#paul-payen-cobbleweb-ltd_api

1 messages · Page 1 of 1 (latest)

tiny archBOT
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mint trenchBOT
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agile pendant
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đź‘‹ happy to help

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what do you mean by open a currency?

knotty briar
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Hello

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Nice to see you around; Thanks you for picking the question up

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As you can see I already had a discussion with Toby last friday;

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But it did not solve my issue.

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I need some help to understand what happens when I add a settlement currency for a connected account;

agile pendant
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yes there are features that exist in the dashboard that we don't have counterparts in the API

knotty briar
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are you sure ?

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There is no way to add a Settlement currency to a connected account ?

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with the API, I mean

agile pendant
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yes

knotty briar
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For instance,

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If I set a default currency to my connected account to USD, this will create a balance in USD right ?

agile pendant
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you're mixing two concepts here

knotty briar
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tell me

agile pendant
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sorry my browser decided to restart without any notice

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so basically you have 2 currency concepts:

  • settlement currency (this is for customers)
  • payouts currency (this is for connected accounts)
knotty briar
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ok I see

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BUt here in my SELLER view

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I can see I have a settlement currency

agile pendant
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I think this should be called Payout Currencies and not Settlement currencies

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otherwise it's confusing

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oh actually

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now we use presentment currencies instead of settlement currencies for customers

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my bad

knotty briar
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I see, thanks

agile pendant
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so if you want a settlement/payout currency you just need to add a bank account

knotty briar
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hum

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with the dashboard, i can add a new one without adding any bank account to my connected account;

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I want to be able to open the settlement currency before my connected Account user adds his bank account;

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WHY ?

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because otherwise we have conversion everytime

agile pendant
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I do understand

knotty briar
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Let me past a screenshot

agile pendant
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but in the API that's what's available

tiny archBOT
knotty briar
tiny archBOT
knotty briar
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When a payment is done to a connected account, Stripe is converting to the default currency of my connected account.

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what I want to do is that , if a payment arrive in ÂŁ , then I will open a settlment currency for this connected account in ÂŁ

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Thus Stripe would not convert to €

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In this case , the connected account has a balance only € , that's why it has been converted;

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Hi @tough mica !

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Nice to see you

tough mica
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đź‘‹ !

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Taking over for my colleague. Let me catch up.

knotty briar
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ok thanks Os

tough mica
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what I want to do is that , if a payment arrive in ÂŁ , then I will open a settlment currency for this connected account in ÂŁ
Hvae you tried to open a ÂŁ balance on that account ?

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Or you want it to be opened automatically once a payment with a different currency occures ?

knotty briar
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I tried to open the balance with the dashboard

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It works well

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But I want to do it via API

knotty briar
tough mica
knotty briar
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My user has not provided an account yet

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I do not want them to add an account

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I can add a temp account for them and remove it immediately?

tough mica
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How are you going to use Stripe Connect without allowing your user to create an Connect Account ?

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Sorry I didn't understand your latest follow upi question

knotty briar
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You asked me to add a bank account for my connected account.

tough mica
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Yes for the new currency

knotty briar
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But not alll user has already a bank account as this point in the user flow

tough mica
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You want just to add a Settlement currency without adding a bank account for payout ?

knotty briar
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Yes exactly

tough mica
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Unfortunately there is no direct API for that. You can do that only from your Stripe dashboard

knotty briar
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No workaround ?

tough mica
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The workaround is to collect and attach a bank account, however you don't want that.

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So I'm afraid that's not possible.

knotty briar
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Wouldn’t be possible to add a temporary bank accounts? And removed it immediately after ?

tough mica
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In live mode you need to have valid bank account details to do so.

knotty briar
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Yes a real one I mean

tough mica
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Only the user can provide you with a valid bank account, so if you don't want to collect it you can't add a temporary bank account

knotty briar
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The customer pays in a currency that he decides, the seller cannot add bank accounts in all currency

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I see the process

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But a shame that we can do that with the dashboard but we cannot with API

tough mica
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Even using the dashboard, you'll end by adding a balance in all currencies for all connected account at some point

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I think that's a design leak in your integration, you probably need to allow using currency conversion

knotty briar
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"Even using the dashboard, you'll end by adding a balance in all currencies for all connected account at some point" ---> that's why I need an API, I do not want to use the dashboard for all our sellers;

tough mica
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Even with the API at some points you will end up by adding all currency to all connected Accounts

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Regardless of how you'll add a new currency, if you don't want currency conversion, then you need to have all currencies on all connected accounts

knotty briar
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we handle only 3 curencies in Fanpass;

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we want to add a currency to our seller, only if they will reveive a payment in this currency

tough mica
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Today you handle 3 currencies but you may want to expand in the future

knotty briar
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thus, just before we do a transfer, we want to add a balance in the currency of the payment intent

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this way, there will never be any conversion like this

image.png
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Our point is to avoid this conversion

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Is there an option to avoid this currency exchange ?

crude osprey
knotty briar
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hi @crude osprey

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THanks for your message.

