How to create your Collab365 MicroJobs Stripe account

Posted in Help Centre, by fraserb View all Posts

This post will help you get your Collab365 MicroJobs Freelancer Stripe account up and running so that you’re ready to start earning money from the platform.

What is a Stripe Connect Account and why do you need one? 

Stripe Connect is the 3rd party payment provider that we have partnered with to provide a secure and safe way for payments to be taken and money from MicroJob sales to be managed and passed to the Freelancers.

Each Freelancer who wishes to sell their services and skills on the site will need go through the Stripe on-boarding and verification process to create their Stripe account and be ready to sell on the MicroJobs Platform. To complete this process, you will need to provide various pieces of information including Name, Address, Date Of Birth and scanned ID as well as any relevant business-related information.

Can I use my existing Stripe account?

No, this is a particular type of Stripe account that is solely for use within the MicroJobs platform.

How do I create my Stripe Account?

The video below explains the basic steps for creating your Stripe Account on the Collab365 MicroJobs site. The process is managed from within the ‘Account Details’ section of your profile on the ‘Stripe Account’ tab. You will also be prompted to setup your Stripe Account after being approved as a Freelancer. You may also be prompted at any time when further information is needed (by Stripe) to keep your account active. When information is needed the warning message in the top bar of the site (next to the search box) is shown.

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The main steps are as follows:

Step 1. Account Creation

Fill in the first form containing, Type (Company or Individual), Business Name (only visible when Company is chosen),  First Name, Last Name, Email Address, Country, and a check box to agree to the Stripe terms. Once filled in, click the ‘Create Stripe Account’ button. From this point onward you will have a Stripe account and can sell MicroJobs, however you will be required to provide further personal data shortly after in order to maintain the “Verified”, “Payments” and “Payouts” statuses. These will ensure you can receive funds and transfer them to your personal bank account.

Step 2. Account Verification

You will be prompted from within the Account Details UI as to what further information is being requested by Stripe at this time. Please note, the items requested will vary by country and account type.

You will also be able to see your verification status for each of the 3 elements.

VERIFIED – When this is red it means further information is required, orange means it is pending and usually means something is currently being reviewed, and green means the account is verified and good to go.

PAYMENTS – This means you can accept orders\payments on your MicroJobs. This will go red if you haven’t provided the further information that is being asked for, if your account is ever temporarily blocked by the admin or if Stripe has detected a fraud risk.

PAYOUTS – This is green when you have added a bank account meaning you can withdraw available funds from your orders into your bank account. This will change to red if you haven’t provided a bank account, when further information is being asked for, if your account is ever temporarily blocked by admin or if the system has detected a fraud risk.

To see what details are being asked for, click the ‘Complete Verification’ button, and you can edit the relevant element and provide the information. Each time you update your account and save, Stripe may come back either immediately or at a later date to ask for the next element of data it needs from you.

Whilst the exact details that will be asked for vary from country to country, the data most likely to be asked for by Stripe for the two different account types are as follows.

Individual

  • Name, Date Of Birth, Address, Personal ID or Social Security number, and a Scan of ID.
  • Bank Account Details for funds to be paid out to.

Company

  • Company Details – Business Name, Address, Local Tax or Company reference number.
  • At least 1 Business Representative (who needs to provide the same details as an Individual does above)
  • Additional Owners – You can also provide, and may be asked to do so, details of any individuals who own 25% or more of the Company.
  • Bank Account details for funds to be paid out to.

Step 3. Keep selling MicroJobs!!

Remember that Stripe may ask for further information (at any time) and you may need to provide this information to maintain your verified status and ability to transact. It is always best to address their requests ASAP. You will be notified by email and with the warning message in the system whenever this is the case.

Which type of account should I create, Individual or Company?

This is entirely up to you, and how you are operating. If you are working as part of a company you should create a company account and if working alone you may choose an individual account. It is the Freelancers responsibility to account for their earnings paid out of MicroJobs irrelevant of the type of account created.

How to create your Collab365 MicroJobs stripe account?

This short video gives you the basic steps on how to create both types of account through MicroJobs:

You should now be fully setup and ready to take orders on your MicroJobs.  If you haven’t already, it will also be worth taking a look at our blog posts on getting the perfect Freelancer Profile and how to create the Perfect MicroJob:

How to create the perfect Collab365 MicroJobs Freelancer Profile

How to create the perfect MicroJob.

 

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