You will need a Stripe account to become a Paid Provider so that Magnifi call earnings can be deposited to your bank account. Stripe is free for you to use - Stripe earns fees for every payment transaction, but these fees are borne by Magnifi.
Free Providers or Users who do not intend to become Paid Providers do not need to set up Stripe on their accounts
When setting up your Stripe account within the Magnifi app:
- If your country of residence is not listed, Stripe may not currently be operating in your country. Please see stripe.com/global for a list of eligible countries. Email Magnifi's Support team for other possible solutions.
- If you are an individual without a registered business, select Your business type as Individual/Sole Proprietorship and for Business address, use your personal address.
- For the Bank details section, consult your bank's website to find relevant details. For example, Canadian accounts require the Transit, Institution, and Account Numbers, which can be found online and on printed cheques -> see TD Bank's sample cheque.
- See Stripe's Bank account formats by country and select your country from the drop-down menu for a listing of required bank details.