dan-burke | Stripe Developers | Page 1

limpid lavaBOT Jan 20, 2023, 1:32 AM

#

lusty mason Jan 20, 2023, 1:33 AM

#

hello! unfortunately this is a limitation, you can only transfer funds in a currency that you have in your balance

#

are you transferring immediately after you receive the payment?

radiant vortex Jan 20, 2023, 1:35 AM

#

yep! using stripe webhooks to know when the corresponding payment intent succeeds, then initiating the tranfer

lusty mason Jan 20, 2023, 1:36 AM

#

another user once mentioned to me that they were planning to use the exchange rate defined on the balance transaction of the PaymentIntent to calculate the equivalent of how much in USD to transfer to the connected account

#

i can't guarantee that the exchange rate on Stripe wouldn't change in the meantime, and it would probably be a good idea to define that in your policy too for your users. But it's an idea to consider

radiant vortex Jan 20, 2023, 1:38 AM

#

ooh, this sounds promising. i'm just not quite seeing how to get the exchange rate from the Payment Intent yet

lusty mason Jan 20, 2023, 1:40 AM

#

sorry, to clarify, are your payments in USD? or a different currency?

radiant vortex Jan 20, 2023, 1:41 AM

#

Payments from our customers could be in a few different currencies

#

Which is what creates the issue

lusty mason Jan 20, 2023, 1:42 AM

#

hmm, to clarify, would you always receive in INR and transfer in INR to the IN accounts?

radiant vortex Jan 20, 2023, 1:42 AM

#

I see how to get the exchange rate now!

#

when you say "transfer in INR to the IN accounts" what do you mean? we can only transfer in USD right?

#

INR isn't actually one of our customer currencies though to answer your question

#

they're EUR, CAD, USD

#

for some context this is part of an international contractor payments workflow 🙂

lusty mason Jan 20, 2023, 1:44 AM

#

ah, then i think that's not going to work

radiant vortex Jan 20, 2023, 1:44 AM

#

🤔 why not

#

oh wait

lusty mason Jan 20, 2023, 1:45 AM

#

so the scenario that i had in mind was that you would accept payments in INR, those payments would auto convert to USD when settled in your account. Then you can find out the balance transaction from the conversion, and use that to transfer to your connected account

#

does that make sense?

#

but since you're accepting payments in EUR, or CAD

#

the exchange rate is from EUR -> USD, or CAD -> USD

radiant vortex Jan 20, 2023, 1:47 AM

#

well this is at least an improvement for me

lusty mason Jan 20, 2023, 1:47 AM

#

you wouldn't make use of the FX from EUR -> USD, to calculate the FX from USD <-> INR

radiant vortex Jan 20, 2023, 1:47 AM

#

but maybe there's a less roundabout way -- to reframe, i'd like to know from a payment intent how much the platform received in USD

#

that way i can transfer all of the USD to the express account

#

but maybe you're pointing out that its not going to the same INR as if it had been paid directly from the customer to the express account?

#

that's a limitation i've been expecting

#

because of fluctuating exchange rate

lusty mason Jan 20, 2023, 1:49 AM

#

ah, it's totally doable to know how much you get in USD

#

if you look at the balance transaction, it should be defined there i think

radiant vortex Jan 20, 2023, 1:58 AM

#

yeah that probably would've been an easier way to ask that didn't quite occur to me 😅 but thank you, this is exactly what i needed!

#dan-burke