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What happens if my Stripe account is not approved?

If your Stripe account is not approved, it typically means that Stripe encountered an issue during the verification process. There are several reasons why an account may not be approved, and most commonly, it could be due to incomplete or incorrect information provided during registration. Common issues that may lead to a rejection include:

  • Incomplete or missing documentation: This could include necessary personal or business verification documents, such as ID, tax identification number (TIN), or bank account details.
  • Incorrect IBAN or banking information: The IBAN provided must match the account holder's name, and the bank account must be located in Germany for payout purposes.
  • Discrepancies in the business or personal details: If the information provided during registration doesn't align with what Stripe has on record or the information doesn't match your identity, it could cause the approval to be delayed or denied.
  • Past account history: If you have previously had a Stripe account that was terminated or restricted due to policy violations, this could affect your approval process.

If your account is not approved, you will receive an email from Stripe with the details of the reason behind the rejection. Stripe usually provides clear instructions on how to resolve the issue and re-submit your application for approval.

Here are the steps to follow if your Stripe account is not approved:

  1. Check the email from Stripe: Review the email carefully to understand the reason for the denial.
  2. Follow the instructions: Stripe typically provides clear steps on how to fix the issue, whether it's submitting additional documentation or correcting your details.
  3. Re-submit your application: Once you have addressed the issue, you can re-submit your details to Stripe for another review.
  4. Contact iKnowly Support: If you have trouble understanding the feedback from Stripe or need assistance resolving the issue, please reach out to us at support@iknowly.com. We will review the matter and offer guidance to help get your account approved.

We understand that this process can be confusing, and we are here to assist you every step of the way. Our support team at iKnowly will work with you to ensure that your account meets the necessary requirements and is successfully approved.