#antoinestep-currency-conversion
zenith yarrow
Hi! Let me help you with this.
I am not sure that's possible. How are you creating payments at the moment?
brisk cypress
i am creating a subscription, and using the payment intent created within it
zenith yarrow
Could you please share a Subscription ID/PaymentIntent ID?
zenith yarrow
Did you create the settlement balances yourself?
brisk cypress
what do you mean?
zenith yarrow
i ended up having multiple balances in multiple currencies
How does it look on your dashboard right now? Ideally, if you don't have a specific currency set up on your account, charges in this currency will be converted to your account's main currency.
tacit rover
antoinestep-currency-conversion
brisk cypress
currently when i go to the balances page
i see different amounts in different currencies as boxes on the top
tacit rover
Hi there 👋 jumping in as my teammate needed to step away. Which of those currencies are you not expecting to see?
brisk cypress
i would only like to see GBP EUR and USD if possible
is this configurable?
can i make the conversion at the moment of the payment?
tacit rover
No, you'll need to figure out what part of your integration is resulting in those other currencies landing in your account, and change it if you'd like to avoid this.
Do you have any suspicion of where they could be coming from?
brisk cypress
my current flow is that i create a customer which will subscribe to a product that i created in a specific price/currency
the payment happens through a pyament link
tacit rover
Alright, that won't result in different currencies landing on your account, those funds would be converted to your expected settlement currency.
tacit rover
Are you using Connect?
brisk cypress
no,
i'm creating the subscription in the BE, then sending the payment link to the FE which is using the Stripe IOS SDK to display the payment sheet
tacit rover
You have Connected Accounts associated with the account that owns the Subscription which you provided an ID for, it does look like Stripe Connect is part of your integration.
brisk cypress
i do have connected accounts yes
i am using on_behalf_of and transfer_amount when creating the subscription
tacit rover
Gotcha, I believe that on_behalf_of is where this is coming from. Using that causes funds to settle in the settlement currency of the Connected Account instead of the settlement currency for your Platform account:
https://stripe.com/docs/connect/destination-charges#:~:text=Charges are settled in the connected account’s country and settlement currency.
brisk cypress
oh alright and can i limit the settlement currencies of my connected accoutns?
tacit rover
Ah, this is a better section that talks about that in more detail:
https://stripe.com/docs/connect/currencies#application-fees-for-destination-charges-and-converting-balances
No, settlement currencies are based on the country of the Connected Account, you cannot control those.
brisk cypress
alright i will havea. aread through those links
but
is there anyone i can contact to validate the flow i am using to make sure that i am using the best practices for my case?
tacit rover
What is your use case? You use on_behalf_of when you want the Conencted Account to be the merchant of record when using Destination Charges.
brisk cypress
yeah but i am not exactly sure that i need to use on_behalf_of maybe there is a better way to do it
tacit rover
To do what?
brisk cypress
We are developing some sort of content sharing app and to see the content of some profiles (let's call those Guides) a normal user (Subscriber) would need to pay a subscription and we need to take a percentage of that while covering ALL Stripe fees, meaning that at the end the Guide will receive a net 70% of the subscription's price.
We are based in the UK but the app needs to operate in different countries, the Guides and the Subscribers can be anywhere, they can reside in the same country or not.
To achieve this goal we are:
. Creating an express connected accounts for the Guides
. Creating a product(representing each guide) on our main stripe account
. Using charges with 'transfer_data' and 'on_behalf_of'; we create a customer -> create a subscription to the product that represents the guide on the main account -> show the payment sheet to the customer -> completing the payment. this way after the payment is successful we are sending the desired percentage to the connected account which would be his net share.
this is an overvue of our process
do you think we are using the best practice?
tacit rover
The big question here, is whether you want your customers (the Subscribers) to feel like they're interacting directly with the Connected Accounts (the Guides) or with you the Platform.
If you want to them to feel like they're interacting with the Platform, then Express Accounts and Designation Charges is the right path.
If you want them to feel like they're interacting with the Guides, then Standard Accounts and Direct Charges would be a better fit.
brisk cypress
but in the case of direct charges the guide will be paying the fees, right?
tacit rover
Ah, good point, yes.
brisk cypress
so the implementation i am using is the best fitting?
tacit rover
It sounds like it very well may be. The only part that is still questionable is the use of on_behalf_of, but if you want the Guides to be the merchant-of-record then you should be using that.
rocky karmaBOT
tacit rover
So if that is the best shape for your business model, you'll want to add code to trigger payouts for the balances that you accrue in those other currencies. A code snippet showing that is in the document I linked above.
When you trigger those Payouts the funds will be converted from the currency they're currently in to match your default bank account's currency.
brisk cypress
alright and what would be an alternative to using on_behalf_of in my business model?