative SSN or ITIN
This is required strictly for identity verification purposes and is securely processed by our trusted payment partners.
Public/government-affiliated entities typically do not require this step.
💬 Need Help?
We understand that financial verification can feel detailed — but it’s all designed to keep your organization and your funds safe.
Please reach out to our support team, and we’ll gladly guide you through each step!
