#jose-maxana-connect
wind rain
It depends a lot on your charge flow and the type of accounts you're using
Can you look at https://stripe.com/docs/connect/accounts and clarify which account type and charge flow you're using?
wind rain
cc @toxic geyser did you see my messages ?
wind rain
Can you also keep this thread for your future questions?
you said "express", but that's one word too :p
The flow of funds and type of charges matters too
But really if you use Express accounts then you, as the platform, pay Stripe's fee
cc @toxic geyser
toxic geyser
Ok express-> connect platform
ok so connect platform cannot be done using express accounts?
olive mantle
Express accounts are one of the three account types for use withe Stripe Connect. What is your question?
toxic geyser
The question is :
I am trying to optimize cost savings by opening bank accounts in the countries in which I am receiving payments.
However, my situation is that I have a social media platform and people that subscribe to my channel are from all over the world. Hence, I am getting a lot of FX fees.
If I wanted to subscribe someone by geo location and to pay in the currency of their country of origin is that viable option with stripe and I would hence avoid the FX fees?
Second question: if I have multiple accounts wouldn't that mean I have to determine which API key to use for the account?
Third question:
the role in connect in this equation would be when I am doing payouts to content creators. But I want to pay them in their local currency and not via FX. How would one manage that?
olive mantle
Hmmmm....that is not a use case I have encountered before.
I am assuming these countries for the content creators would all be in the list of supported countries? https://stripe.com/global
For the 2nd question: Yes, if you want to associate different payments/payouts with different accounts that would require using the correct API key
For the third question, we do have a feature for cross-border payouts here: https://stripe.com/docs/connect/cross-border-payouts. I haven't worked with it extensively though to verify what, if any, additional fees may be applied to the process.
Are these Stripe payouts for which you are seeing FX fees? Do you have an event ID I could examine?
Stripe Connect does support multiple bank accounts with multiple settlement currencies: https://stripe.com/docs/payouts#multiple-bank-accounts