How to connect Stripe if you are not in the US
If you looking for an opportunity to accept payments from all over the world without opening an expensive office in another country. Months of trial and error led me to a working solution.
International payments are often one of the biggest headaches for startups and large companies alike. This is especially true for countries that do not have or have limited Stripe and PayPal features.
The payment problem can easily kill all entrepreneurial enthusiasm and ruin even the most ingenious business idea. The lack of the possibility of simple withdrawal of funds and acceptance of payments forces them to engage in the transfer of business to other countries, and not the development of the project itself.
In Russia, PayPal has already become more or less popular and works quite well, but Stripe is still a service that little is known about.
In my other startup, having connected PayPal, we had a situation when 200 people came to Checkout and paid only 6, since the PayPal (Business) version on our market offered to register a PayPal account (for Polish citizens) instead of the usual card input. People were also afraid of even a couple of letters written in Cyrillic in the payment window.
This connection took us about 45 days.
After such a failure, we began to consider other options. We looked at Paddle, 2checkout, Braintree, Adyen, PayU and dozens of others.
We communicated with representatives, found out the legal and technical details of the connection. We liked Stripe the most - for many reasons. But he was not available from our region. We started looking further and found a working solution.
So what is Stripe
Stripe is a great service that allows businesses to accept online payments in multiple currencies. If you're developing a website or mobile app and want to accept payments instantly, then Stripe can help you with that.
To receive payments, you can integrate the Stripe API into your site. It can handle major international debit or credit cards including Visa, Mastercard, American Express, Discover, Diners Club, and JCB.
Stripe is not yet supported in all countries. Unfortunately, this also applies to Russia. This service is currently only available in the USA, UK, Australia, Canada, Ireland and some other European countries. Here we are talking only about a business account (merchant account) - you can pay from any country.
Is it possible to connect Stripe in your country for business
Despite the fact that there is no official way to connect a Stripe business account in your country, there are still workarounds. We recently found a solution that allows you to use Stripe from anywhere. Don't worry, this method of accepting payments at Stripe is completely legal and very fast. You will be able to start accepting payments from all over the world in minutes after all requirements are met. This is perfect for testing the hypothesis and after the first turnovers, open a company in the target market.
Stripe requirements
Below are Stripe's requirements for accepting payments from the United States:
- US bank account.
- SSN / EIN
- Postal address in the United States.
- Phone number in the United States.
The easiest way is to register an LLC (limited liability company) or C-Corporation company in the United States and open a bank account there. However, even if you can register an LLC (this is simple enough and can be done remotely), there is no bank in the United States that would open an account without a potential owner visiting a bank branch first.
In addition, Stripe will require you to enter your SSN (Social Security Number) or EIN (Employer Identification Number) to verify your identity. It can also be a barrier to using Stripe. As for the US address and phone number, you can easily get them remotely. More on this below.
But the good news is that you still have the option to use Stripe without first visiting the US. We will tell you how to use this payment system if you are located outside the United States.
1. Bank account in the USA
Payoneer is a great way to open a valid US bank account. It is a global payment service that can be used as an alternative to PayPal to send and receive payments around the world.
It provides users with a prepaid Mastercard (you need to have funds on a prepaid card to use it online) and a US bank account to accept ACH (Automated Clearing House) payments from US companies. ACH is exactly what Stripe uses to pay customers. Voila, the main step has been taken!
Sign up with Payoneer
Payoneer is a very reliable and secure payment service available all over the world. The service allows you to accept payments and affiliate payments from US customers. Since Payoneer supports and issues Mastercard, this service can become your primary method on the Internet.
Signing up with Payoneer is easy and only takes a couple of minutes. Moreover, you can use the link of a person who is already a user, and you will receive a $ 25 bonus .
You just need to fill out a few four-step forms and then verify your identity by sending them a passport photo or a copy of your driver's license.
After successful registration, there is a waiting period of up to a week, after which you will be sent a prepaid Mastercard to your address.
Once you receive and activate your card, Payoneer creates a virtual US bank account so you can accept ACH payments from US companies. That's all you need. You now have an official US bank account and can immediately accept payments with Stripe.
2. SSN / EIN
Since the SSN (Social Security Number) is only issued to US citizens, permanent residents, and temporary (working) residents by the US Social Security Administration, foreigners cannot obtain one.
An alternative to the SSN is the EIN (Employer Identification Number), also known as the federal tax identification number, which is used to identify a company in the United States. To obtain an EIN remotely, you need to call the IRS and do the following:
- Download this form and fill it out in advance.
- Call the IRS - phone number 1-800-829-4933 - and tell them you need an EIN. They will insist on faxing the form, but there is a workaround for that. Just tell me that you don't have a fax and would like to do it over the phone.
- The operator will ask you to read out the form fields.
- In a maximum of 15 minutes, you will have an official EIN, which will also be mailed to you at an address in your country.
3. Postal address in the United States
Getting a US mailing address is pretty straightforward. To do this, simply subscribe to any PO Box service. There are a number of online services that offer such services. I recommend MailBox Forwarding. They provide you with a mailing address that is available online. You can receive and view all your mail: letters, documents and packages, regardless of whether they are delivered by USPS, FedEx or UPS.
In the future, you may need to receive important documents by mail, for example from the IRS or Stripe.
4. US phone number
You can get a US phone number through Sonetel and forward it to your local phone number. It costs about $ 2 per month and will give you the ability to receive all calls directly to your current phone number.
Sign up for Stripe
If you already have everything you need to register with the Stripe payment service, then the simplest thing remains. Go to Stripe.com and create your account by filling in all the details (email address, password, and so on) and verifying your email address.
Then login to Stripe and choose Live between the two options Live and Test. After that, then click "Activate Account" (Activate Account). You will need to fill in all the required details, but pay particular attention to the following fields:
Country: United States.
Business type: Individual entrepreneur.
EIN: The number you received from the IRS.
Address: Your US mailing address.
Phone: The phone number you received through Sonetel.
SSN: 000–000–000.
Bank Account: Login to your Payoneer account, click Receive → Global Payment Service and copy the required banking information from there.
And that's all you need to do! It's simple. You can now enjoy all the features of Stripe, including the ability to receive payments.
Instead of conclusions
Yes, of course, this method of signing up with Stripe will take more than 10 minutes. Even more than an hour. But this is a working solution that will give you access to one of the best online payment platforms. If you have no other way to accept payments, then you have nothing to lose, it's worth a try.
Let's recap and walk through the steps:
You can now receive payments from all over the world with Stripe payment service! This will allow you to fully engage in your own business, and not only think about things like international transfers and finding a way to withdraw money.
Important: This article is for informational purposes only.
Tax liabilities are not considered and in some cases you will need to consult with your accountant or lawyer.
www.anytimemailbox.com
www.usglobalmail.com
