Before any grant reaches a non-profit, ActionFunder carries out due diligence checks on every organisation on our platform. Part of that process uses Stripe, FCA regulated, and one of the world’s most trusted payments infrastructure providers, to carry out a series of regulated checks alongside ActionFunder’s own. Here’s what that involves and why it matters for you.<\/p>\n\n\n\n
Stripe is regulated as a financial institution and is used by ActionFunder to verify the bank account details of non-profits during our due diligence checks. Because Stripe is legally required to verify every organisation it processes payments for, their checks form a robust, independent layer of our due diligence.<\/p>\n\n\n\n
This means you can be confident that every organisation receiving your grants has had their banking details verified before any money moves.<\/p>\n\n\n\n
As part of verifying a non-profit’s bank details, Stripe runs a series of regulated checks – collectively known as KYC (Know Your Customer) and KYB (Know Your Business). These are standard practices across the financial industry.<\/p>\n\n\n\n
1. Identity verification (KYC )<\/strong> – Confirms that the individual setting up the account on behalf of the organisation is who they say they are, using personal details and government-issued ID.<\/p>\n\n\n\n 2. Business verification (KYB)<\/strong> – Confirming that the organisation legally exists and is in good standing, cross-referenced against Companies House and other registered sources.<\/p>\n\n\n\n 3. Beneficial ownership<\/strong> – Identifying anyone who owns or controls 25% or more of the organisation, as required under UK money laundering regulations.<\/p>\n\n\n\n 4. Sanctions and PEP screening<\/strong> – Automatically checking individuals and organisations against global sanctions lists and Politically Exposed Persons databases.<\/p>\n\n\n\n 5. Bank account verification<\/strong> – Confirming that the account provided for payouts belongs to the organisation and is valid.<\/p>\n\n\n\n 6. Business activity review<\/strong> – Assessing that the organisation’s stated activities are within permitted use under Stripe’s Terms of Service.<\/p>\n\n\n\n 7. Ongoing transaction monitoring<\/strong> – Continuously reviewing activity for unusual patterns and re-screening against updated compliance data after onboarding.<\/p>\n\n\n\n Every non-profit receiving grants through ActionFunder has passed these checks. You don’t need to carry out your own payment due diligence – we’ve already done it.<\/p>\n\n\n\n Stripe’s verification sits alongside ActionFunder’s own eligibility and vetting tools, giving you an additional, independent layer of assurance on every organisation you fund.<\/p>\n\n\n\n Get in touch with our support team at customersuccess@actionfunder.org.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Before any grant reaches a non-profit, ActionFunder carries out due diligence checks on every organisation on our platform. Part of that process uses Stripe, FCA regulated, and one of the world’s most trusted payments infrastructure providers, to carry out a series of regulated checks alongside ActionFunder’s own. Here’s what that…<\/p>\n","protected":false},"author":7,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"ht-kb-category":[30],"ht-kb-tag":[],"class_list":["post-153","ht_kb","type-ht_kb","status-publish","format-standard","hentry","ht_kb_category-due-diligence-and-payments"],"_links":{"self":[{"href":"https:\/\/help.actionfunder.org\/funders\/wp-json\/wp\/v2\/ht-kb\/153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/help.actionfunder.org\/funders\/wp-json\/wp\/v2\/ht-kb"}],"about":[{"href":"https:\/\/help.actionfunder.org\/funders\/wp-json\/wp\/v2\/types\/ht_kb"}],"author":[{"embeddable":true,"href":"https:\/\/help.actionfunder.org\/funders\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/help.actionfunder.org\/funders\/wp-json\/wp\/v2\/comments?post=153"}],"version-history":[{"count":0,"href":"https:\/\/help.actionfunder.org\/funders\/wp-json\/wp\/v2\/ht-kb\/153\/revisions"}],"wp:attachment":[{"href":"https:\/\/help.actionfunder.org\/funders\/wp-json\/wp\/v2\/media?parent=153"}],"wp:term":[{"taxonomy":"ht_kb_category","embeddable":true,"href":"https:\/\/help.actionfunder.org\/funders\/wp-json\/wp\/v2\/ht-kb-category?post=153"},{"taxonomy":"ht_kb_tag","embeddable":true,"href":"https:\/\/help.actionfunder.org\/funders\/wp-json\/wp\/v2\/ht-kb-tag?post=153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What does this mean for you as a funder?<\/h3>\n\n\n\n
Still have questions?<\/h3>\n\n\n\n