An Individual Stripe account is registered to a person and uses your name and personal tax information for payouts and reporting.
A Business Stripe account is registered to a company (LLC, corporation, nonprofit, etc.) and uses the business name and tax ID for payouts and reporting.
When to choose each:
• Choose Individual if you accept payments under your personal name and do not have a registered company.
• Choose Business if you want payouts and tax documents issued to a legal entity.