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How to ensure the "destination account having a GBP settlement account" ?

crude osprey
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Not every country supports GBP settlement

knotty briar
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I thikn there is a misunderstanding.

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I just want to ensrure that the destination account has the GBP balance opened;

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In my example, this account did not have the balance opened ;

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Then, a conversion was done.

crude osprey
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I understand that, but you can't ensure that

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The account country needs to be able to settle in GBP and not every country can do that. My guess is the account in the example is European, hence the EUR settlement

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And GBP isn't an option

knotty briar
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In my example the account is based in UK

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I do not really care about the country

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I see what you mean about macthing country & currency

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What I want to do to avoid the conversion

crude osprey
knotty briar
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sure

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tr_3P8kV8J0UsfrO2GP0dggYRKt

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AS you can see the amount was converted in €

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THis was because at this moment, this account did not have GBP as a stellement curency

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Then , on FRiday , I added 2 currencies : GBP & USD

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Then I did a payment in Pound; of 1ÂŁ GBP

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This NEW transfer was done without conversion : tr_3P9RmxJ0UsfrO2GP13u7sOOE

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THis is the behavior we are looking for

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Unfortunately , I cannot add settement currency manually VIA the DASHboard before every transfers to my sellers;

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So we want to automate that.

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Do you have some ideas ?

crude osprey
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Ok, so ES platform doing GBP destination charges. As explained here:

When processing destination charges without on_behalf_of, Stripe first converts them from the presentment currency to the platform’s default currency. The funds sent to the connected account are then converted to the connected account’s default currency.

  • If an application_fee_amount is used, the application fee is collected after the conversion to the connected account’s default currency. The fee remains in that currency when added to the platform.
  • If transfer_data[amount] is used, the fee is collected after the first currency conversion and remains in the platform’s default currency.
    https://docs.stripe.com/connect/currencies#destination-charges-without-on-behalf-of
Working with multiple currencies

Support processing charges in multiple currencies with Connect.

knotty briar
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do you mean that we need to use on-behalf-of ?

crude osprey
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I don't really understand what your expectation is here. You're doing GBP presentment on an ES account and yet expect it to settle GBP despite that not being supported?

knotty briar
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it is supported

crude osprey
knotty briar
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the connected account is based in UK

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acct_1M5AWHQxLLFhhS3G

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also , why the second transfer "tr_3P9RmxJ0UsfrO2GP13u7sOOE" has been done without conversion ?

crude osprey
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Hence why it settles in EUR

knotty briar
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Is there a way to do a call ?

crude osprey
crude osprey
knotty briar
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Sorry I don't get you.

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I will reexplain :
I have a connected account based in UK with default currency in €
1/ Then I receive a payment intent with presentment = GBP; the transfer has a currency conversion ; see tr_3P8kV8J0UsfrO2GP0dggYRKt
2/ Then I connected to the dashboard as a connected account user, I added a setttement currencfy in GBP.
3/ Then I receive a payment intent with presentment = GBP; the transfer has NO MORE a conversion ; see tr_3P9RmxJ0UsfrO2GP13u7sOOE

How can I automate the "2/" with API ?

crude osprey
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You onboard the account with GBP bank account initially and not a EUR account

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The default currency is what determines the settlement as per the link I sent:

When processing destination charges without on_behalf_of, Stripe first converts them from the presentment currency to the platform’s default currency. The funds sent to the connected account are then converted to the connected account’s default currency.

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So that is why the transfer amount is converted from GBP to EUR

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The settlement is determined by the default payout currency/bank on the account

knotty briar
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Did you answer my question ?

crude osprey
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Pretty sure I did yes

knotty briar
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Sorry I Cannot see the answer

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I think you are proposing alternative scenario where my connected account user has to provide bank accounts. Then you explain why there is a conversion; we know why already. The lb you explain me about custome connected accounts… we are using these accounts since 6 years. We know what it is. The question / is not about bank accounts.

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Are you sure you did answer the ques?

fluid merlin
knotty briar
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Hi @fluid merlin

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I am not saying that the behaviour changed.

fluid merlin
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I see, I think what ynnoj said answers your question. You would need to add a bank account in whichever currency you want to see on the connected account.. this case, it would be GBP.