How to activate Treasury functions
How to set up Klear's payment features
Identity Verification
In order to access payment features, you must first verify your organization’s identity. This process is hosted by Stripe, and will create a connect account for your organization. Go to “Treasury” on the left side menu.
Next, click “Connect Stripe”, and you will be redirected to a verification flow hosted by Stripe. In this flow, you will be verifying your organization identity as well as your own.
You may be asked to provide the following information: Business structure, business legal name, business address, Employer Identification Number, DBA if applicable, business industry, and business website. Stripe may also collect, verify, and maintain information on a company’s owners — known as “beneficial owners” — and persons with significant control. You will also be asked to provide your own identity, including your full legal name, email address, date of birth, home address, phone number, and other identity verification such as the last 4 numbers of your Social Security Number or a photo of a government-issued ID.
You can pause the process anytime and resume when needed. Everyone in your organization will have access to the onboarding process, so you can assign another team member if any of the organization information is unknown to you. You may find more information about the process on Stripe’s support page: https://support.stripe.com/questions/what-do-i-need-to-do-to-verify-my-stripe-account
If you pause the onboarding process, clicking “Save for Later” or exiting the page, your progress will be saved and you can click “continue” at any time from Klear to start from where you left off.
If your industry is not listed on Stripe, choose the industry that best matches your organization’s activities.
During the process, you will be prompted to accept the terms of service of Stripe in order to open your connect account, and in the future, have the option to open a Klear financial account.
After entering all of the information and agreeing to the terms, your information will be verified by Stripe. Once your identity and your organization’s identity have been verified, you will see the following screen:
Connect External Accounts
You will see a new tab after verification is complete: External accounts. Here, you can connect your organization’s bank account(s) to enable payouts and the ability to open a Klear financial account. You can connect your account by pressing “Add New” and following the process provided by the Stripe popup:
When complete, you should now see your account listed in the table:
Open a Financial Account
A Klear Financial Account allows access to a range of money management solutions. Specifically, you will have a store of funds held at Evolve Bank & Trust. Your funds may be eligible for FDIC insurance, subject to conditions. You will be able to send and receive funds in your Klear Financial Account. You will be able to manage these features through Klear’s platform.
In order to open a Klear Financial Account for your organization, you must first complete all of the steps listed above. Then, you can click “Klear Financial Account” tab, and “Add New” in order to open a Financial Account for your organization.
After opening your account, you will see the details of your Financial Account.