#anjan_api
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- anjan_api, 23 minutes ago, 2 messages
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glacial olive
Hello
Intended use of Stripe APIs is to accept payments from end users. Technically it might be possible to move funds between two bank accounts using Stripe however what you'd want to consider is the fees Stripe would add on top of what your bank would normally charge for wire transfers.
I don't know much about your usecase but if its more than just transferring funds between two bank accounts then I think you'd use Treasury APIs: https://docs.stripe.com/treasury
twilit bolt
Thanks, the intention is to automate internal ACH payments. Today we manually create transfers, but the banking partners on either side of the transfer don't have API's that we can use to automate that. We'd like to have our backend service call an API to move funds between those accounts. Does Stripe have an offering to support this use case?
Or does Stripe Treasury support this?
glacial olive
Treasury can support this but your usecase is quite simple..
You could do something like
- Attach Bank Account A to platform account
- Attach Bank Account B to a connected account
- To move funds from A to B => Add funds to your platform balance & Create a transfer: https://docs.stripe.com/api/transfers/object
- To move funds from B to A => Use Account debits: https://docs.stripe.com/connect/account-debits
However like I mentioned earlier, Stripe APIs are mostly geared towards payins and payouts. They aren't meant to be used for transfer between your accounts as far as I know
twilit bolt
What's the difference between a Platform Account and a Connected account?
glacial olive
Oh since you mentioned you've already attempted Stripe Connect in your original message, I assumed you'd be familiar with the concepts.
A platform is a stripe account that provides a platform that other "connected" stripe accounts can utilize. For example; "Uber" is a platform then the drivers are considered "connected accounts"
twilit bolt
Ok thanks, I'll see if this can work for us.
Is it then accurate to say that there is no Stripe API that natively enables something like this: https://developers.dwolla.com/docs/balance/transfer-money-me-to-me
glacial olive
Correct, our APIs are mostly geared towards payins and payouts (not necessarily transferring funds between your own accounts)