#tadeo_conenct-financial-connections
stark quiverBOT
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echo kite
Hi, is your end goal to be able to add mutiple bank accounts per Connected Account?
rough turret
That would be suitable, but the end goal is to have each payment go to the corresponding bank account.
echo kite
You can add multiple bank accounts to a Connected Account, with the caveat that it's one account per currency: https://docs.stripe.com/connect/payouts-bank-accounts?bank-account-collection-integration=direct-api&bank-account-collection-method=manual-entry#managing-multiple-bank-and-debit-accounts
As for wanting to create a Connected Account per individual bank accounts, they would need to onboard again.
We also have https://docs.stripe.com/connect/networked-onboarding that helps onboarding for Connected Account users who already have a Stripe account by sharing business information.
rough turret
Thanks for the info, this last link you provided isn't active.
echo kite
Sorry, can you try now?
rough turret
Yes it works, thanks
echo kite
Sure
rough turret
Is this the most viable option for my business operation to work with stripe?
stark quiverBOT
echo kite
If they are located in the US, you could use https://docs.stripe.com/connect/payouts-bank-accounts#collecting-external-accounts that does allow adding multiple bank accounts with Financial Connections so you might want to look there
rough turret
Can you clarify for me - Does the financial connection replace the connected account or is that in addition to the connected account?
novel spire
Hi 👋
I'm stepping in as my colleague needs to go
The Financial Connection is Stripe's newer method of providing connections to bank accounts. It does not replace or create new connected accounts
rough turret
So for example in my case that I detailed above, instead of creating a connected account per building/bank account combination. I would instead create a 'financial connection' per each of those combinations?
novel spire
In my opinion, I think it would make the most sense for each of the property managers working with your platform to have their own Connected Account with a saved bank account.
waxen pier
Each property manager has on average around 20 bank accounts they want to receive payments into. How would you recommend we set up in that case?
novel spire
The doc my colleague shared (https://docs.stripe.com/connect/payouts-bank-accounts#managing-multiple-bank-and-debit-accounts) discusses how you can save multiple bank accounts to a single Connected Account.
However, with a large number of bank accounts, that might be complex/difficult to manage. I recommend you build this as a simulation within a Sandbox account and test out how well it works end-to-end.
waxen pier
the link you shared says there is a limit of 5 accouns per currency, so 20 would be over that limit. In that case would we need to create 4 connected accounts, each with 5 linked accounts for this 1 property management customer?
novel spire
Correct.