Skip to main content

How to Change the Owner of Your Stripe Account

Updated this week

Are you transitioning your organization's officers? Make sure you also transfer ownership of your Stripe account. The incoming officer needs to be able to work with the previous/outgoing officer to transfer ownership, and the process must be completed within 14 days.

Note: When setting up the Stripe account, you are encouraged to use a personal email address instead of a general email address. The sign-in is specific to the individual, and authentication often requires confirmation of personal information.

Is the Current Stripe Owner able to work with the new officers to transfer ownership?

If Yes--> Please follow these steps: Transitioning your Stripe Account, Updating Ownership

Transitioning your Stripe Account, Updating Ownership

Follow these steps if you are ready to transfer your Stripe account ownership to a new or incoming officer and can work together.

Current Stripe Owner Needs to Log In to Stripe:

1. From the Givebacks toolbar, select Financial Management, then Stripe Settings.

2. Click the three dots and select View Express Dashboard to be taken to your Stripe Express Dashboard.

3. Enter the email address for your Stripe account. It is possible to have multiple team members.

4. Next, Stripe will text a verification code to the phone number listed on your account. Enter that code on this screen and click continue.

Note: If you no longer have access to the phone number listed on the account, you can click the "I no longer have access to this phone number" option under the continue button. This will walk you through some other verification options, depending on your specific circumstances, such as sending the code via email, asking for your date of birth, or prompting you to add a picture of your ID (such as a driver’s license) for verification.

Current Stripe Owner Adds New Officer as a Team Member:

5. After you enter the code, you will see your Stripe Express Dashboard. Click the profile icon at the top right.

6. Scroll to the Account settings section, then the Team member section. Click Edit.

7. Click Add team member.

8. Enter the new officer's email address and click Invite.

Current Stripe Owner Will Transfer Ownership to New Officer:

9. From the Team members page, click the three dots next to the new officer's name and select Transfer account ownership.

10. You will need to verify your identity. Click Agree and continue. Follow the prompts.

11. Once verification is complete, click Transfer ownership.

12. You will receive verification that the transfer was successful. Click Done.

Current Stripe Owner Will Remove Themself as the Account Representative:

13. Scroll to the Management and ownership section and click Edit next to your name.

14. First, scroll to the bottom of the box and click the “Remove as account representative” link. Confirm your selection.

15. Click the Remove person button. Confirm your selection.

New Officer Needs to Accept Invitation to Join Stripe Account:

16. The new officer will receive an email from Stripe. They must Accept the invitation to join the account as a team member within 14 days of receipt.

New Officer Needs to Update Personal Information:

17. After accepting the invitation, you are taken to the dashboard. You have 14 days to update the account before payouts will be paused. Click the Update button.

18. Add your personal details. Click Continue.

The New Officer needs to Update the Team Member List:

19. You will be taken to the Stripe Dashboard. Click the profile icon at the top right.

20. Scroll down to the Account settings section, then the Team members section. Click Edit.

21. Click the three dots next to the person to remove. Select Remove from account.

You have successfully transferred account ownership!

__________________________________________________

Changing Account Owner on Stripe Account When You Can’t Work with Previous Officer

If you can't work with the current owner of the Stripe account, please reach out to Stripe support using these steps:

1. Please reach out to Stripe using this link - Contact Stripe Support.

2. Select I can't sign in.

image.png

3. For the login issue, select I forgot my username, email or password.
4. For Tell us more about your login issue type Express account - Change of Ownership Request. Changing the Owner Admin (owner email) on account. Letter attached.

5. Upload a letter with the details in step 6.

image.png

6. Upload a letter from a company signatory (an officer other than the one who will be the Company Representative on the Stripe account) that confirms and provides details on the transfer of ownership for the Stripe account. The letter should be on your organization’s letterhead. Please contact Givebacks Support if you need help retrieving your Stripe account number.

Please use the following verbiage:

Request Type: Express account - Change of Ownership Request
Details: Changing the Owner Admin (owner email) on account: <insert Stripe account number>.

We need to transfer ownership of our express account to a new email. Our Stripe account number is <xxxxxxxxxxxxxxx>.

We authorize the appointment of <name of new officer> as the new Company Representative, as well as the transfer of ownership to them. Below is the account information:

  • Express Account Organization name:

  • Express Account Organization tax ID:

  • Express Account Organization address (likely the school address):

  • Previous Company Representative’s name and date of birth (if available):

  • New Company Representative’s name and date of birth:

  • New Owner Administrator’s email address (this should be the one used to log into Stripe):

7. Stripe may request a brief phone call with you to verify the transfer, or they may request some additional documentation.

Please let us know if you need further assistance or don't receive a timely response from Stripe. We are happy to continue to assist you.

Questions? Contact Givebacks Support.

Did this answer your question?