As you review your weekly finances, you notice your latest DoorDash payout hasn't arrived. Your mind races through potential issues – a bank error, a missed notification, or outdated business information? This can impact your cash flow and operations but don't worry. We're here to guide you through updating your details to keep those payments coming in smoothly.
What are common reasons for payment delays?
Before we dive into updating your information, let's look at some common reasons why payments might be delayed:
Bank account hiccups: Maybe you incorrectly typed your account number, or your account got closed.
DoorDash fraud concerns: If suspicious activity happens on your account, we might pause payments to investigate.
Stripe fraud flags: Our payment processor, Stripe, might spot something that raises suspicion.
CP2100 tax regulation: This is when the information you gave us doesn't match what the IRS has on file.
Outdated or missing business information: If you have missing or incorrect business information If you want to update your bank details, head over to How to Set Up Your Restaurant’s Banking Information.
What is the process required for us to debit your bank account?
DoorDash works with Stripe, a payment software company, to process payments. Stripe and other payment processors must follow specific federal requirements, including collecting particular information, such as your identity, bank account information, and more. This process is sometimes referred to as "Know Your Customer" (KYC). You must complete this process to continue receiving payments.
What information do you need to provide?
The specific details required can vary based on your location and business type. Generally, you'll need to provide information about:
Yourself/the owner of the business
Your business details
Any individuals who ultimately own or control the business
This information helps prevent abuse of the financial system and protects both your business and Stripe.
How do I know what I need to submit?
The Stripe form–which you may see on your banking page in the Merchant Portal or appear in a new tab–is customized to your store and only asks for the information needed for your specific situation. You can also follow these “common requirements” recommendations for your submissions/document uploads. Please note that color documents are only required for the identification check.
Why is updating your business information important?
Keeping your business details accurate and up to date also offers several benefits:
Prevents payment delays: Accurate information ensures your payments are processed without interruption.
Avoids account suspension: In some cases, outdated information could lead to temporary account holds.
Maintains compliance: Up-to-date details help meet regulatory requirements and reduce the risk of fraud.
By taking a few minutes to update your information, you can save time and avoid potential issues down the road.
How to update your business information
Follow these steps to update your details:
1. Log in to the Merchant Portal.
2. On the left-hand side, choose Settings.
3. Select the Bank Accounts tab.
4. Look for the red alert module at the top of the page. Select Go to Stripe in the alert module. You will be redirected to Stripe's platform to update your information.
5. Click Edit on each section to add your details. It will say “Incomplete” next to any sections that still require your information. You can choose update to make changes.
6. Select Save when you're done.
Note: Stripe may take a few days to review and approve your information.
If the above information is not accurately input when setting up your payout account, you may be emailed by our team and prompted to add in these details.
How will I know my information has been approved?
Once approved, you'll no longer see the yellow card on your home page or the red banner on your Bank Account page.
Why were my submissions/document uploads rejected?
All the information provided needs to match for Stripe to approve it. That includes:
Account representative’s identity check: The document must have a date of birth and home address that match those entered under the account representative’s details.
Account representative’s home address check: This document must match the home address that is entered under the account representative’s details
Directorship verification: The number and names of the Directors need to be entered exactly as they appear on the document submitted for this section in the list of Directors.
Business Registration verification: The business address and registration number must appear on this document and match exactly what is entered under the Business Details section.
Are my payments blocked now?
In advance of your payments being blocked, we will try to give you a heads-up that there’s an issue. If you do not complete the required information, Stripe may hold payouts until all required information is collected. Please update your information as soon as possible to avoid any payment interruptions.
Frequently asked questions
Is providing this information required?
Yes, Stripe’s regulators require this information to continue processing your payments.
Why is this information needed now?
Requirements can change based on regulations, business size, or the products you sell. As businesses grow or regulations update, additional information may be necessary.
I use Stripe for other services and haven't been asked for this information. Why?
DoorDash processes a high volume of payments through Stripe, which may require us to meet more stringent verification requirements than other services.
Are there any specific requirements for Canadian merchants?
Yes, due to updated Money Service Business regulations in Canada, Stripe now requires additional business-specific information and documentation to process payments for Canadian merchants.
Is DoorDash storing this data?
At no point is DoorDash in possession of the data. DoorDash is simply linking directly to Stripe’s system.
What if I need help or have more questions?
If you need assistance or have concerns, please reach out to DoorDash Support.
FRAUD WARNING: Remember, DoorDash will never ask for sensitive information like bank details or login credentials via email, text, or phone. Always share your information securely through the Merchant Portal or via a Support call you initiate.
By keeping your business information up-to-date, you're ensuring smooth operations and timely payments. Taking the time to add in these details as soon as possible can make a significant difference in your DoorDash experience.
Want to learn more about managing your DoorDash account? Check out our guide on Understanding Your DoorDash Payout and Monthly Statement.
