#MarkMerry

1 messages · Page 1 of 1 (latest)

left laurelBOT
fiery shell
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Hi 👋 this may not be easy to accomplish, have you already started scoping or implementing your Connect project? Primarily, have you made a decision on what type of Connected Accounts and charge structure you want to use?

rotund summit
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Hmm, we already have it implemented before coming across the problem

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so we currently say you have the first currency you create and thats it

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but thats not great for the user

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we basically resell (legally) football tickets

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these can be in UK, Europe or US

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and they are in local currency

fiery shell
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Ah, so this is a concern your existing integraiton is running into? Can you tell me more about that? Do you have a specific example that you can share the related payment objects for? What were you hoping to happen or be able to do, and what happened instead?

rotund summit
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I am the BA and not the developer, but I possibly could get the detail

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but in terms of what we are hoping for

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Basically at the moment all accounts are in GBP (ours and the connected seller)

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BUT ..for a ticket in Spain (barca vs Real) the buyer will pay in EUR and the ticket price will be in EUR. The seller has offices (and bank accounts) in London, Barcelona and New York so we would ideally pay their EUR account through Barcelona

fiery shell
rotund summit
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Ah - this!

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In some countries, Stripe users can add extra bank accounts to enable settlements and payouts in additional currencies. You can add one bank account per supported settlement currency. If you use multiple bank accounts, you must select a default settlement currency, which you can change at any time.

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this, eactly this

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So ... do they just add extra accounts to their stripe account then?

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This whole paragraph is spot on what we need - BUT

image.png
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it is vague as to how to actaully do it!

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and which countries can do it!

fiery shell
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The countries is shown in the section above, you select the country from the dropdown and the supported settlement currencies are shown.

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What type of Connected Accounts are you using?

rotund summit
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that isnt what I thought that bit above means

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for me, I chose UK and it says my bank can accept either GBP or EUR

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With multiple accounts, it says that if I add a USD account a EUR account and a GBP account (this one is default), if I am paid in EUR there is no conversion and if I am paid in AUS Dollars it gets conversted to GBP

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CAn you give me spmethign more specific to ask the devs about connected account type - like an example

fiery shell
rotund summit
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perfect, will find out

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we can change that to whatever it needed / works best I think

fiery shell
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A warning, the type of Connected Account you're using is related to the charge structure you're using, changing the type of accounts you're using could require a rebuild of your integration.

rotund summit
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The dev I need is out at lunch it seems

fiery shell
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All good, I'll drop the possible approaches for each account type.

If you're using Standard or Express accounts, then your users are responsible for managing the bank account information they have on record with Stripe.
Standard accounts do so via the Stripe dashboard.
Express account owners do so via the Express Dashboard:
https://stripe.com/docs/connect/express-dashboard

With Custom accounts you fully control the experience, and would be responsible for creating the additional External Accounts for the necessary Stripe accounts.
https://stripe.com/docs/connect/payouts-bank-accounts?bank-account-collection-integration=direct-api&platform=web&bank-account-collection-method=manual-entry#managing-multiple-bank-and-debit-accounts
If using this approach, and you want to explicitly control where payouts are sent, then you'll need to switch to using manual payouts:
https://stripe.com/docs/connect/manual-payouts

Express Dashboard

Learn about the features of the Express Dashboard.

Using manual payouts

Send manual payouts to your connected accounts.

Managing bank accounts and debit cards

Learn how to manage bank accounts and debit cards on your Custom connected accounts.

rotund summit
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Ok, so we ahve a custom connect apparently

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and we do add their accounts from the platform

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so bascially this is all possible, but the manual pauyouts is the last step

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BUT, I dont get why?

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as it said in that paragraph it did it automatically?

fiery shell
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I'm not following. What are you referring to as happening automatically?

rotund summit
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as in I thought when I send a payment to stripe, it worked out that I had three accounts, chose the right one if it could and the default if it couldnt

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I dont have to make the choice 'manaully'

fiery shell
rotund summit
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For example, consider a Stripe user in the United Kingdom who has added both GBP and USD bank accounts, with GBP selected as the default settlement currency. USD payments (where USD is the presentment currency) are **automatically **paid out to the USD bank account without conversion, whereas payments in all other currencies are converted into GBP.

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This is exactly what we are looking for

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the right one logic is IF payment is in USD and IF countexists (USD) then pay USD, else pay default

fiery shell
# rotund summit For example, consider a Stripe user in the United Kingdom who has added both GBP...

As shown in the table previously shared:
https://stripe.com/docs/payouts#supported-accounts-and-settlement-currencies

GB-based accounts are only able to settle funds in GBP or EUR by default.

In order for accounts in those countries to pay out in USD, they will need to leverage alternative currencies (which incurs additional fees):
https://stripe.com/docs/payouts/alternative-currencies

Alternative currencies

Learn how to pay out in currencies other than your primary currency.

Receiving payouts

Set up your bank account to receive payouts.

rotund summit
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Ok , thanks for your help