#anji_docs
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granite phoenix
hi there, i just want to acknowledge your question. I'm working on another thread and will get to yours soon
Hi there, thank you for waiting. Can I confirm the Stripe account is in Australia, and will be creating subscriptions in USD. Will the customers be from US?
rustic scaffold
Hello,
Yes the stripe account is Australia.
We already have an existing subscription with a USD currency.
Customers can be possibly in any region/country.
granite phoenix
I see, thanks for clarifying. Bank Transfers is not available to Stripe accounts based in Australia: https://docs.stripe.com/payments/bank-transfers
To enable USD Bank Transfer, the merchant must be in US.
rustic scaffold
So since, our merchant is in Australia the only supported bank transfer payment is in AUD? And will we also have to edit the currency of the subscription in stripe to AUD as well?
granite phoenix
No, Bank Transfers as a payment method is not supported for Stripe accounts in Australia
rustic scaffold
So the only option is to move the merchant location to US in order to support bank transfers?
granite phoenix
Yes, your business has to be registered in US to onboard a Stripe account based in US. Otherwise, please consider other payment methods available to Stripe accounts based in Australia.
rustic scaffold
Another question is, assuming that we already handled the merchant location to US and has a USD subscription in Stripe. What if the user has their local currency aside from the supported currencies for Bank Transfer. Will there be like a currency conversion that will happen?
granite phoenix
I'm not sure I understand. What do you mean by "has their local currency aside"?
rustic scaffold
Sorry for the grammar,
Assuming the consumer is Philippine Peso and they tried subscribing to the merchant's USD subscription.
granite phoenix
Right, Bank Transfers in this scenario, will only accept USD
so the currency conversion must happen before the customer sents the amount
assuming the business is based in US
rustic scaffold
So the user must have first USD funds in their bank before sending thr amount?
Is wire transfer not available in this case?
granite phoenix
The docs does specify that when accepting bank transfers with Stripe, your customers will be provided with a virtual bank account number that they can push money to from their own online bank interface or in-person bank branch: https://docs.stripe.com/payments/bank-transfers#:~:text=When accepting bank transfers with Stripe%2C you provide customers with a virtual bank account number that they can push money to from their own online bank interface or in-person bank branch.
For international payments, you'd want to refer to this section: https://docs.stripe.com/payments/bank-transfers#international-payments
rustic scaffold
I see, thanks for this, I might ask again in a later time for additional questions of that's okay
granite phoenix
all good, we do close idle threads, but you can always open a new one 👍