#stephy

1 messages · Page 1 of 1 (latest)

supple mossBOT
barren hamlet
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hello! how can I help?

left crow
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Hi

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For doing ach payment transfer first I create a stripe account for admin and they set onboarding ...the vendors from the system is login and connect their accounts with this stripe account to recieve payments

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My doubt is ,. Is it important to create stripe account for vendors?

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They can add their bank account to this connect without creating new stripe account for each vendors am right?

barren hamlet
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They can add their bank account to this connect without creating new stripe account for each vendors am right?

no, that's not possible afaik

supple mossBOT
left crow
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Why they can add their bank account externally?

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If am a vendor am connected my account to the stripe account of the admin..is it right?

heady sparrow
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Hi I'm taking over this thread

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As Alex explained earlier, you need to create a connected account for your vendor.

left crow
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Yes I done that

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My question is not that...I create an account using account api and add my bank out also ....

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So the questions is there is multiple vendors in my system ..my question is that all vendors have to create a stripe account or they can connect their account into the admin stripe account.. because admin transfer the amount to each vendors

heady sparrow
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Yes you need to create a connected account for each of the vendor.

left crow
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Ok that means normally we go to stripe dashboard and create our stripe account using email and password..but here we can connect our account to admin main account and we can add our bank account to recieve the amount via ach from admin is am right?

heady sparrow
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I don't quite understand what you mean.

left crow
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So I tell my requirement... actually in my project there is a admin and multiple vendors...admin is the management of all the system .. admin work is to transfer the amount to their vendors ..so to transfer amount admin wants to integrate the ach payment system ...so they can transfer the amount to vendors bank account...

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So for that admin. Have a stripe account they provide their client and secret key to us ..using that we developed a ach payment... using that stripe credentials vendor connect their account with this stripe account and add their bank account to this ...so I question is, the vendors can get the money to their added bank account?

heady sparrow
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There are many "account" in this context, are these "accounts" referring to Stripe account, or bank account?

left crow
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Admin have stripe account

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Vendors of the system connect and add their bank account to recieve payments

heady sparrow
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So the account in your description refers to bank account? -> vendor connect their account

left crow
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I will explain once more

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The admin who is the overall controll of the system consider admin as a owner of company and he have a stripe account and his under lot of employees ..so the owner transfer the salary to each employee bank accounts..to do this employees connect with this owner stripe account and add their external bank account to recieve money

heady sparrow
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You mean adding the employees' bank accounts to the employer stripe account?

left crow
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Yes

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When we create connected account then we add our external bank account also right?

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So we can receive the amount that bank account?

heady sparrow
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Yes, you can add an external bank account to a connect account.

I won't recommend you adding all employee's bank accounts to one single Stripe account, you will have hard time manage the payouts (i.e., which bank should a particular payout goes to).

I'd suggest you create connect account for each employee, and set up the bank account respectively.

left crow
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Yes this i really want ...this i already done ...I create connected account for employees

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Like this way

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So now only admin have the stripe account ... employees only connected accounts ? Is am right? Is this is direct bank transfer?

heady sparrow
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No, there's no direct bank transfer here.

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The fund flow looks like this

  1. Fund transferred from platform's balance to connected account's balance
  2. When the connected account's balance is available for payout, Stripe will create a payout automatically if the connected account is on auto payout
  3. The payout fund is moved from connected account's balance to their bank account.
left crow
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So this is not ach credit transfer,????

heady sparrow
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No it's not.

left crow
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So how would do that ach credit transfer???

heady sparrow
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You can't use ACH credit transfer to move funds from platform to connected accounts.

left crow
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Then what is use of ACH credit transfer? Why we are using these transfers?

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Is I can use this to transfer the money ?

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How can I integrate this one in system?

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Without connectd account can we transfer the amount using ach credit transfer? Then how?

heady sparrow
left crow
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I already read this but I didn't understand

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I don't know how would integrate this one

heady sparrow
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Which part you don't understand? can you be more specific?

left crow
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I already tell my requirement ..how it possible with ach