Complete Stripe Setup Guide for Global Sellers: Registration, KYC, and Troubleshooting
Complete Stripe setup guide for global sellers: how to register, KYC verification, troubleshooting failed applications, and what to do if banned. Step-by-step tutorial using UK region as example.
Why Use Stripe?
I've previously covered the Shopify Payments setup guide: Complete Shopify Payments Setup Guide
However, many friends use WordPress or are independent app developers going global, so they need Stripe. Also, with Shopify Payments' increasingly strict risk controls, more people are turning to other SaaS platforms or WordPress, making Stripe the preferred payment processor.
This guide will walk you through setting up Stripe step by step, using the UK region as an example.
1. Register Account
The prerequisite is that you need an overseas company entity (such as UK, US, etc.) or a Hong Kong company! Some friends have also managed to activate using just a Hong Kong bank card (though some couldn't - it's hit or miss). Please practice and experiment yourself.
I'm using a UK entity for this tutorial. The registration process is straightforward, just like any other platform.
2. Activation: Fill in Basic Information
After registration, your dashboard will be in test mode. You need to follow the prompts to fill in information and activate Stripe Payments.
1. Select Company Type
Most people register as a company, so select "Company".
2. Fill in Business Details
Enter your registered company address; you can leave VAT blank if you don't have one; you can use a Chinese phone number; fill in everything else truthfully.
3. Fill in Legal Representative's Personal Details
Fill in your real identity information truthfully, which should match your passport/ID card; the address should ideally match your domestic ID card/driver's license. Chinese phone numbers work fine.
4. Business Owner
Just select yourself as the sole owner.
5. Director
Again, it's yourself.
6. Executives
Still yourself.
7. Describe Shipping
Select "Yes" for self-shipping, or "2" for dropshipping. For shipping timeframe, generally within 2 weeks.
8. Invoice Information
Usually your company name (or brand name), Chinese phone number is fine. You can even choose not to display it.
3. Activation: Fill in Bank Information
Note! Certain UK GBP virtual accounts don't support Stripe! I recommend using other payment channels like Payoneer, Wise, or Airwallex.
I personally used Airwallex's UK GBP receiving account, and everything worked smoothly.
4. Add Two-Factor Authentication
For automatic tax calculation, you can skip or continue. It doesn't matter much.
VAT is only for UK region - you only need to register for VAT when annual turnover exceeds 90,000 pounds.
5. KYC Verification
After registration, you'll immediately receive an email saying your activation was successful!
But wait - refresh your dashboard after 2 minutes, and you'll see an error message requiring you to submit additional information.
This is why I told you to fill in your real personal domestic information - you'll need to upload your passport and proof of address.
Stripe accepts many types of address proof, as long as it matches your ID/bills~
I uploaded my passport for ID; for address proof, I used a China Merchants Bank credit card statement (the address must match!).
After uploading, it will say verification takes 2-3 days, but it's usually done within an hour. After verification, there's no notification. Check your account status, and everything should be normal.
For first-time users, after uploading, some people still need to verify their identity via mobile phone upload. Just follow the instructions - this requires mobile operation and facial recognition.
Some people may even see this prompt - my first account showed this after I submitted relevant documents but wasn't approved, which was strange. My second account didn't show this at all.
6. Stripe Fees
No setup fee! No annual fee!
This is why I keep emphasizing that an overseas entity is a MUST for global sellers, not an option! If you use a domestic entity to open domestic payment processors, they charge thousands for setup and thousands more for annual fees - can you handle that?
Fees vary by your entity's location. Here's my UK region example:
Check the official website for specific rates.
7. What If I Can't Activate?
Don't panic! I always say that getting banned is just part of the global selling journey, but there's always a solution.
Method 1: Re-register
If you completed all KYC steps but still can't get approved, my suggestion is to create a new account and try again.
Many people worry: "Will it be linked? Will it still fail?" Who cares? Is there a worse outcome than not being able to activate?
My first account kept failing, probably because I filled in the bank account incorrectly, so I just created a new account and went through the process again, and it worked.
Method 2: Use a Different Payment Processor
Platforms like Airwallex and Payoneer are also great all-in-one solutions.
