#.oleg.d
tranquil token
👋
dim tinsel
I'm not sure I follow, would you mind elaborating your scenario?
tranquil token
Sure
Users: sender, receiver (with the connected account), platform (I'm)
Stripe fee will be ignored in this schema
- Sender pay $100 for receiver
- Platform grab 3% as the application fees (collect fees) from this amount it's $3
- Receiver revenue $97
Platform fees collect: - Platform receives $3
- Platform transfer $1 to the fees_account_1
- Platform transfer $2 to the fees_account_2
- Platform balance 0$
In the end of this. All collected fees from users transactions should be stored not in the platform account
@dim tinsel
dim tinsel
ok so when you say Platform transfer $1 to fees_account_1, is that a Stripe Connect Account as well?
tranquil token
Thats correct. The main idea to have separate accounts that will be hold fees that platform account collects from users transactions
dim tinsel
Thats correct. The main idea to have separate accounts that will be hold fees th...
may I ask what's the purpose?
tranquil token
may I ask what's the purpose?
The objective is to categorize and store collected funds based on their respective purposes, rather than aggregating them into a single account. For instance:
The first account (2%) will hold fees that the application earns as revenue.
The second account (1%) will be designated for fees that will be transferred to users to cover instant payout fees (1%).
In the future, a third account may be created for collecting taxes.
In summary, this approach ensures that funds are stored in separate accounts, each with its own specific purpose, rather than consolidating them into a single platform account.
dim tinsel
I can't really say wether this is a good idea or not, but in all cases, you need to keep some amount in the platform's balance to pay the Stripe fees
tranquil token
I can't really say wether this is a good idea or not, but in all cases, you need...
Are you referring to Stripe transaction fees? In accordance with the outlined structure, the receiver will receive slightly less than 97% of the total amount after covering these fees.
Could you please give a few points in which this schema would necessitate maintaining a balance in the platform account?
dim tinsel
Could you please give a few points in which this schema would necessitate mainta...
if you're covering the Stripe fees from the 97% then no need
tranquil token
if you're covering the Stripe fees from the 97% then no need
In this scenario, we shouldn't encounter any issues with these accounts. From what I understand, I will need to create, for instance, 2-3 Stripe Connect accounts, such as the Express type. These accounts won't be associated with individual users; instead, they will be linked to our platform. Additionally, we need to ensure their proper configuration, including attaching bank accounts for receiving funds and other necessary setups.
dim tinsel
that's correct
tranquil token
that's correct
Also, I wanna to clarify can I attach for instance same bank account for these accounts (that related to the platform account or some different)?
dim tinsel
yes each Stripe Account will have a bank account associated to it for payouts
tranquil token
Certainly, could you please provide clarification on these questions? Your assistance is greatly appreciated.
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This question pertains to the following scenario involving "bank_of_america_account_1." Can I link this "bank_of_america_account_1" to multiple Stripe accounts? Will Stripe review these accounts and potentially flag any unusual activity, like attaching the same bank account to multiple Stripe Connect accounts? This concern arises because these Stripe accounts will be connected to the Platform owner.
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Additionally, from my understanding, I will need to provide accurate user data, including SSN, bank account details, and other information, and all of this data should be associated with the Platform owner. This is crucial because the Platform owner will receive revenue and be responsible for tax collection on platform transactions.
wide dustBOT
heavy tendon
Hey! Taking over for my colleague. Let me catch up.
- This question pertains to the following scenario involving "bank_of_america_account_1." Can I link this "bank_of_america_account_1" to multiple Stripe accounts? Will Stripe review these accounts and potentially flag any unusual activity, like attaching the same bank account to multiple Stripe Connect accounts? This concern arises because these Stripe accounts will be connected to the Platform owner.
I'm not sure about this as this isn't a technical integration question, you should reach out to Stripe Support about this at https://support.stripe.com/contact
- Additionally, from my understanding, I will need to provide accurate user data, including SSN, bank account details, and other information, and all of this data should be associated with the Platform owner. This is crucial because the Platform owner will receive revenue and be responsible for tax collection on platform transactions.
I don't see a question here, could you elaborate ?