#Milind
iron root
zinc onyx
hi there, how can I help?
dull kiln
Hey
I need to transfer money from stripe account to vendors bank account
how can i do that?
zinc onyx
is your vender a connected account?
zinc onyx
Yes. A platform can transfer funds to a connected account.
dull kiln
Is it ok, if my stripe account is registered in India, and I can transfer to a vendor un united kingdom?
zinc onyx
No, cross border payouts is currently available in Stripe accounts based in U.S.
dull kiln
Ok, is there any other way, we can transfer funds without using stripe connect?
zinc onyx
Not as I know of.
dull kiln
like direct transfer to bank account / Debit card / Credit cards
ok, So I need to register my stripe account in US, and from there I can use stripe connect to transfer funds across the globe. right?
zinc onyx
Your recipients needs to be your connected accounts, and they need to complete the onboarding.
dull kiln
ok
After that, recipients can transfer the funds to their own local accounts from their dashboard
right?
zinc onyx
The platform can create a payout on behalf of a connected account, and the funds will be transferred to the bank account
dull kiln
Sory didnt get you in last message.
zinc onyx
Cross-border payouts are only applicable to express or custom account, and they don't have access to Dashboard to create a payout, and that's why platform need to create payouts for them
dull kiln
ok,
So we can request payout from our account on behalf of connect account. and the connected account will gets payout in their bank account.
but when the connected account user will enters his bank details??
zinc onyx
During onboarding
dull kiln
ok
thanks,
Is there any way, user wants to change their bank details. then how can they do that?
zinc onyx
The platform need to set the new bank account programmatically. see https://stripe.com/docs/connect/payouts-bank-accounts?bank-account-collection-integration=direct-api
