Our situation:
We are a marketplace (in the EU) where coaches offer courses. We use Paypal (just for Paypal payments) and Stripe for everything else.
At the end of the month we pay out money to our coaches. This is currently a very manual job that we want to automate: For this we planned on using Stripe connect.
How: Every coach gets a connected account and we transfer the money using the Transfer API.
Problem:
We have money in a paypal account and in the stripe account. The money in the stripe account is not enough to pay out all coaches.
We thought we could just put money into our stripe account -> BUT apparently this is not possible outside of the US.
Question:
Does anybody had this issue before? Is this possible? Is there a workaround? Am I overlooking something?
Unfortunately Stripe support has not been helpful...
Thank you! Any help is much appreciated!
Related
First, we take money from customers and as soon as we get the profit on the customer investment we want to transfer it back to the customer, is there any way on Stripe. Please guide.
It sounds like you are building an investment platform and Stripe isn't a good fit, since you can't transfer back money to your customer.
You can somehow simulate by using Stripe Connect with each customer as a Connected Account, but it comes with different limitation on funds flow and fee, so it's not recommended.
I have a platform which users register on with their car and then another user can then rent the car for a period of time. When the payment for the rental is received to our company account I need to be able to pay out 80% to the car owner and then pay our company account the remaining 20%.
I have Stripe integrated on my platform and we can receive payments but I don't know how to set up the rest, Stripe support are saying the platform developers need to do it, but the platform developers don't know where they need to do this and tell me I actually need to do it within Stripe myself. Im so frustrated and confused as no one is helping me.
I would be so grateful for some advice and help on if code needs to be put on the platform by the developer and if so what code? Also if there is a link to the correct guidelines.
Thank you in advance!
Gen
The product you need to use here is called Stripe Connect. It allows you to collect payments on behalf of a third-party, send them the funds and keep a portion of it for yourself.
The idea is that you will act as a platform and have your own Stripe account. Car owners will be able to register with your platform and create their own Stripe account that will be connected to your own.
When a customer wants to book a car you'll be able to collect their card details securely and charge them on behalf of the car owner while keeping a portion of the funds for yourself.
This will be a more complex integration though and something that your developers will need to build for you if you're not the developer yourself. You'll use multiple Stripe products such as Connect as mentioned earlier, but also Checkout or Elements to collect card details.
I am working with a marketplace website. Initially, I will be charging a customer for buying a product and the money will be credited to my stripe account. After that, I want to transfer some money from my stripe account to two different standalone connected stripe accounts in. How can I achieve this using stripe?
The exact feature you are looking for is Transfer. Before April 6, 2017, transfers also represented movement of funds from a Stripe account to a card or bank account. This behaviour has since been split out into a Payout object, with corresponding payout endpoints.
This link has detailed guide of how to create Transfers.
I know this was asked long ago but I couldn't find any satisfactory or to the point answer.
You need to use the "Separate Charges & Transfers" flow described here: https://stripe.com/docs/connect/charges-transfers.
I also recommend that you write to Stripe's support at https://support.stripe.com/email to explain your business model and desired payment flows to make sure that it's something that Stripe can support.
I have a site where I am using Stripe API to collect payments. I would like to send some amount of the money I collect to a user's bank account. How would I go about doing this?
You can't simply send funds to any bank account from your own Stripe account.
You can use Stripe Connect to accept payments on behalf of others (and optionally take a fee for yourself), then send funds to their bank account. But there a lot of things to consider when using Connect and it's quite a lot more complex than simply using Stripe for yourself.
If it sounds like Connect is a good fit for you, I greatly recommend you spend some time to read the docs as well as this article.
I am using Stripe API for a project.
My requirement is users using my app can pay some tips or service fees to other serving users. So basically it is a kind of user-to-user payment.
I have tried everything I can and I am searching on the Internet. But didn't find anything helpful.
Is it possible to do using Stripe?
I am new to Stripe. I have used PayPal before to achieve the same.
Thank you!
I don't know Stripe very well, but with most of the payment service providers you could only enter one account number to which the payments will be paid. This for security reasons so other people can't receive your payments by simply hacking a config value with the users' account number.