molina-balance | Stripe Developers | Page 1

burnt falcon Oct 4, 2021, 10:17 AM

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I'm checking

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Captura_de_pantalla_2021-10-04_a_las_12.21.33.png

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Ok, thats the correct one.

mortal gazelle Oct 4, 2021, 10:22 AM

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yep! So, all good, are you unblocked?

burnt falcon Oct 4, 2021, 10:22 AM

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Not really, so, the problem is that the payout is on EUR instead of GBP

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right?

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Payouts can not convert automatically between currencies?

mortal gazelle Oct 4, 2021, 10:24 AM

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well it's a Stripe account in the UK and they have a GBP bank account

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so naturally they accumulate a balance in GBP and get paid out in GBP!

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the way it works is incoming payments in other currencies get converted to the 'settlement' currency of the account at the time of the payment

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https://stripe.com/docs/currencies explains it in detail

burnt falcon Oct 4, 2021, 10:27 AM

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Understood, so the payments is converted to account currency, but the payouts must be done in the bank account currency? Am I right?

mortal gazelle Oct 4, 2021, 10:30 AM

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well it's the same currency

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https://stripe.com/docs/payouts#supported-accounts-and-settlement-currencies

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a UK account can settle to these currencies, as in they can add bank accounts in all those currencies

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if they had a EUR bank account and an incoming payment was in EUR, then they could accumulate and pay out a EUR balance directly to that bank account

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here though, they don't, they only have a GBP bank account attached to their Stripe account(which is why you see they only have a GBP balance)

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so any payments that are not in GBP, get converted to GBP and can be paid out to that bank account

burnt falcon Oct 4, 2021, 10:33 AM

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yeah but, but this doesn't work for this payout request?

mortal gazelle Oct 4, 2021, 10:33 AM

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not sure what you mean.

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creating a payout is saying, "this account has this balance(the one you posted in that API response) and I want to pay it out"

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you can't payout money in a currency the Stripe account's balance doesn't have

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and you can't send EUR to a GBP bank account

burnt falcon Oct 4, 2021, 10:35 AM

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Yeah, I understand this

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but, the solution is just add and bank account in eur?

mortal gazelle Oct 4, 2021, 10:36 AM

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well I would have said the solution is to change your payout API request to pass currency:GBP instead of EUR, right?

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why are you trying to pay out EUR in the first place, when it's a UK Stripe account with a GBP bank account? EUR isn't involved (unless you know this business and they have a EURO bank account for their business and they want to use that, which can make sense, if you have a business that charges customers in EUR a lot it would help to add a EUR bank account to your Stripe account so you can get paid out with out currency conversion)

burnt falcon Oct 4, 2021, 10:38 AM

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Was a Mirakl issue, the account on Mirakl was configured in EUR. Thats why the connector between mirakl <-> Stripe is trying this payout with EUR

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All is clear now, thank you very much

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I don't understand one thing, the seller can configure the bank account in other currency? If they change the currency of the bank account the problem will be solved?

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Or just add and settlement currency on this account?

mortal gazelle Oct 4, 2021, 10:57 AM

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no you can't change the currency of the bank account, it's not a configuration

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your bank gives you a bank account in a given currency

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if you want to get EUR without conversion, you ask your bank for a euro-denominated bank account and they give you an IBAN and you can add that to your Stripe account

burnt falcon Oct 4, 2021, 10:59 AM

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So, its not possible that the payout makes an automatic conversión from EURO to GBP and do the payout to the bank? Thats is not possible?

mortal gazelle Oct 4, 2021, 11:06 AM

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well no, as I said creating a payout is saying, "this account has this balance(the one you posted in that API response) and I want to pay it out"

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if there's no EUR balance you can't pay it out , so I don't really understand what your question means

burnt falcon Oct 4, 2021, 11:12 AM

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The question is if its possible to do the payout (configuring the account or whatever) in other currency doing automatically the conversion. For example in this case EUR (payout) to GBP (bank account) , can Stripe doing the conversion to bank account currency? thats the main question

mortal gazelle Oct 4, 2021, 11:13 AM

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I don't think the question makes sense

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the correct way to think about it is that the Stripe account in question has balances in certain currencies and you want to pay them out

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what you're saying is "I want to payout 100 Euro , so I want to pass that to Stripe and have it do a payout for 85.56GBP (today's conversion rate)"?

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but then what if the account doesn't have that many pounds in its balance? it will fail

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so overall I think you're approaching this the wrong way which is why I've been trying to explain how balances and conversions work in Stripe.

burnt falcon Oct 4, 2021, 11:18 AM

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So the answer to my question is NO. So, the solution is just Add an account in EUR or change the api call to GBP, right? Sorry for the missunderstood :/

mortal gazelle Oct 4, 2021, 11:22 AM

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yes

burnt falcon Oct 4, 2021, 11:28 AM

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This was a conversation with Wayne, one Engineer that says that i said its possible. Wayne is on vacation now, thats why open this chat.

Captura_de_pantalla_2021-10-04_a_las_13.27.45.png

mortal gazelle Oct 4, 2021, 12:43 PM

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that's a transfer, not a payout, so it's slightly different

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and it's really identical to what I said earlier :

the way it works is incoming payments in other currencies get converted to the 'settlement' currency of the account at the time of the payment

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but here the "payment" is actually your platform transferring money from itself to the connected account, rather than an actual end-customer payment.

burnt falcon Oct 4, 2021, 1:00 PM

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Ok! Thank you for all

#molina-balance