atulpal | Stripe Developers | Page 1

empty gardenBOT Feb 3, 2023, 6:35 AM

#

viscid cypress Feb 3, 2023, 6:38 AM

#

Stripe doesn't offer transfer and payout from Stripe account to bank account. Connected account should be used for transfer and payout

ripe tulip Feb 3, 2023, 6:39 AM

#

so it means I have to setup connect account for each and every customer who wants to withdraw money from our application wallet.

viscid cypress Feb 3, 2023, 6:39 AM

#

Yup!

ripe tulip Feb 3, 2023, 6:41 AM

#

but In connect account setup I think we have to update the account link to KYC and verification so it would be necessary for all users to do that.

viscid cypress Feb 3, 2023, 6:43 AM

#

Yes, it's part of regulatory requirement to complete the onboarding process on the connected account for paying out

ripe tulip Feb 3, 2023, 6:44 AM

#

So , It is possible that we can only create a single connect account and payout from there to users.

#atulpal