bankorh.hitpay

[quiet solstice]

No, it doesn't apply to transfers

[torpid cradle]

So if we use destination charge + application fee, whatever goes into the custom account, can be paid out immediately?

[quiet solstice]

No

It will be only transferred to connected account when the funds becomes available

[torpid cradle]

Hmm... I am still a bit confuse, let me elaborate a little bit more. Let's say here's what we submit to create payment intent, so it is a destination charge + application fee.

'currency' => 'sgd',
'amount' => 100000,
'on_behalf_of' => 'acct_xxx',
'transfer_data' => [
    'destination' => 'acct_xxx',
],
'application_fee_amount' => 10000,

A customer paid today, and we confirm the payment, the custom account will get $1,000 and then we take the application fee $100. And the custom account will have $900 in their balance for payout.

If we set 7 days delay to this custom account, when are they going to get this $900 paid to their bank account?

[quiet solstice]

The $900 dollars will not be immediately availbale for payouts (see https://stripe.com/docs/payouts#payout-speed)

When the funds are availble for payout, it would hold 7 days before a payout is created to move funds to the account's external account.

[torpid cradle]

So which means if we set the payout interval for daily, and 14 days delay. When today is the first day they collecting charge, they will get their first payout (the charges for today) after 14 days, and they can see the balance immediately in the balance.

Am I right?

[torpid cradle]

Yes, we aware of this, the docs specifying 7 days for Singapore, but we also have custom default minimum which I think T+1.

[quiet solstice]

Ok then it'll be 7+7 = 14 days to include the funds collected by that payment in payout.

[torpid cradle]

Okay, thank you so much, we are so worry that the delay will not apply to destination charge, luckily it is. 😅

[quiet solstice]

You can always test it out in test mode.

[torpid cradle]

Yea, true. Let me tell the team to do this next. Thank you very much for your time