What is Stripe?
We’re proud to partner with Stripe, a payments processor system, to provide the industry’s lowest transaction fees at 2.6%! While payments are initiated through GlossGenius at checkout, Stripe handles the transaction fees and same-business-day transfers to your bank account. They will also notify you of any tax filings you may qualify for, such as a 1099-k.
How to add a bank account and verify the account.
Add Bank Account:
If you’re brand new to GlossGenius, you can add your banking details and verify your payments account from your app! Head into Settings > Bank Account & Verification. Tap Bank Details to add your account number and routing number.
Under the Bank Account & Verification page, tap Identity Verification to finish setting up and verifying your account. Any details that are needed will be highlighted for you!
Why am I an ‘individual’ business type and how can I change my business type?
By default, many members were set up as an ‘Individual’ or sole proprietorship business type. If you need to change your business type, please contact our support team at firstname.lastname@example.org along with what type of business you’re filed as (LLC, S-Corp, etc)
I want to replace my SSN with my business EIN
If you would like to replace your social security number with your business tax ID (EIN) please contact our support team at email@example.com along with the name of your business and what type of business you’re filing as (LLC, S-corp, etc).
My Payments agreement is asking me to ‘transfer ownership’
When changing your business type from ‘Individual’ to another business type, you may see that you are asked to transfer ownership. This does not mean that you are transferring ownership of your business to another individual or organization. You will be transferring the ownership of your payments account from your own personal name to your business.
Article is closed for comments.