This process can sometimes take a few days - so we suggest you commence this process as soon as your event is set up! The good news is, once you have had your bank details verified, your payment profile will be saved for any future events!
Race Roster makes payments to its clients nominated bank account every week (one week in arrears). Before taking your event live, your bank details must be added to your profile and verified through Stripe.
Know Your Customer (KYC) is a mandatory banking process of identifying and verifying someone's identity, be it a person or an organisation. Race Roster utilises a 3rd party called Stripe to run this process on their behalf. This step is required to verify the organisation to receive funds from online registrations.
Important: You do not need a Stripe account to complete this process. It is purely for verification purposes. And this process has nothing to do with any Stripe account you may already have.
WARNING: If you do have a Stripe account, make sure you are logged out. You may need to login and log out of that account before proceeding. If you do not you will get a http 500 error when trying to complete this process.
Important: Payment profiles are user profile based. So if you have multiple staff accessing Race Roster, only the person who originally set up the bank details can add them to the new event.
Before you start
Having the following pieces of information on hand before you start will make the process easier to complete:
- Contact details for the event company/individual
- Verifying as a company or an individual requires an NZBN
- Verification may be quicker by providing contact details for someone who is a Director of the company or holds at least 25% stake in the company
- Bank details where funds will be sent to
When creating a new NZD (New Zealand) payment profile, please follow the steps below:
- Login to your dashboard as an Event Organizer.
- Navigate to the left of your screen to the search bar in the Event Organizer menu. Search and select Payment information. You will then land on the Payment Information overview page.
- Select Create a new NZD payment profile.
- Enter the payment profile nickname. This will allow you to easily identify which payment profile is being set up and allow you to refer back to it later.
- You will need to continue to set up the payment information, which includes person or company name, the preferred email address for notifications of payouts, and country.
- Tip: Use a generic email such as firstname.lastname@example.org to keep them separate from your usual work email.
- Fill in the appropriate payment details to complete the section. NZD payment profiles are only able to accept direct deposit payments at this time.
- Add in your bank details (checking they are correct!)
Account Number field
NZ Account Number on statement is xxxxxxx-xxx. The first 7 digits represent your account. The next 3 digits represent the type of account (cheque savings etc).
Note some accounts may be shorter than 7 in length, or only have 2 digits representing the type.
In Race Roster enter up to 10 digits in the account field and exclude the dash.
Input example: 1234567890
NZ BSB represents a bank & branch. The first 2 digits are the bank. The next 4 are the branch. On a bank statement it will be shown as xx-xxxx.
In Race Roster BSB field enter 6 digits and exclude the dash. Input xxxxxx
Once you're satisfied with the banking information entered, check off the Stripe terms of service and click save.
A pop-up window will appear to ask you to go to Stripe to complete your payment profile.
Tip: Remember you do not need a Stripe account to complete this process. This step is solely used to identify and verify account holders
At this point you will be sent to Stripe to verify your details. You will need company or business details (names, address, phone, email and NZBN) to complete this process.
The following screens are for the AUD process, however the NZD process will be exactly the same.
Enter Business Representative Details:
Review your details:
If Stripe is not able to verify either your business or yourself automatically, you will be asked to provide more information. If you have the required information available, go ahead and load the documents into Stripe (see following steps).
Otherwise you can save for later and come back to it when you are ready. You’ll receive an email from Race Roster like the one shown, with a link to take you straight to your pending payment profile.
Personal details are not verified automatically by Stripe
- If this occurs you will be prompted to validate your identity with a government issued ID card. Select one of these options and follow the steps.
BSB is not verified automatically by Stripe
- You will be prompted with this screen. Either [replace] the NZBN you entered. Or click verify now and provide the supporting documentation.
- If you click to verify you will be asked to provide a copy of one of the following.
- Select the document you have available and continue to upload.
- Once the extra verification steps are complete, your payment profile on Race Roster will show pending until Stripe verifies your identity.
Review Payment Profile status
- Go to settings->payment info
- If you get a green approved, you are done.
- If it says stripe-pending, then verification is still ongoing. In this case, click edit profile.
- and select stripe settings and you will be taken back to stripe to complete the necessary information/verification (refer to verification issues for further information)
Setting up existing payment profiles on subsequent events
- In the new event navigate to settings->payment info
- Select Choose from existing NZD payment (in your account it will look blue)
- Select the payment profile from the dropdown menu
- Click save.