monshery-conversion | Stripe Developers | Page 1

nova mist Dec 30, 2021, 2:16 PM

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https://stripe.com/docs/currencies/conversions

tight star Dec 30, 2021, 2:21 PM

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I am ready thing but its not so clear.

nova mist Dec 30, 2021, 2:22 PM

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What would you like clarification on?

tight star Dec 30, 2021, 2:23 PM

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Ok so let me describe a scenatio

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scenario

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Currently my system works in the following way:

creator create content,
consumer buys that content,
money goes into platform stripe account.
2 weeks later platform goes though all the transaction that was made for the creator and send his connected account payment minus fees.

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So far so good ?

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the issue is, to send him a payment, we check all the available transaction and they can be in different currencies.

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and the 1 big payment we send is in 1 currency.

nova mist Dec 30, 2021, 2:28 PM

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So in that case, the amount you transfer to them will be converted to the currency you specify when you transfer it

tight star Dec 30, 2021, 2:28 PM

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hmm ..

nova mist Dec 30, 2021, 2:29 PM

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Also keep in mind out cross border payout docs if you have not seen them https://stripe.com/docs/connect/cross-border-payouts

tight star Dec 30, 2021, 2:29 PM

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Ah wow you guys started supporting israel ?

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That's new.

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i think something doesnt add up

nova mist Dec 30, 2021, 2:30 PM

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What doesn't add up?

tight star Dec 30, 2021, 2:31 PM

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How can i calculate the total amount to transfer to them ?

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each transaction can be a different price/currency

nova mist Dec 30, 2021, 2:32 PM

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You may be taking payment in different currencies?

tight star Dec 30, 2021, 2:33 PM

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Say that the transfer need to be in USD, but the content creator received transactions with few different currencies

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Basically i iterated over all the transaction right now, and conver them manually to the transfer currency

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and then make a big transfer with the sum of all the transactions

nova mist Dec 30, 2021, 2:40 PM

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As I understand your scenario, because you are charging them as the platform rather than as the creator, the payments will be converted in to USD to go in to your bank account when the customer makes the payment.

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And then there will be a conversion when you transfer to your connected account

tight star Dec 30, 2021, 2:41 PM

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hmm i dont know if it event gets to the bank yet.

nova mist Dec 30, 2021, 2:42 PM

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Keep in mind that you can use on_behalf_of to charge as the creator (if it is appropriate) which can reduce the amount of conversion going on

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https://stripe.com/docs/connect/charges-transfers#on-behalf-of

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Sorry I misspoke a bit there

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It will get converted to USD for your platform balance

tight star Dec 30, 2021, 2:43 PM

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Ah wait

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so..

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whenever a charge is made and goes to my platform

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the account balance will increase in USD ?

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after its already converted ?

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You specify the presentment currency when creating a PaymentIntent or a charge. When a Stripe account receives payments in multiple currencies, Stripe accumulates separate balances for each currency. When those balances are paid out to an associated bank account (or debit card), Stripe automatically sends funds to the associated account for each currency, thereby avoiding exchange fees.

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Still alive ?

nova mist Dec 30, 2021, 3:01 PM

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Yes I am, getting busy elsewhere

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I think you are right, looks like I misread the docs there that you can have balances on multiple currencies in your platform

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Let reread and think on this for a moment

tight star Dec 30, 2021, 3:11 PM

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Alrighty

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hmm

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I wonder if there's a way to make all payment received in a specific currency

nova mist Dec 30, 2021, 3:24 PM

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I mean if you are creating the PaymentIntents, you can specify the settlement currency correct?

tight star Dec 30, 2021, 3:24 PM

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You do ?

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https://stripe.com/docs/api/payment_intents/create#create_payment_intent-amount

Stripe API reference – Create a PaymentIntent – curl

Complete reference documentation for the Stripe API. Includes code snippets and examples for our Python, Java, PHP, Node.js, Go, Ruby, and .NET libraries.

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It says currency

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But is that the settlement currency ?

nova mist Dec 30, 2021, 3:26 PM

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yes the currency that you specify under that

tight star Dec 30, 2021, 3:27 PM

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hmm

nova mist Dec 30, 2021, 3:27 PM

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Apologies I am not finding great answers on this at the moment. It may be worth reaching our to our support team about this https://support.stripe.com/?contact=true

Stripe: Help & Support

Find help and support for Stripe. Our support center provides answers on all types of situations, including account information, charges and refunds, and subscriptions information. Get your questions answered and find international support for Stripe.

tight star Dec 30, 2021, 3:28 PM

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this stripe isnt you guys's support ?

nova mist Dec 30, 2021, 3:28 PM

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They should be able to answer money flow questions like this. I thought I understood this better and could speak to your case

tight star Dec 30, 2021, 3:28 PM

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i will contact them tmr i guess

nova mist Dec 30, 2021, 3:28 PM

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This server is Stripe official but it is more for help writing code for integrations

tight star Dec 30, 2021, 3:31 PM

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I will check with them thanks

#monshery-conversion