The person who verifies their identity as the project creator is the funds recipient, and must provide a bank account to receive payment if the project funds successfully. So if you’ve selected an individual funds recipient in the Payments tab of your project, you must personally own that bank account. Otherwise, business recipients must be owned by a business account.
The bank account must support direct deposit (for U.S. bank accounts, this means that the bank account needs to be ACH compliant). Typically, accounts matching these specifications are checking accounts. Savings accounts are supported as well, however please be advised that we see higher payout failure rates with these accounts. In Japan, only “Futsuu” accounts are accepted. You can read Stripe’s policies for more information on this topic.
If you have questions about whether or not your bank account is set up for these types of transactions, we recommend checking with your financial institution.
When entering your bank account information, we highly recommend taking extra care to ensure you have input the correct details. Failure to enter accurate information can lead to delays in the payout transfer. In addition, once the project is launched, we cannot facilitate changes to the bank account information.
Please note that we are not able to offer PayPal, Square, or other similar third party services as viable methods for payments collection or payout transfers at this time.