Payment Account Setup (Stripe Connect)

CoinDuffle uses Stripe Connect to process payments and distribute payouts to dealers. Stripe Connect is the industry standard for marketplace payments, used by platforms like Shopify, Lyft, and Instacart. Setting up your Stripe account is required before you can receive payouts for your sales.

How Payments Work on CoinDuffle

Here's the payment flow for every transaction:

1. Buyer pays — The buyer completes checkout and their payment is processed by Stripe
2. Funds are held — The payment is held in the CoinDuffle platform account
3. You fulfill the order — Ship the product and add tracking
4. Payout is initiated — After the applicable holding period, funds are transferred to your Stripe account
5. Funds hit your bank — Stripe deposits the money into your connected bank account

Setting up Stripe Connect is what enables steps 4 and 5 — connecting your bank account to the payment system.

What You'll Need

Before starting the Stripe Connect onboarding, prepare:

For Individual Sellers

• Full legal name
• Date of birth
• Last 4 digits of SSN (full SSN may be required for higher volumes)
• Home address
• Bank account and routing number
• Phone number

For Business Entities

Everything above, plus:

• Legal business name
• Business EIN (Employer Identification Number)
• Business address
• Business type (LLC, Corporation, Partnership, etc.)
• Business website or CoinDuffle store URL

Step-by-Step Setup

Step 1: Initiate Stripe Connect

1. Navigate to Seller Dashboard → Payments
2. Click Set Up Payments or Connect with Stripe
3. You'll be redirected to Stripe's secure onboarding flow

Step 2: Choose Your Account Type

Select whether you're setting up as:

• Individual / Sole Proprietor — For individuals selling under their own name or a DBA
• Company — For LLCs, Corporations, Partnerships, and other registered business entities

Step 3: Enter Personal Information

Provide your personal details as the account holder or authorized representative:

• Full legal name (must match your government-issued ID)
• Date of birth
• Address
• Phone number
• SSN (last 4 digits initially; Stripe may request the full number for verification)

Step 4: Enter Business Information (if applicable)

If you selected a business account type:

• Legal business name
• Doing Business As (DBA) name, if different
• EIN
• Business address
• Industry category — Select "Retail" or "Jewelry and Precious Metals"
• Business website — You can use your CoinDuffle store URL

Step 5: Connect Your Bank Account

Provide your bank account details for receiving payouts:

• Bank name
• Routing number (9 digits)
• Account number
• Account type (checking or savings)

Important: Double-check your routing and account numbers. Incorrect bank details will cause payout failures and delays.

Alternatively, you can connect your bank account by signing in to your bank through Stripe's secure bank linking flow (powered by Plaid).

Step 6: Verify Your Identity

Stripe may ask you to upload a photo of your government-issued ID for identity verification. This is separate from the CoinDuffle KYC process and is required by Stripe's compliance team.

Step 7: Review and Submit

Review all the information you've entered. Once submitted, Stripe will verify your details. This usually takes just a few minutes.

Step 8: Return to CoinDuffle

After completing the Stripe onboarding, you'll be redirected back to your CoinDuffle seller dashboard. Your payment status should show as Connected or Pending Verification.

Verification Status

After completing onboarding, your Stripe account may show one of these statuses:

Common Issues

"We need additional information"

Stripe may request additional documentation after initial setup. Common requests include:

• Full SSN (if only the last 4 were provided initially)
• A photo of your government-issued ID
• A bank statement or voided check to verify your bank account
• Business registration documents

Check your email for messages from Stripe, or visit your Stripe Dashboard directly.

Bank Account Verification Failed

If your bank account couldn't be verified:

• Confirm the routing and account numbers are correct
• Make sure the account is a US bank account
• Try using the bank linking flow (Plaid) instead of manual entry
• Contact your bank to ensure they support ACH deposits

Account Restricted

Stripe may restrict your account if required information isn't provided within their deadline. To resolve this:

1. Log in to your Stripe Dashboard
2. Look for any alerts or action items
3. Provide the requested information
4. Contact Stripe support if the issue persists

After Setup

Once your Stripe Connect account is fully verified:

• You can accept payments — Buyers can purchase your products
• Payouts will be processed — See Payout Schedule for timing
• Access your Stripe Dashboard — View transactions, balances, and payout history at dashboard.stripe.com

Security Notes

• Your bank details are stored securely by Stripe, not by CoinDuffle
• Stripe is PCI Level 1 certified, the highest level of payment security
• Enable two-factor authentication on your Stripe account for additional security
• Never share your Stripe secret keys or login credentials

Frequently Asked Questions

Can I use a different bank account for payouts?

Yes. You can update your bank account in your Stripe Dashboard at any time. Go to Settings → Bank accounts in Stripe.

Do I need a business bank account?

No. You can use a personal checking account. However, a business account is recommended for cleaner bookkeeping and tax purposes.

Can I have multiple Stripe accounts?

Each CoinDuffle store can be connected to one Stripe account. If you operate multiple stores, each will need its own Stripe account.

What if I already have a Stripe account?

You can connect your existing Stripe account during the onboarding process. Stripe will recognize your login and link your existing account to CoinDuffle.

Is there a fee for Stripe Connect?

There is no fee from CoinDuffle. Standard Stripe payment processing fees (2.9% + $0.30 per transaction) apply to card payments — this is Stripe's fee, not CoinDuffle's. CoinDuffle charges no platform fees or commissions. See Fees & Pricing for details.