#Grygalius-Connect
gentle mesa
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haughty rover
just to make sure I understood your question correctly, each payment from the user will be used to transfer to multiple Connect Accounts?
gentle mesa
Basically yes, but the current setup we were thinking about would be to accept payments from users, sort of "bulk" them within our Stripe account, and later transfers to multiple Connect or non-connect(regular IBAN) accounts.
Later, meaning, lets say at the end of the month or some other period
mild timber
to answer the main question, a Transfer of funds from a platform account to a connected account doesn't have fees, there are fees on payouts from a Stripe account to a bank account.
a transfer to a "non-Connect account" is impossible btw. You can't send money to someone without doing KYC to comply with AML regulations etc, and that's what our Connect product is for(onboarding people to a Stripe account so that they can be KYC'd)
gentle mesa
Got it, thank you! To clarify regarding "connect accounts" and payouts - do all of my "sub-merchants" then require to have a stripe account, or could those just basically be controlled by our platform and then "link" those accounts to actual bank accounts?
mild timber
they have to have Stripe accounts of some type(Standard/Express/Custom) yes, the rule of thumb is anyone who receives money has to have a Stripe account.
https://stripe.com/docs/connect/accounts#choosing-approach
gentle mesa
Understood! Another clarification - if a sub-merchant has a stripe account of his own, can he just re-use the same account to be on our "platform" or does his account need to be a separate one to be linked to our platform?
mild timber
it's sort of complicated since it depends which type of account you're using. In the type of use case you're describing you probably would use Express/Custom and in those ones it's always a separate account that is managed by your platform, but when signing up I believe most of the information gets copied across if the person has an account already(https://support.stripe.com/questions/legal-entity-sharing)
gentle mesa
Yeah the account selection I still haven't figured out as the only difference I currently see is the "Fraud and dispute liability" https://stripe.com/docs/connect/accounts#choosing-approach
mild timber
there are a lot more differences then that really, for example dashboard access and responsibility for collecting identity verification info