#kamil1999_api

1 messages ¡ Page 1 of 1 (latest)

polar crowBOT
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patent peak
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Hi there

covert basalt
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Hi

patent peak
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Are you familiar with "presentment" vs "settlement" currencies?

covert basalt
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No, but will check what this mean

patent peak
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Okay. The presentment currency is the currency of the charge. The settlement currency is the currency accepted by a bank

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So, let's say you create a Checkout Session to charge a customer in US Dollars and those funds are moved to the connected account's balance. If that connected account as an external bank account that has a settlement currency in EUR, the US Dollars will be converted to EUR when those funds are paid out

covert basalt
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So, I should have a list of available currencies for the user's Stripe onboarding bank account because the payment can be in USD, but the user's bank account might not handle USD.

patent peak
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Up to you how you want to handle this. Say a connected account accrues a USD balance but their bank account can only settle in EUR. Stripe will convert the USD balance to EUR during payout

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If you don't want this conversion to happen then you can opt to only charge customers of this connected account in EUR

covert basalt
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Ok, so never will be case when user generated payment in currency that can not be converted to curreny that bank account handling

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because stripe wiil convert to accepted currency

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or not if i change it

patent peak
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Right, we'll convert the amount to the appropriate currency

covert basalt
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thank you for links and help, it helped me a lot

patent peak
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Sure thing!

covert basalt
patent peak
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transfer_data.destination is used to define where the funds should be transferred to for this particular PaymentIntent. on_behalf_of should be used if you want the connected account to also be used as the merchant of record. Omitting on_behalf_of makes your platform the merchant of record

covert basalt
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thank you!