What do you submit for KYC when setting up a payout?

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:

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🏢 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.

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👤 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.

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🔐 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

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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!