#wangtao
patent wedge
eager cosmos
Hi there
First, it sounds like you are using Separate Charges & Transfers, correct?
keen bolt
I believe so
eager cosmos
Okay and you are familiar with the restrictions for transferring cross border/region?
keen bolt
I'm not familiar with that
keen bolt
First, it sounds like you are using Separate Charges & Transfers, correct?
I don't actually remember it if it's called Separate Charges and Transfers now. But what I'm doing is that I'm using Stripe Elements to collect buyer's payment, then in the backend I create a transfer using stripe.transfers.create and specifiy a source_transaction to buyer's payment transaction, to a custom Connect account
eager cosmos
Are you ever transferring to multiple Connected Accounts or transferring later after the charge was created (as in not immediately)
keen bolt
Only one account usually
It's actually working well, but we want to expand our business to another country which requires adding another currency
eager cosmos
Right but if you use Separate Transfers like you are doing you can't expand to other countries unless they are in the same region (like EU)
keen bolt
Yes it's in EU
eager cosmos
Okay then that works
So in that case, currency conversion will happen based on the settlement currency on your platform account
Have you read through https://stripe.com/docs/connect/currencies yet?
keen bolt
Not yet, thanks for yor explaination
Is there a cost for converting one currency to another?
eager cosmos
Yes there is
Typically there is a 1% conversion fee. I believe it is mentioned on https://stripe.com/pricing
Overall though I don't know a ton about pricing as I focus on the API so if you need more pricing info then you will want to talk to our Support team about that side of things via https://support.stripe.com/contact/login
keen bolt
I see, thanks!