Kaartik-exception-live

[surreal mason]

Hello 👋
What's the account ID? Also, can you share the request ID?
https://support.stripe.com/questions/finding-the-id-for-an-api-request

[cedar summit]

Account: acct_1LVtmwRJ6Xj33xxq (transfer destination)

Payment ID pi_3LVyFdEWGxuCsZeL1Kw4Jzr2

Can't find the request ID unfortunately

I was using Stripe's Payment Intents

This was the customerID who tried to pay cus_MBwahZVCkYj9UT

Hey @surreal mason

here are some more details for you please!

[surreal mason]

I believe the connected account still needs activation before it can accept transfers

[cedar summit]

Oh really?

It cannot remain as a floating balance in Stripe?

[surreal mason]

I don't think so as you're using destination charges

[cedar summit]

Sorry I've been off this code for a while and just need to reconfirm

Destination charges meaning that the money goes straight into the bank of the connected account right

[surreal mason]

Destination charges is when platform gets the funds first and then creates a transfer to the connected account
https://stripe.com/docs/connect/destination-charges

[cedar summit]

Ah yes, that

So if I set the application fee amount to be 20% of the charge, then 20% - the Stripe fees goes to the platform right

[surreal mason]

With destination charges the platform is responsible for Stripe fees, yes.

Application fee is what the platform charges

[cedar summit]

Also, I'm trying to understand the difference between settings destination charge and setting On Behalf Of

Is there any reason I need to configure both? or Am I doing this wrongly?

And thank you so much for the clarification on the above :))

[surreal mason]

on_behalf_of parameter defines the settlement merchant.

When you use on_behalf_of:

• Charges are settled in the connected account’s country and settlement currency.
• The connected account’s statement descriptor is displayed on the customer’s credit card statement.
• If the connected account is in a different country than the platform, the connected account’s address and phone number are displayed on the customer’s credit card statement.
• The number of days that a pending balance is held before being paid out depends on the delay_days setting on the connected account.

If on_behalf_of is omitted, the platform is the business of record for the payment.

https://stripe.com/docs/connect/destination-charges#settlement-merchant

[cedar summit]

Oh wow nice I see 😄

Thank you so much!!!

Btw one last question please

Is there any way I can allow a floating balance in Stripe?

Meaning I wouldn't have to have my users activate their account to receive payments, and the funds would be channeled into their accounts once they have activated their account

[surreal mason]

I don't think that would work with destination charges.
You may want to look into Separate Charges & Transfers here
https://stripe.com/docs/connect/charges-transfers

[cedar summit]

Hmm, I've read into this and it seems unlikely that it would work I think?

Is there any way/ anyone I can confirm with if I can maintain a floating balance on Stripe

Wouldn't want to try developing the Separate Charges & Transfers only to find out that users would have to have their account activated before being able to accept charges

(aka the issue I'm facing right now)

[surreal mason]

The only way this could work is with Separate Charges & Transfers
Platform account would process the charges and hold the balance. Once the connected account is activated (you can listen for webhook events), You can create transfers manually (using the API).

There aren't any other ways to keep the funds on the platform and automate the transfer as soon as the account is activated.

[cedar summit]

Okay understood the development process that would be required

Thank you so much Hanzo!!! I really appreciate it :))