How do I sign up to accept card payments?

To accept card payments both in person and online (including through Apple Pay and Google Pay) you need to set up a Stripe account. Get started by tapping on 'Get set up' under 'Accept card payments' in the Get Paid tab in your mobile app.

We'll then redirect you to Stripe's onboarding webpage and you'll go through their sign up process. You'll need to provide some information about your business, yourself (and if your business is a limited company the key people in the business), and how you want to get paid out.

So you know, you must be authorised by your business to create a Stripe account for the business.

Don't worry, you can take a break in your application whenever your need. We'll save what you've done and it'll be right there for you to finish when you come back to it.

Stripe asks you to provide an email address and phone number for your account. This is what you'll use to log into your account going forward.

If you have additional people in your business you'd like to have access to the Stripe account, don't worry. After one of you has set up the account, you can add the others to the account from your Stripe dashboard.

If you already have a Stripe account and you want to start accepting card payments, then you can do that easily.

Unfortunately we don't yet support you just logging into your existing account, so we'll ask you to create a new Stripe account.

You can just use the same email address as for the account you already have. You'll then find all your Stripe activity related to your Monzo request and any other Stripe activity when you log into your Stripe account with this email. It'll all be there neatly split into two separate accounts (in the top left), so you can easily keep apart your Monzo requests from your other activity.

You'll need to provide some details about your business to help Stripe understand it better and to approve your application quicker. At the end, Stripe will show you all the information you've provided and in case anything is missing or wrong you can still add it or correct it then - so no need to worry!

Once that's all good, tap 'Done'. We'll bring you back to your Monzo app. Stripe will review your application, and we'll let you know when your account is good to go!

Tell us about your business section

Business details section

Before you get started, you may want to have some information about your business owners, directors, executives, and companies house registration at hand. You'll need to provide some details about your business and the key people in the business to help Stripe understand your business better and to approve your application quicker.

Business details section

Business representatives section

As you should have the authority to open the account for your business, this may well be you. It should be an executive, senior manager or someone who otherwise has significant responsibility for the control and management of your business.

Business owners section: You need to add some details (such as name, email, and home address) about every person who owns 25% or more of your business. Stripe need to understand better who has significant ownership of your business for regulatory reasons.

Business directors section: You also need to add some details (such as name, email, and home address) of the directors of your business. This should be the same people who are listed as directors in Companies House for your business.

Business executives: You need to list and add some details (such as name, email, and home address) for each person who has significant management responsibility for your business.

Fulfilment details section: Here you should give an indication of how you normally provide your products or services. Select an option that is most relevant for your business from the drop-down.

Account for payouts section: Add your bank account details to your Stripe account. Stripe will pay the amounts your customers have paid by card to this account. They will also deduct their fees or any refunds or disputed amounts ahead of any payouts.

So you know, Stripe will need to set up a direct debit with this account. They need it to pay you the money you've earned but also in case refunds, disputes, and other things outweigh the amounts you've received from customers and they need to take money from your account to cover it. If you want to understand better why they need this, please reach out to Stripe Support.

Customer support details: This information helps your customers recognise that they've paid your business when they look at their card statements.

Stripe needs you to authorise a direct debit for the account you'd like to connect to your Stripe account.

When your customers pay by card, Stripe will pay out that money to this bank account (minus their fees or any amount for refunds or disputes, etc).

Stripe will also debit money from that account at times when your Stripe account balance is negative. That could happen if for instances the money you're paying back to your customers in refunds or chargebacks is more than what your customer have paid.

If want to learn more about this, please read Stripe's help article on how Stripe handle negative balances and why they need a direct debit authorisation.

So you know, Stripe pay out to your account a few working days after your customers have made their card payment. This may take a bit longer if it's your first time receiving money from your Stripe account or they need to run more checks.

Stripe review your application after you've submitted it. This should take a few minutes, but might take longer. If Stripe needs more information, they'll email you directly. As soon as Stripe activates your account you can accept card payments!

Interested in taking contactless card payments? Click here.