#melawong

1 messages · Page 1 of 1 (latest)

naive plinthBOT
stiff karma
covert bramble
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Ok so sounds like I should be doing a payout instead of a transfer. Thank you!

stiff karma
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I think so, they're two different steps. Transfers represent moving money from one Stripe account to another, whereas Payouts represent funds moving from a Stripe account's balance to their associated bank account.

covert bramble
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Ohh so can I clarify one thing. If I needed to move money from our platform balance into a user account, I can only do that with a trasnfer. From there, the user would request an instant payout to the bank. There's no way for me to move money from our balance directly/instantly into a connected user'

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s associated bank account

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I think we were under the impression that we could "pay out" our users instantly from our company platform balance.

stiff karma
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That's right. You move funds from your Platform's balance to the balance of the Connected Account. Then, depending on the type of Connected Account and how Payouts are configured/triggered, a Payout occurs to move the funds from the account balance to the External Account.

covert bramble
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Ok thank you. Do you know how long the trasnfers take? Are they instant or is there a waiting time?
Basically trying to figure out, could I do a transfer and then immediately do a payout?

stiff karma
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Transfers are immediate, as they're only moving funds around within Stripe. If funds are not available when you attempt to create a Transfer, then the request to create it will fail.

covert bramble
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Ah ok thank you!

stiff karma
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Any time!

covert bramble
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Ok sorry last question -- I tried to set that up and I'm getting this error: Request req_n01w2PdBJfJhmZ: instant is not a supported method for payouts to a bank_account external account.

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Is it because I need to contact Stripe to get early access to this feature? I saw something about that in the docs.

stiff karma
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I believe it's because Instant Payouts are largely restricted to only being available for debit cards, I don't think they work with bank accounts.

covert bramble
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And last question I swear -- if you're doing a regular manual payout, do you know how long it takes for that money to actually hit the user's bank account? Does it just vary?

stiff karma
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That I don't know. If anyone in Stripe has a definitive answer to that, it would be our Support team:
https://support.stripe.com/?contact=true
but I suspect it varies depending on the bank that is receiving the funds

naive plinthBOT