#Jimmy-Payout
worthy sandal
Sure can, (didn't want to post a large message in the main discord chat)
https://stripe.com/docs/connect/account-balances#holding-funds
According to the above doc "For compliance reasons, funds can be held in a reserve for up to 90 days from charge creation to payout." (The business is located in Australia)
I've searched around the dev-help but found some conflicting information regarding the manual payout limit for a platform account and what is involved in the "forced" payout if there has been a balance lasting longer than 90 days.
The basic business flow is as follows:
Party A contracts some party to complete work
Party A gets charged immediately - Stripe Charge created
Party B completes the work after some time (typically 30-60 days)
Party B get paid for the work - Stripe Transfer to Custom Connect account (at a reduced rate to cover stripe fees and have a bit left over). We use the source_transaction field to connect transfers to charges
As a result of the reduced rate transferred to the connect account there will possibly be a small amount remaining in the platform account after the transfer (and after fees are deducted)
Lets say I have the following scenario:
(Dates: dd/mm/yy)
Charge 1 and relevant Transfer to Connect Account Created 28/11/21 - Leaving a remaining balance of $2 after all fees
Charge 2 Created 10/02/22 - This amount will sit in the Platform balance until a Transfer to the connect account can be created
90 Days since Charge 1 26/02/22 (we have $2 left in the balance), platform balance gets paid out
Transfer 2 (For charge 2) 28/02/22 (which is after the 90 days of holding a "balance")
If the "90 days of holding funds" is exceeded will only the charges from over 90 days ago that resulted in the positive balance be paid out, or will the amount for Charge 2 also be paid out even though it had only been in the platform balance for at most 16 days? The documentation states its 90 days from charges but I've read some confusing information from some of the old posts here on discord
fringe ermine
Sorry, will be back in a few mins
back, let me catchup...
Charge 2 Created 10/02/21
To clarify, you mean 10/02/22 (2022 year) here, correct?
worthy sandal
Ah yes sorry, that's correct
fringe ermine
I understand your use case. Personally I think it should only be the Charge 1 which is over 90 days ago and shouldn't affect Charge 2. Which information you find confusing here? (Thread name?)
worthy sandal
Around this comment: #938699217801736282 message
That was the main thread that threw me off
It may be because they're talking about a connect account rather than a platform account, I'm not sure if that makes any difference
In my case the connect account has a daily payout, it's just the main platform account that's on a manual payout schedule so that the charges don't get thrown into the platform bank account before being transferred to the connect account
fringe ermine
Um you are right that comment hints all accumulated balance would be paid out. To be honest the best answer I can give is .... emailing our Support team and they should have the definitely answer. Personally I would need to ask in internal to give the answer (I wasn't aware of accumulated or not), but that would comes to the same result if you email Support
worthy sandal
Honestly it makes sense that it works the way you think it does, given an active stripe account will very likely always have a positive balance if there's any time between charges and transfers (even in the case of 100% of the amount being transferred to connect accounts)
I'll send an email through and see what the result is, seems counterproductive to allow manual payouts if its just gonna be basically forced after 90 days anyway
fringe ermine
given an active stripe account will very likely always have a positive balance if there's any time between charges and transfers
fair point IMO
seems counterproductive to allow manual payouts if its just gonna be basically forced after 90 days anyway
Just want to add that 90 days is really the hard deadline and it's not decided by Stripe. Stripe as a Payment Processor we also is not in a position to hold funds (the money belongs to the Connected Account) on behalf of our users (you-the platform) regardless of your business purposes. We are under regulation/financial law enforcement ourself.
worthy sandal
Yeah I completely understand that, just a bit weird if all the balance is forced out is what I mean
fringe ermine
It's really not a matter of features(manual payout or not), it's the finance industry!
Yeah completely agree on the point of all the balance vs part of the balance
worthy sandal
All good, thanks for your help
Not sure if you guys close threads immediately, if not, I'd be happy to update this thread once I get a response from support (for others that search around existing threads)
fringe ermine
Sure. I will need to temporarily close it because I am stepping down for the day. But feel free to ask in main channel to re-open it and any of my colleagues should be able to