Identity verification: deposits vs. payouts

There are two separate identity steps in Closo — one to make large Wallet deposits, and a different Stripe Connect onboarding to receive payouts.

Closo has two separate identity steps. They are easy to mix up, so here is which one does what.

Verifying to make large deposits

If you fund your Wallet to buy wholesale lots, you only need to verify your identity (via Stripe Identity) once your deposit reaches $1,000 or more. The Wallet 'Verify' button is this deposit gate — completing it does not unlock payouts.

Verifying to receive payouts

To receive payouts on wholesale lots you sell, you complete Stripe Connect onboarding from Settings → Payment. This is a separate flow from the Wallet deposit check, and it is the one that lets money reach your bank account.

Go to Payment settings