#JayJay-automatic-payouts
coarse plank
Hi! Happy to help. This sounds like Stripe Connect with Separate Charges and Transfers.
Do you already have a Stripe integration? Or are you starting from scratch?
random plover
Hey @coarse plank ! Appreciate your help 🙂 So, we are currently running on Wordpress/WooCommerce (which uses the Stripe Payments plugin) but are building our own platform from scratch!
I was looking at Stripe Connect but, it seemed like users needed to sign up and connect a Stripe account to receive automatic payouts?
coarse plank
I was looking at Stripe Connect but, it seemed like users needed to sign up and connect a Stripe account to receive automatic payouts?
You would have to have your users onboard a Stripe account in order to receive payouts. They can either create one on their own and connect it to your platform, or you can use an integration portal that asks them for all the relevant details and makes a Stripe account for them.
random plover
Interesting! I was hoping that we could use the users bank acc. information we already have to initiate an automatic payout through Stripe! Would that not be possible- I assume users would also need to go into their Stripe accounts to initiate a payout to their normal bank accounts?
coarse plank
I was hoping that we could use the users bank acc. information we already have to initiate an automatic payout through Stripe! Would that not be possible-
You can do that, but you would have to use Connect. We don't have a consumer-to-consumer transfer product.
I assume users would also need to go into their Stripe accounts to initiate a payout to their normal bank accounts?
You could (as the platform) create these manually on your end, or have Stripe automatically create them for the user.
random plover
> I was hoping that we could use the users bank acc. information we already hav...
No that's okay! We hold the money as 'the platform' at the moment anyway (as we manually do payouts now which is very clunky).
So instead of it being consumer-to-consumer it's rather, consumer-to-platform-to-consumer haha
coarse plank
Ahhhh, yep. You can definitely still do that, but you'd have to onboard the end-user (e.g. the consumer at the end of the transaction's lifecycle) to Connect as a Sole Proprietor. The functionality is there! It's just a matter of satisfying KYC obligations and getting them onboarded with all the necessary credentials: https://stripe.com/docs/connect/required-verification-information
