Set up, verify, and update your payout information on ZenVideo OTT

This article discusses how you can set up, verify and update your payout information on ZenVideo OTT.

In this article: 

• How do I set up the payout?
• What are the common verification issues?
• How do I update the payout information?
• How do I set up a Bank account?
• How do I verify ownership of the Bank account?
• Frequently Asked Questions

How do I set up the payout?

The first step to getting paid is completing your payout information on the Payout settings page.

⚠️Note: Anyone who is listed as an Admin of your ZenVideo OTT site has access to the Payouts page; members do not. 

Here's what you have to do to get paid:

1. Navigate to Site > Billing to get to the Payout page.
2. Select your Business Type and enter your Business Name, then click Next.
3. At this point, you will be redirected to our payment processor’s site (Stripe), where you will fill in your information and verify your business. Note that the information required may vary based on your location.  Click Get Started → to proceed through the form.
   
   
4. When you’ve completed filling in all the required information, you’ll be redirected back to your ZenVideo OTT Payout page and should see a notification indicating that your account is verified. 

If at any point you select “Save for Later” in the form, your account may display a notification indicating that your account is not verified. You will not get paid if you are not verified. 

Why is this required?

“Know your customer” (KYC) obligations require Stripe to collect and maintain information on all Stripe account holders, including Stripe accounts created through ZenVideo OTT. 

You can find more information directly from Stripe’s help center.

Each supported country has different requirements. Some of the required information includes but is not limited to:

• A bank account in that country denominated in a supported transfer currency for that country or supported transfer currencies by country; see which currencies Stripe supports. (This must be a physically located bank in that country, not a "virtual" account).
• A Tax/EIN/VAT or the equivalent ID in that country.
• A physical location in that country at which you are able to receive mail (cannot be a P.O. box).
• A phone number in that country.
• A government-issued ID, such as a passport or driver's license.
• A working website that shows what your business sells or what services you provide.

Stripe’s requirements by U.S. business entities can be found here.

You can check the status of your verification from your billing page. Upon logging in, select Settings > Billing and click Update for the full details of your business and bank account details. 

Account owners and administrators will be notified if there are issues with verification or if additional information is required.

If you are unverified, your site will have this red banner indicating that Stripe requires more information or that something has failed verification.

When you click Update now, you will be redirected to the page containing your business information. Select Go To Stripe located at the top of the page and you’ll be redirected to Stripe’s onboarding page where you can fill in the required information. 

Disclaimer: Stripe may require more information in the future even after verifying.

What are the common verification issues?

Verification issues can happen due to various reasons. Here are the most common and how to resolve them.

Issues with business details

Your business name may not match the EIN or tax ID equivalent according to your business registration documents. The tax ID number and the business name must be written exactly as the IRS (or equivalent for non-US) has on record, including but not limited to capitalization and punctuation marks. Do not abbreviate your business.

For U.S. businesses: You can request a copy of your SS-4 or letter 127C from the IRS to confirm the exact business name and EINs. You can find more information from Stripe’s help center.

If you’re filing as an individual entity and using your SSN, please ensure that your name is written the same as your tax filings. If you have recently changed your SSN, please contact support. 

Documentation

In some instances, Stripe may require additional support documentation to verify the business entity. If all the information inputted is correct but is not verified, then there might be an issue with the documentation.

Document upload requirements:

• Documents must be clear and large enough to read
• Documents must be valid and representative of up-to-date registration
• Complete documents must be uploaded. A complete document is defined as:
• The full business name, business address, and either VAT number OR company registration number of the incorporated entity are clearly stated and legible
• If this information is spread across multiple pages of your document, please upload a PDF containing all the relevant pages
• Documents can be uploaded in .pdf format

ID upload requirements:

• ID must not be expired
• ID must match the individual whose information is being verified
• ID must not be redacted, altered, or damaged.
• If the ID is from the Netherlands, make sure your citizen service number (BSN) is not visible in the photo.
• The ID must be in color; front and back are required
• Must be in .png or .jpg format

How do I update the payout information?

If you’ve previously set up a payout but need to update your information, navigate to Site > Billing to go to the Payouts page, then click Go to Stripe. 

⚠️Important: If you see a notification on your Payout page indicating your account is not verified, you must update your information via Stripe in order to get future payouts.

You can then update your information directly within Stripe.

You can update your address on your own this way. Updating other details such as the business type, EIN, business name, representative information, etc. requires "unverifying" the profile first via Stripe. Please contact our support team so we can do this for you.

At this time Stripe does not allow switching the country. You will need to create a new OTT account entirely with the correct country.

How do I set up a Bank account?

You can update the bank account on file from the same page.

Scroll down to Bank Account Details and under business representative, you’ll see the option to edit the bank account details. 

How do I verify ownership of the Bank account?

This applies to US-based accounts ONLY.

If Stripe is unable to verify the bank account information provided, they will require additional documentation to verify the bank account information. This is so they can confirm that the legal owner’s name and bank account number are the same as the connected Stripe account. 

To avoid any delays with setting up the account or payouts, please ensure the following:

• If you are a sole proprietor, partnership, or single-member LLC, your bank account needs to be registered under your business DBA or representative name of your Stripe account.
• If you are an LLC or corporation, Stripe requires that the bank account is in the company’s legal business name or DBA.

Frequently Asked Questions

How long does verification take?

• This can take up to 24 hours according to Stripe.

Are payouts/transfers impacted while unverified?

• During the review, you are typically able to receive payment from customers and payouts. Stripe may disable payouts first if you are unverified for too long.

• For immediate assistance, please contact ZenVideo OTT support.

Will I receive notice if more information is required?

• Yes, you will be marked as unverified and then our system will notify account owners via email. Your site will also have a notice.

I am receiving notifications about verification but no longer wish to receive them.

• If you are no longer using your ZenVideo OTT site, please reach out to our support team to assist you with properly shutting down the site to prevent further notifications about verification. 

Do I really need to provide my SSN or birth date?

• For those regions that require it, yes, your Social Security number and Date of Birth are required. This information is used for anti-laundering and Know Your Customer regulations but not for tax purposes. You can read a bit more about the requirements for Identity verification for custom accounts and requirements for US Stripe accounts.