#wkdshogun (Patrick)

1 messages · Page 1 of 1 (latest)

whole questBOT
gritty eagle
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Hello 👋
Toby had to step away but I can help you with your questions. Can you give a short summary of what you need help with?

obsidian lance
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If I am making a stripe express account (versus a stripe connect account)

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and looking at doing a mvp marketplace

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it mentions that transferring to US users is not an option (we are UK based)

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well I mean it does not give the option for transfers in the US

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does this mean US users cannot use my platform effectively or does it mean I would need to manually pay them somehow

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'Transfers can't be added to accounts in these countries. We added payments instead.
United States'

gritty eagle
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I believe cross border transfers and payouts are only available for US platforms

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Moving money across country borders introduces additional requirements and is supported in the following scenarios only:

EU platforms sending funds to SEPA countries.
US platforms sending funds to cross-border payouts destinations using a recipient service agreement.

With that said,

If you’re not covered by these scenarios, create a platform account in that same region and onboard accounts to that account. Depending on your business structure, this might require creating a legal entity in that region and additional work to onboard users to the new platform account.

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So you'd likely need to create standard accounts for the US and use direct charges for payments OR maybe create another platform account in the US

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does that make sense?

obsidian lance
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Yes that makes sense which means having a US entity

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If we went the standard direct charge route, that would be OK, but what about in the scenario that we get customers on our website and they want to check out with multiple vendors (selling different things)?

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they would need to do the transaction in stages (if it is direct charge) e.g. all the transactions per vendor (one at a time)?

gritty eagle
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Yeah it would need to be two separate charges (direct for US + destination for EU)

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You could technically save the payment method on platform as well as connected account

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And run these charges off-session

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So customer won't need to checkout separately

obsidian lance
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ok thanks I wil check that. So basically were you saying with the standard account the restriction for the US is not an issue as the money goes to the user and platform on a split automatically

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whereas it is more of a hurdle with express for US based vendors (without a US entity for our business)

gritty eagle
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With Standard Accounts + Direct charges, funds move settle on the connected account (& application fee goes to the platform - cross border restrictions don't apply here)
With Express Accounts + Destination charges, funds move settle on the platform account (& then the remaining amount after platform fees is transferred to the connected account)

With Express + Destination, Only US platforms can send cross border transfers. Since your platform account is in the UK that's not possible. If you create a US entity then you can use Destination charges.

An alternative here is to settle the funds on connected account with Direct Charges (& Standard Accounts)

obsidian lance
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Thanks for the explainer, if looking at 'separate charges and transfers' as a charge type, the cross border restriction still appears to apply?

gritty eagle
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Yup

obsidian lance
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ok thank you for clarification.

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Well as long as we can use Apple Pay and Gpay still, I think that might tilt us towards a standard account with US customers/vendors in mind

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I assume Stripe would help us migrate in future, if we decided to go to Express later on, and at which point we'd need our vendors to update their details

gritty eagle
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Well as long as we can use Apple Pay and Gpay still, I think that might tilt us towards a standard account with US customers/vendors in mind
Yup you should be able to 🙂

I assume Stripe would help us migrate in future, if we decided to go to Express later on, and at which point we'd need our vendors to update their details
Not sure to be honest as our team on discord doesn't know a ton about account migrations. You can talk to our support team about this. They would know about the process and should be able to provide concrete answers
https://support.stripe.com/?contact=true

Stripe: Help & Support

Find help and support for Stripe. Our support center provides answers on all types of situations, including account information, charges and refunds, and subscriptions information. Get your questions answered and find international support for Stripe.

obsidian lance
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appreciated thanks!

gritty eagle
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NP! 🙂 Happy to help
Good Luck