#meisei81
spare garnet
undone badger
đź‘‹ What is your question about?
frosty fog
Hi, I asked a question about payout schedule this moring
Could you re-open that thread?
undone badger
You can follow up in this thread
frosty fog
ok
In that thread, there's an image which is a screenshot of the email from your support team
It seems that your support team says the payout period is 7 days
but I found that we set it to 3 days
undone badger
The default payout speed depends on your account country: https://stripe.com/docs/payouts#standard-payout-timing
It's possible to have accelerated payout speed in Europe and Canada: https://stripe.com/docs/payouts#accelerated-payout-speeds-in-europe-and-canada
frosty fog
The "account" means that the merchant's or the platform's?
We're the e-commerce platform and our merchants are from all over the world.
undone badger
If you're referring to connected account payout, it will be based on connected account's country
frosty fog
So, it means the merchant account's country, right?
undone badger
If you're using platform and have merchant as connected account, then yes
frosty fog
ok
But from the screenshot, it seems that we platform can change the payout frequent. How can I do that?
versed glacier
Hi @frosty fog https://stripe.com/docs/api/accounts/update#update_account-settings-payouts-schedule you can update the payout schedule through this API.
frosty fog
https://stripe.com/docs/payouts#standard-payout-timing The timing is the minimum delay days of the express account's country?
versed glacier
What do you mean by delay? are you referring to payout speed?
frosty fog
yes
versed glacier
The payout speed means the amount of time it takes for your funds to become available for payouts and transfers
For example if your customer completed a payment on Monday, and the payout speed is 3 business days, the funds will be ready for payout on Thursday.
frosty fog
what's the different between payout schedule delay days and payout speed
I've retrieved the account detail who provided the screenshot and find that the account's country is ES and the payout schedule delay days is 7, but from the payout timing docs, the payout speed is 3 business days.
versed glacier
OK, the delay_days and interval and the payout schedule, not payout speed. They look similar but very different.
delay_days = 7 means that the funds are held for 7 days before paying out and inverval = 'daily means the payout frequency is daily.
Let me explain with an example, for simplicity let's ignore weekends
Payout speed -> Your customer completed a payment of $10 on 1st Jan, and the payout speed is 3 business days, the funds will be ready for payout on 4th Jan.
Payout schedule -> Because the delay_days is 7, the funds is held until 11th Jan, and a payout is created on that day. Now the funds is transferred to the banking network, and it will take another few days (say 3 days) until the funds finally arrive at the bank account on 14th Jan.
south fossil
Hey, taking over here. Let me know if there's any follow-up Qs I can answer!
frosty fog
So, which part can I modify if I want to shorten the whole flow.
south fossil
Well, the delay_days value is slowing transaction availability of payouts by 7 days
You probably want to reduce that, as you can control that. The actual speed of the payout cannot be changed
frosty fog
So I can change this parameter through update accounts API, right?
south fossil
Yes
frosty fog
the delay_days parameter is not limited with the account's country, right? Because I plan to set to 1 days for all the accounts in our platform
south fossil
There's minimums for each country, yes: https://stripe.com/docs/payouts#payout-speed
When setting or updating this field, you may pass the string minimum to choose the lowest permitted value. The default for Standard accounts is the lowest permitted value for the account, determined by the connected account’s country. If you’re opted in to accelerated payout speeds, Express and Custom accounts remain at your original payout speed by default
https://stripe.com/docs/connect/manage-payout-schedule
frosty fog
For the account in Spain, the minimum delay_days is 7 and I can't set this value less than 7, right?
south fossil
Guess not! Try it
frosty fog
Ok. let me have a try.
Hi, I tried to set a Luxembourg's account's delay_days to 1 but got error.
south fossil
Well, the minimum is 3 days according the docs. So I'd expect an error, but I guess the error is just wrong
south fossil
Not sure really, I guess it's something related to the connected account or your platform configuration. I'd recommend speaking to support: https://support.stripe.com/contact
frosty fog
from Jack Tan's explain, the Payout Speed is not same with delay_days, right?
frosty fog
Not sure really, I guess it's something related to the connected account or your...
ok. I'll give it a try.
south fossil
According to this it's the same:
This field is useful for dictating automatic payouts. For example, if you want your connected accounts to receive their funds 2 weeks after the charge is made, set interval to daily and delay_days to 14. When setting or updating this field, you may pass the string minimum to choose the lowest permitted value. The default for Standard accounts is the lowest permitted value for the account, determined by the connected account’s country
https://stripe.com/docs/connect/manage-payout-schedule
Seems like using delay_days: 'minimum' is your best option for your accounts – will automatically set it to the min. according to account country
frosty fog
So the default value is not the minimum value?
south fossil
Seems it is for Standard accounts yes
frosty fog
But we're the express accounts, so there's some difference between the two types account.
south fossil
Then try setting minimum
south fossil
Yeah, I'm not sure. Support are better suited to understand and help with this
frosty fog
Ok. I'm chatting with them now. Thanks.