#deebomaster
fathom ruin
final thicket
I'd recommend looking into SC&T: https://stripe.com/docs/connect/separate-charges-and-transfers
You hold funds in your Stripe balance, then payout later on
little karma
Looking at this too: https://stripe.com/docs/connect/manual-payouts
Holding period in the US is up to 2 years. Can I just use that for US users?
And is this for the stripe express user account?
little karma
You hold funds in your Stripe balance, then payout later on
What's the best way to differentiate as an "escrow" type holding that is seperate from other amounts in our stripe account that should be paid out as profit to us?
final thicket
We don't really have the best context for that and can't advise on what is/isn't escrow, so you should seek counsel from someone more versed in those things if you are concerned you might be out of compliance in your particular use-case
little karma
Is there someone you could connect me with @final thicket ?
I'm not too worried about compliance, just basic business operations. I am leaning toward using manual payouts. Am I correct in thinking that I can specifcy a manual payout to a US user up to 2 years?
i.e. Guest books a place 6 months in advance, I specify the connected account for payout amount and set the schedule interval to the end of the stay (in 6 months)? So the money will litterally hold in their connected account and cannot be withdrawn until the interval has passed?
Would that allow me initiate a refund without additional fees?
final thicket
When it comes to what constitutes escrow, you can try checking in with our support folks, though it's likely that they'll tell you to seek legal counsel: https://support.stripe.com/contact
As for the other questions:
I'm not too worried about compliance, just basic business operations. I am leaning toward using manual payouts. Am I correct in thinking that I can specifcy a manual payout to a US user up to 2 years?
If you have funds in your balance, you can create a manual Transfer to a Connect account at any point. I'm not sure how long you're legally allowed to hold the funds though.
i.e. Guest books a place 6 months in advance, I specify the connected account for payout amount and set the schedule interval to the end of the stay (in 6 months)? So the money will litterally hold in their connected account and cannot be withdrawn until the interval has passed?
Would that allow me initiate a refund without additional fees?
You would have to build the scheduling system yourself, but that's acheivable. You would just make sure your Connect accouts are on manual payouts and then only pay out once they have reached their stay at the hotel.
little karma
Do I have control of users on my platform connect accounts to make them be manual payouts?
final thicket
As the platform: yes. Provided you're using Custom or Express Connect
little karma
Yep using Express currently. I guess a clarification to your answer:
- User pays 6 months prior to their stay
- I create a payment intent and payout transfer and set a manual interval for (calculated day 6 months in the future).
- Stripe will hold that amount in my platform account or in the user's connect accounts until that interval is met?
final thicket
What interval are you referring to?