Requirements for Setting Up Payment Processing and Automatic Bank Transfers in Dockwa

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In order for your account to be fully activated on Dockwa, you are required to be in compliance with all guidelines and rules for PCI, Know Your Customer, and FinCEN Customer Due Diligence.

Dockwa and our payment processing provider, Stripe.com, are required to collect, verify, and maintain information on the individuals associated with each account. These requirements come from Stripe's regulators and financial partners and include implementation of the FinCEN Customer Due Diligence rule (linked above), which requires the identification of those individuals with control over an account (also known as beneficial owners). These requirements are intended to prevent individuals from using complex schemes to hide terrorist financing, money laundering, tax evasion, and other financial crimes.

One of the primary reasons we can get users up and running so quickly is through the unique registration process we have implemented with Stripe. They use an individual's information like date of birth and SSN, to programmatically verify their identity so they can start and continue to accept online payments and store credit card information on behalf of your clients.

Should you have any questions regarding this please email the Dockwa Support Team directly at mayday@dockwa.com.

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