Payments can be sent directly to your bank account on a weekly basis through Stripe, our payment provider.
***You do not need to create a Stripe account through their website***
Simply open your payments tab and complete the following steps:
Step 1 - Select Stripe as your payment method
Scroll down to the payment methods section and click edit
Select Bank Transfer - Stripe in the following pop-up and then click update
Step 2 - Set up your Country and Bank details
Once you selected Stripe you can add your Country details:
And in the following pop up you will be able to select the country and currency you are paid in:
The country MUST be the country the bank account is located in
Please note: If the country or currency is not shown there, then it is not supported by Stripe. We cannot add new countries, we can only use what Stripe makes available to us. At the time of writing this is the UK and EU countries using the SEPA (Single Euro Payments Area) network.
Once this is done, you can click on "Edit Your Bank Account Number" and then provide your account number and sort code there
Step 3 - Setup your Stripe account
The last step will be clicking on "Edit" next to Bank account details and setting up your Stripe account
When you click on this, you will be taken to a Stripe webpage (a url like this: https://connect.stripe.com/setup/xxxxxxxxx) with Spires's logo. This is where you will setup your Stripe account and provide the relevant KYC (Know Your Customer) documentation to Stripe.
The first option when you open Stripe will be to select the type of account you want to create:
Individual - Use this if you are being paid as a sole trader/proprietor or as an individual, i.e. the payments will be made to your personal bank account. You will then have to add your details, name, address etc, and will be asked to provide proof of ID and address.
Company - Use this if you are being paid as a company, i.e. the payments will be made to your company bank account. If you select company, you will need to upload your companies registration certificate and give your company details, in addition to your own details and proof of ID and address which is addressed below.
Once you added your details, you will be given the option to upload your documents:
You should do this immediately by clicking on update. In the next pages you will be given the option on how you want to provide the documents:
And then you asked to declare what the document is:
You will need to provide one type of government issued photographic ID and one proof of address.
A note: The proof of address should match the country the bank account is in. Stripe may reject the proof otherwise.
Additionally, if you are taking photos, you need to take clear photos so that the text is visible and all the edges of the document/ID should be visible. It is better to use a scanner for this reason. See our article on problems with uploading documents to Stripe here
If this is all completed successfully, you should see a green tick next to the words payouts enabled on Spires