How to Open a UK Stripe Account from any European Country

Ryan Patrick

• 4 min read
How to Open a UK Stripe Account from any European Country

As companies strive to cross national borders and expand into global markets, choosing a secure payment method has become a crucial step for business success. Simply put; it is no longer enough to act small and play it safe. Now everyone sees the need to broaden their horizons and go global.

Having a global payment gateway like Stripe gives you the flexibility to accept payments, send payments out, and manage your business online. But how do you open a Stripe account from any European country? This blog post answers that question so you too can have your business Stripe account today.

What is Stripe?

Stripe is a payment service provider that enables retailers to take payments with debit and credit cards and other methods. For foreign entrepreneurs with an online sales channel and a requirement for a cutting-edge, highly secure payment gateway, Stripe is a great option. Stripe offers a range of tools and configurable APIs that enable you to process payments and pay sellers worldwide.

Why Should You Create a UK Stripe Account While Residing in a European Country?

Here are some of the reasons why you should open a UK Stripe account.

  • Stripe integrates third-party payment processing with payment gateway features, making it one of the most popular and convenient e-commerce solutions.
  • Stripe is a payment processor used by companies of all sizes.
  • For businesses that sell online and internationally, Stripe is the best option because of its highest security standards and capacity to handle over 135 different currencies.
  • A wide variety of local and universal payment methods are also supported.

Requirements to Create a UK Stripe Account

Here are the requirements for registering a UK Stripe account for UK companies with international founders.

  • Proof of ID from the European country where you are based
  • Business website address
  • Description of what you sell, to whom you sell, and when you charge your customers
  • Type of business (i.e. a limited company)
  • Company registration number
  • VAT number (if applicable)
  • Registered business address (i.e. your company’s registered office address) (provided by Incorpuk)
  • Your legal name
  • Telephone number from the UK (Incorpuk can help you get a UK telephone number )
  • Date of birth
  • Proof of Address from any country you are residing
  • Bank account details
  • UK Company Incorporation (Incorpuk can help you with company incorporation in the UK)

Steps to Take to Sign Up for a Stripe Account

Here are the steps you need to take to sign up for a Stripe account.

Step 1: Sign up for a Stripe account here.

Step 2: Verify your email.

You’ll receive an email immediately after signing up with a link to verify your email address.

Step 3: Complete your business profile to activate your account.

This is necessary to enable certain capabilities for your account, such as accepting live payments, and for Stripe to comply with Know Your Customer (KYC) regulations.

What Currencies Will Stripe Pay My Fund in?

Given that your business is based in the UK, Stripe can send your payouts in the following currencies: GBP, USD, AUD, or EUR to the account that receives the payouts.

Can I Add a Bank Account in a Non-Local Currency?

You can add a bank account in a currency other than the local one using Alternative Currency Payouts. Certain currencies can be used for Alternative Currency Payouts for enterprises located in Europe, including the UK. You should follow the instructions on the Alternative Currency Payouts page to set up your bank account for alternative currency payouts if your account is based in one of the aforementioned eligible countries.

Note that a bank account needs to be domiciled (based in) the nation where the account’s currency is used in order for it to be added in this manner. For instance, a UK-based Stripe account that wishes to get paid in USD needs to add a US-domiciled bank account with USD settlement currency.

If you need help with this or have any questions, you can contact Incorpuk today for help on how to do this.

Payouts

Payouts from Stripe are made to your bank account. On the Stripe Dashboard, you can see a list of all of your payouts along with the anticipated date that they will appear in your bank account.

Note that the first payout will become accessible seven days after you complete your first Stripe payment.

Can I Send Receipts?

Email receipts can be automatically generated by Stripe following a successful payment or upon a payment return. You can view and send receipts from the receipt history that is included with each payment on the Dashboard. Once the transaction has been located, scroll to “Receipt history” and click on the receipt.

When Creating a Stripe Account, is a VPN Necessary?

If you have the information mentioned above, you can create a Stripe account without a VPN. You can set up a Stripe account from anywhere in Europe.

Does Opening a Stripe Account in the UK Require me to be a UK Resident?

According to Stripe, opening a UK Stripe account does not require you to live in the UK.

Final Thoughts

The UK is a location where many types of businesses can be established. Contact Incorpuk for assistance in taking your business global through company formation in the UK, business bank account setup, and Stripe account setup if you want to start or grow a business in the UK from anywhere in Europe. To make your financial transactions easier, Incorpuk is the ideal platform to assist you in gaining access to international financial services like Stripe. Contact Incorpuk here.