#slurp

1 messages · Page 1 of 1 (latest)

heady starBOT
alpine quarry
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hello! what's your question?

left cradle
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hi, so i have a platform that is using connect express accounts. im wondering if it's possible to send funds to a connected account from my platform that isn't linked to a payment

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for example if i wanted to send a $5 bonus to one of my users but do it from my platforms balance

alpine quarry
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where is your Stripe account (platform) based in?

left cradle
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usa

alpine quarry
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are your connected accounts based around the world, or only in the US?

left cradle
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theyre around the world

alpine quarry
left cradle
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got it so this will transfer the funds to their connect account right? and then those funds will be paid out following my platforms payment cycle?

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or is it directly to their linked bank

alpine quarry
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it'll be paid out based on the connected account's payout settings. It'll be to the connected account's linked bank account

left cradle
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i mean does it go from my platform --> express connected account --> connected account's bank

alpine quarry
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yep, ^ is correct

left cradle
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or my platform --> connected account's bank

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oh ok great

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thats what i was hoping for!

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one more question while i have you here

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my platform is in usd but maybe one of my connected accounts is paid out in euros

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if someone pays for the item with usd, and then i have to payout the connected account in euros, do i pay the 1% conversion fee there, or is it only for payments made to the platform in currencies other than usd

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let me know if that makes sense or i need to reword it

alpine quarry
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no worries, it's fine, i think i get what you're asking. let me do a quick check on that

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yes, you will pay an FX fee (a.k.a. in your words conversion fee) for Transfers to a connected account that has a different settlement currency (i.e. payout currency)

left cradle
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got it, thanks for checking

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and sorry but i want to clarify one last thing from before

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for the example if i wanted to send a $5 bonus to one of my users but do it from my platforms balance, assuming its to a usa account in usd, i dont pay any fees on that transfer right?

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i would assume so because its not technically a transaction with a card but id like to be sure

alpine quarry
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US (USD) -> US (USD) Transfers don't incur any cost

left cradle
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and also sorry one more time (i promise this is the last question) but is it possible to have multiple settlement currencies for my platform

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that way i could avoid conversion fees on some of the more common currencies

alpine quarry
left cradle
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got it, thanks for all your help