#john_api

1 messages · Page 1 of 1 (latest)

formal larkBOT
#

👋 Welcome to your new thread!

⏲️ We'll be here soon! Typically we respond in a few minutes, but sometimes we might take a bit longer if the server is busy or if you have a particularly tricky question.

⏱️ We close idle threads, which makes them read-only. Once a thread is closed it won't be reopened, but you can always start a new thread if you have another question.

🔗 This thread will always be available, even after it's closed. You can find it again using Discord's search, or you can save this link: https://discord.com/channels/841573134531821608/1457904796269940858

📝 Have more to share? Add more details, code, screenshots, videos, etc. below.

Below are links to other discussions we've had with you in the past week in case you want to review that information. If your question is related to one of these previous discussions, please provide a comprehensive summary of the current state and what you need help with now. We help many users simultaneously, so a summary allows us to resolve your issue as soon as possible.

limpid vale
#

Hi! Looking into your query!

#

are Global Payouts available for domestic funds payouts?
Yes it is: https://docs.stripe.com/global-payouts/recipient-creation-options#requirements

I want a alternative solution to Stripe Connect accounts where some of the vendors do not want to create a Connect account stripe. Those vendors provide us with their bank details and want us to transfer the funds via wire transfer (or ACH). Is Stripe Treasury a solution for such a scenario? Can you provide details?
Based on your use case, Global Payouts would be the way to go. You will need to create a recipient to whom you can transfer funds to: https://docs.stripe.com/global-payouts/recipient-creation-options

languid spoke
#

another question:

  1. For Global Payouts - we need to first create a Financial Account, right? Can we have more than 1 Financial Accounts?
limpid vale
#

It depends on how you wish to fund your Storage Balance. There are 2 ways to do it:

For the 2nd option you will need to add a bank account to add a verified bank account which can be verified either via Financial Connections or micro-deposits.

And you can add more than 1 bank account.

languid spoke
#

Storage Balance is specific to Financial Account? Can funds from Platform Account be pulled into the Storage balance?

limpid vale
languid spoke
#

also, to wire transfer to external vendor's account, do we need go thru KYC or Identity verification?

limpid vale
#

yes, I want to understand what exactly is Financial Account?
The storage balance is a Financial Account. There are more details about what a Financial Account is here: https://docs.stripe.com/financial-accounts Let me know if you have any specific questions about it here.

also, to wire transfer to external vendor's account, do we need go thru KYC or Identity verification?
It depends. When you enable Global Payouts, you might be prompted to provide additional information (https://docs.stripe.com/global-payouts/get-started#activate-and-configure-your-account)

languid spoke
#

Is it possible to receive funds into the Storage Balance wired from external bank account ?

limpid vale
languid spoke
#

the funds from Storage Balance can be wired to a bank account. Is there a compliance requirement to know who the funds are transferred to?

#

in terms of KYC

limpid vale
#

Is there a compliance requirement to know who the funds are transferred to?
We mainly help with developers who want to integrate directly with the Stripe API here on this channel. Regarding compliance / KYC, I would recommend reaching out to Stripe Support (https://support.stripe.com/contact).

languid spoke
#

thank you, @limpid vale

formal larkBOT
#

⛔️ Stripe developers have stepped away for a short while

Please leave your questions here, and we’ll respond as soon as we're back! If you need help urgently, you can contact Stripe support for help.