Stripe is Happl’s banking provider and card-issuing partner, and UK regulations require them to verify your business before cards can be issued. To offer virtual and physical cards to your employees through Happl, you’ll need to complete a Know Your Customer (KYC) process with Stripe. This article walks you through where to start, what information you’ll need, and what to expect during the process.
Why this is required
UK financial regulations require card issuers to verify:
The identity of the business
The people who own, manage, or control the business
The bank account used for funding cards
This verification is handled directly by Stripe, but you’ll initiate it from within Happl.
How to start the Stripe KYC process
Log in to Happl
Go to Settings
Select Company
Open Country card accounts
Choose United Kingdom
Click Add
You’ll then be redirected to Stripe to complete the KYC process.
Information you’ll need to provide
Stripe will guide you through a series of steps. Below is an overview of the information required so you can prepare in advance.
1. Business type
Business Type
Individual
Company
Non-Profit
Business Structure
Limited Liability Partnership (LLP)
Unincorporated Partnership
Private Company
Other / I’m not sure
2. Business details
You’ll be asked to provide:
Legal Business Name
Business Name (Trading Name) (optional)
Companies House Registration Number (CRN)
Business Address
Business Phone Number
Industry
Estimated Worker Count
(An estimated upper bound of employees, contractors, vendors, etc.)Annual Revenue
(Gross revenue from your most recent fiscal year — there is no minimum revenue requirement)Fiscal Year End
Business Website
3. Business representative
Stripe requires one business representative to verify and activate the account.
This must be:
An executive
A senior manager
Or someone with significant responsibility for managing the business
If this isn’t you, you’ll be able to select someone else during the process.
Required details
Legal Name
Email Address
Job Title
Date of Birth
Home Address
Phone Number
Confirmation of:
Ownership of 25% or more of the company (Yes / No)
Director or governing board membership (Yes / No)
4. Business owners
Due to regulatory requirements, Stripe must collect information on anyone who owns 25% or more of the company.
Stripe may verify this information against Companies House and is required to report discrepancies.
Required details
Legal Name
Email Address
5. Business directors
Stripe must also collect details for all members of the governing board.
This information may be verified with Companies House.
Required details
Legal Name
Email Address
6. Business executives
Stripe requires information on executives or senior managers who have significant management responsibility.
Required details
Legal Name
Email Address
7. Agree to Stripe’s Terms & Conditions
You’ll need to accept Stripe’s Services Agreement to continue:
8. Bank details
Finally, you’ll be asked to provide the bank account that will be used to fund cards.
Required details
Currency
Country of Bank Account
Sort Code
Account Number
After you submit
Stripe will review the information provided
In some cases, additional information or documents may be requested to complete verification
You’ll be notified directly by Stripe if anything further is required
Once approved, your UK card account will be activated, and you’ll be able to issue virtual and physical cards to employees via Happl 🎉
Need help?
If you have questions during the process or run into issues completing the Stripe setup, reach out to the Happl support team - we’re happy to help.