#mdcopley08-ach-credit

1 messages · Page 1 of 1 (latest)

celest streamBOT
tepid dirge
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mdcopley08-ach-credit

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@oblique osprey no that wouldn't work. That bank account number we give you for ACH CT, is only for receiving funds and it can't be debited

oblique osprey
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Okay got it - is there a way on Stripe to generate bank account info that can be used for debiting that pulls from a Stripe account?

tepid dirge
oblique osprey
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Okay, that sounds great actually - we're a vacation rental platform and each of the buildings we manage has their own bank account because we do finances + expensing + reporting at the building level

Do you think this product makes the most sense for that? For example, we'll want to be paying on-site staff through the building's account, any vendors they use for marketing, etc

tepid dirge
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It might work yes if each building has their own Stripe account and you create a Treasury FinancialAccount for each

oblique osprey
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Okay got it, we already have Connected Accounts for each building so it sounds like we'd just need to create the TreasuryFinancial account for each?

tepid dirge
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it's a bit more involved than this, you also have to move money in and out of that account.

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I'd recommend reading the docs for it carefully!

oblique osprey
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Yes, this is really helpful! I've been reading the docs

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But from my understanding so far it would allow us to essentially have a bank for each of our connected accounts that we can ACH credit / debit, wire transfer, and create stripe cards (through issuing) from?

Does that still require an external bank to be connected to it that's off of Stripe and Stripe Treasury? Or would this completely replace a building level bank account we manage outside of the platform on SVB for example

tepid dirge
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Yeah you don't need a bank account in that case

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and you can pay out from your Treasury's FinancialAccount to your own bank account if needed

oblique osprey
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Okay great, this is really helpful!