You do not need to sign up at Stripe before you start. In Settings → Payments, use the Create one link underneath the Connect Stripe button: Studio makes the Stripe account for your workspace and hands you straight to Stripe's own secure signup, where you finish it off. This article walks the whole thing end to end, from "we've never used Stripe" to "we can take money."
If your organization already has a Stripe account, don't use this article — click Connect Stripe instead, sign in, and choose that account. Creating a second one means payments collect somewhere empty while your real account sits idle. See Connecting Your Stripe Account.
Set aside about 15 minutes and have your bank details nearby. Most organizations are approved the same day, and many within minutes.
Before you start: what to have on hand
Stripe is a regulated financial company, so it has to verify who you are before it will move money for you. Collect these first and the whole thing goes quickly:
- Your legal entity name and address — exactly as it appears on your IRS or state registration, not your brand or nickname.
- Your EIN (or your SSN if you're a sole proprietor with no EIN).
- A bank account — routing and account number. This is where your money lands.
- A photo ID for the person signing up (driver's license or passport).
- Details for anyone owning 25% or more of the business, or, for a nonprofit, an officer or director. Name, date of birth, home address, and the last four of their SSN.
- Your public website address — your main organization site, not your Studio URL.
The full field-by-field list is in What Stripe Asks For. Stripe's own version is at docs.stripe.com/get-started/account/activate.
Step 1 — Open Settings → Payments in Studio
Go to Settings → Payments. You'll see a panel showing your current status. If you've never connected, it reads Not Connected with a Connect Stripe button.
Step 2 — Click Connect Stripe
Studio creates a Stripe account attached to this workspace and opens Stripe's hosted signup in the same window. Everything from here is on Stripe's site — Studio never sees your password, bank numbers, or ID documents.
Step 3 — Create your Stripe login
Stripe asks for an email address and a password. Two things worth getting right, because they're annoying to change later:
- Use an address the organization controls, like finance@yourorg.org, not a personal Gmail belonging to whoever happens to be doing setup today. When that person leaves, you'll still need into this account.
- Turn on two-factor authentication when prompted. Stripe requires it, and a passkey or authenticator app is far safer than SMS. You can manage this later under Stripe's user settings.
If that email already has a Stripe login, sign in instead of creating a second one. Stripe lets you hold several accounts under a single login and switch between them — see Multiple accounts.
Step 4 — Tell Stripe about your organization
Stripe asks what kind of entity you are. Pick carefully — this determines what it asks for next:
- Individual / sole proprietor — no EIN needed; your SSN is used instead.
- LLC, C corp, S corp, or partnership — EIN and business registration details.
- Nonprofit — EIN plus your 501(c)(3) determination letter if you want the charity rate.
Then the details: legal name, address, phone, industry, and a short description of what you do. For the industry, choose the closest match — "Charitable and social service organizations," "Religious organizations," "Membership organizations," or whichever fits. If you sell tickets or services, say so; describing yourself inaccurately is a common cause of a later account review.
Step 5 — Add the people Stripe needs to know about
Stripe collects a representative (the person filling out the form, who must be authorized to act for the organization) and any beneficial owners holding 25% or more. Nonprofits usually have no beneficial owners, but still need to list a director or officer — Stripe explains this at Beneficial ownership requirements for nonprofits.
This is a federal Know Your Customer rule that applies to every payment processor. It is not Stripe being nosy, and there is no way to skip it.
Step 6 — Add your bank account
Enter the routing and account number for the account that should receive your money. Most US banks can be verified instantly by logging in through Stripe's secure connection; otherwise Stripe accepts the numbers manually and verifies them behind the scenes.
The bank account name should match your legal entity name. A mismatch — a personal account for an organization, say — is the single most common reason payouts get held later.
Step 7 — Set your statement descriptor
This is the text your donors and customers see on their card statement. Make it something they'll recognize instantly, usually your public-facing name. If they can't place a charge, they call their bank instead of you, and that becomes a dispute. Stripe covers the rules at Statement descriptors, and you can change it any time under public business details.
Step 8 — Submit, and land back in Studio
Review the summary and submit. Stripe returns you to Studio automatically. The panel on Settings → Payments turns green and reads Stripe Connected, and the button becomes Disconnect.
If you closed the tab or ran out of time partway through, nothing is lost. The panel shows Onboarding Incomplete and the button changes to Continue Setup — click it to pick up exactly where you stopped.
How long approval takes
- Most accounts: approved instantly, and you can accept payments right away.
- Some accounts: Stripe asks for a document — usually an ID photo or proof of address — and reviews it within a day or two. You can still take payments during this; only payouts wait.
- First payout: Stripe holds it 7–14 days on a brand-new account. After that you move to the normal rolling schedule, which is 2 business days in the US. See When Does Money Arrive?
If you're a 501(c)(3), apply for the charity rate
Stripe offers eligible US nonprofits a reduced card rate — 2.2% + $0.30 instead of 2.9% + $0.30. It isn't automatic; you have to ask for it after your account exists. Broadly, you need valid nonprofit tax documentation and at least 80% of your Stripe volume coming from tax-deductible donations (ticket sales, tuition, and membership fees don't count toward that). Details and the request form are at Fee discount for nonprofit organizations.
Do this early — the discount applies to future charges, not past ones. More in Stripe for Nonprofits.
What you can do the moment you're connected
- Publish donation pages and take gifts, one-time or recurring.
- Sell event tickets and collect registration fees.
- Send invoices that clients can pay by card or bank transfer.
- Take payments on membership signups and forms.
Nothing with a price attached will collect money until this is done — Studio shows a blue banner across those pages until Stripe is connected.
Common questions
Does Studio hold my money? No. Funds go from the payer to your own Stripe account to your own bank. Studio's fee is deducted per transaction, and you can see how that breaks down in Understanding Processing Fees.
We already have a Stripe account for something else. Sign in with that same email during Step 3 and the workspace's account sits alongside it under one login. Your existing payments and history are untouched.
Do I need a business bank account? Not strictly — a personal account works for a sole proprietor. For a registered organization, use the organization's account. Mismatched names cause held payouts.
Is there a monthly fee to have a Stripe account? No. Stripe charges per transaction only. Current rates are at stripe.com/pricing.
What if something goes wrong mid-signup? See Stripe Won't Connect.