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Updating and Viewing Bank & Legal Information

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Haley S.
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Summary: This guide explains the crucial role of Know Your Customer (KYC) regulations in financial transactions and provides step-by-step instructions for Account Owners/Admins to seamlessly update both bank and legal information within the Tithely dashboard, ensuring your account remains fully verified and secure.

Before You Begin

  • You must be an Admin or Account Owner to access these settings.
  • KYC regulations (Know Your Customer) require collecting and verifying information to prevent financial crimes like money laundering.
  • Payouts will be PAUSED until verification is complete after a bank update.
  • Verification Time: The time it takes depends on the speed and accuracy of the information provided; you will be informed by email every step of the way.

Step-by-Step Instructions

How to Update Your Bank Information

  1. Log in to your Tithely account.
  2. Click the Global Settings button (the person icon in the top right).
  3. Select My Organization.
  4. Click Locations.
  5. Select the Location you wish to view or edit.
  6. Click View and Update Banking Information next to the location you want to update.
  7. Verify you are the account owner by text or email code.
  8. Update your bank account information (for Canadian customers, enter the "Institution Number" as both the transit and institution number).
  9. Click Submit.

How to Update Your Legal Information (Stripe Secure Screen)

  1. Log in to your Tithely account.
  2. Click the Global Settings button (the person icon in the top right corner).
  3. Select My Organization from the menu.
  4. Choose Locations, then select the location you'd like to update.
  5. Click View Processing Accounts to open Stripe’s secure onboarding screen.
  6. Click Continue and complete the email verification step.
  7. Click Edit next to the section you need to update:
    • Business Details (Legal name, address, EIN/Tax ID, business type).
    • Public Details (Statement descriptor shown on donors’ bank statements).
    • Management & Ownership (Legal representative information).
  8. Click Submit and confirm. [It may take a few minutes for the updated information to sync.]

Troubleshooting & FAQs

  • What information is collected for KYC? Information includes the organization's full legal name, EIN/Tax ID, and the legal representative's Social Security Number and a color copy of their drivers license.
  • Why are my payouts paused after a bank update? Payouts are PAUSED until Verification is complete. You will receive an email from the Priority Team requesting verifying documents. If you don't receive an email, reach out to priority@tithe.ly to reenable payouts.
  • What happens if the legal information is inaccurate? You must ensure all information entered is accurate and matches legal documents to avoid delays during the verification period.

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