#rayon

1 messages · Page 1 of 1 (latest)

dull prism
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hi! A transfer is sending money to their Stripe account, which adds to their balance. Their balance is paid out to their linked bank account via payouts.

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how the payouts happen from that balance depends on you configure it(could be automatic daily as soon as possible, which is the default, or you could only do the payout when you call the API to explicitly make one).

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Should we as platform owner send money to seller directly in bank or their stripe connected account ?
you transfer it to the Stripe account.

vocal vector
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Oh thanks .So when I do transfer It just adds to their balance but won't get to bank yet . But doing payout will send the money to their bank account. ?

dull prism
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yes

vocal vector
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Sorry for again asking but when you said the payout could be automatic daily ? what does it mean ? If I am seller and somebody sent me say $400 . How will payout this be done daily ?

dull prism
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well the normal way this works (https://stripe.com/docs/connect/collect-then-transfer-guide as an example) is a customer does a payment with your platform today and you send a transfer of some of the funds to a connected account(the seller). That money is added to their balance. By default, that money will get paid out in a few days(depends on some factors, see https://stripe.com/docs/payouts#payout-speed) automatically in a bundle payout at midnight along with any other transfers they received today.

vocal vector
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So even if i just transfer , it will get payout automatically ?

dull prism
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if the account is configured for automatic payouts then yes

vocal vector
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and this is default ?

dull prism
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yes