#isaac_best-practices

1 messages ¡ Page 1 of 1 (latest)

stray wharfBOT
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glad drift
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Hello, I'm not 100% sure I understand your question. Can you tell me a bit more about why you want to use plaid to collect these bank accounts here? Typically we'd just recommend the Stripe hosted onboarding which can collect bank account details along with the initial onboarding info. Connected accounts are intended to be able to represent an individual that isn't a merchant (ex: Lyft drivers) so you may not need a special process here

humble kelp
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Plaid was chosen as our vendor for IDV/AML and they integrate that service with Bank account linking to ensure the verified user is the owner of the account.

The goal is to use Stripe's checkout as a way to collect tips

stray wharfBOT
humble kelp
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I'm currently trying to work out the process to take that tip money and get it to the correct user's bank account

glad drift
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Gotcha, we have three flows for that. For platforms like yours you will typically do "destination charges" or "separate charges and transfers", which is where you create payment objects on your platform account and then funds are transferred down to the connected accounts after they have succeeded
https://docs.stripe.com/connect/design-an-integration#accept-a-payment

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Destination charges are good if you know how much you want to send to the connected account before the payment is made, they automate creating the transfer of finds. SC&C is good if you need to run some logic on your side to decide the amount after the payment is made because your platform creates the transfers itself

humble kelp
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Okay. 2 follow-up questions:

  1. With the either of these, the connected account documentation said I needed things like mcc, url, and statement_descriptor How would I configure these fields for our users?
  2. Can I use either destination charges or separate charges if we're going to handle transaction fees behind the scenes or does that need to be separate charges only?
glad drift
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the connected account documentation said I needed things like mcc, url, and statement_descriptor
Can you link to the docs you are referring to here? Want to make sure I understand the full context here.

humble kelp
glad drift
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Can I use either destination charges or separate charges if we're going to handle transaction fees behind the scenes or does that need to be separate charges only?
Either could work depending on the context. Destination charges is just a more automated version of separate charges and transfers. Basically, with destination charges, you specify a transfer_amount upfront and can update it until the payment actually happens, but then once that payment happens the transfer is created. So if you don't know exactly how much you want to send until after the payment is made then yes SC&T will be best there, otherwise either could work

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Thanks for the link, you can set those directly when creating your connected accounts if you already know them. Then you can do our onboarding or your own to collect the rest. Also one thing to note on the url is that you can just provide a product description instead if that makes more sense for your situation

humble kelp
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Is there a list of merchant codes somewhere that I could review? The goal is the do the onboarding programatically to minimize the number of systems our users have to go through

glad drift
humble kelp
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Great thank you.
If any other questions arise, should I post them in this thread or should I create a new one?

glad drift
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We typically close out threads after ~15 mins of inactivity, so after this thread closes you can create a new one