I know how to transfer money from one account to another one but I need recommendation regarding the following scheme
Need to send 100$ to destination customer
90$ from client
10$ from platform
Is it possible?
Related
I am collecting a payment using Stripe, and want to keep a portion, and send the rest onto another account from another organisation.
Stripe have told me that I have to connect an account. I have done this, Stripe gives me a link which the other organisation pastes into their browser, and all works. I can create a transfer linked to a payment intent.
But, when the link is pasted into the other organistions browser, this message is shown.
______ will be able to see your account data (such as all payment and payout history), including any data created by other business you've connected. They'll also be able to create new payments and take other actions for you.
This seems crazy - I just want to pay them some money, not ask them for full access.
Am I missing a trick?
Stripe Connect is a product/tool that allows accounts to work together to provide goods and services to end customers. There are a few different approaches to how this is configured based on your use case as well as whether you would be acting as the Platform (the one in control) or the Connect Account.
You should review the different Connect Account Types and determine what best matches your use case. Some questions to consider are as follows:
Who is interfacing with the end-customer (you or the other account)?
Who is providing the product/service?
Is this other account providing a service to you in exchange for a cut of the revenue?
On what account should the transactions and customers be stored?
It sounds like, based on the warning message, you were creating the other account to be the Platform and you would be Connect Account. In that cases the other account could make API calls on your behalf using your account token. This would be normal if the other account is providing a service to you like funneling customers to you in some way. A good way to quickly review what approach makes the most sense for your use case is to review the Funds Flow diagrams for the different types of Charges
Direct Charges
Destination Charges
Separate Charges and Transfers
I run a marketplace, where customers pay and reserve for a specialised service.
We use Stripe with Stripe Connect to handle payments.
In my business, we don't know who is going to do the job when the customer pay and it can even change several times. I tried to update the paymentIntent with no success, and the API documentation is not clear about the possibility.
Is it possible to change the destination of an existing paymentIntent ? And more precisely how?
Two options :
You could use Separate Charge and Transfers (SCT) where you charge the customer first and then transfer the funds to the service provider later. [0]
You could also use auth and capture [1] where you "reserve" the funds first with no destination (i.e. a charge on your platform). Once you know who the service provider is, you can cancel the charge, and then immediately create another charge and capture it with the correct destination.
[0]https://stripe.com/docs/connect/charges-transfers
[1]https://stripe.com/docs/payments/capture-later
I am currently only seeing a way to charge customers to yourself based on https://stripe.com/docs/api/charges/object
. Is there any way to set the destination to another stripe account? Basically, charge a customer whos funds then go directly to another account? The platform is acting as a facilitator and is not intended to take control of the funds during this process, but instead simply move them from one custoemr to another.
This is what Stripe Connect is for: https://stripe.com/docs/connect/
Say I have a company where I want to make direct deposits to members' bank account. I understand that's it a really bad idea to ask them their information on the site and store it in the database.
But what If i ask our members to email us their bank info for direct deposits? I would then simply take their info and put it in excel sheet instead of storing it in the server(and delete the original email). That would be my reference point to sending the members direct deposits using my bank account. Is that legally allowed? If not, what would be another method to request a member's bank account info to make direct deposits?
Collecting banking account information has significant security implications and doing via email is not kosher. But there are alternatives.
The simplest alternative is using interbank service like Zelle where you can send money to your members' bank accounts using just their email accounts (the one associated with their bank login). We pay our smaller vendors this way and most get paid immediately without any transaction fees. But this may not work for members who use smaller banks outside the network (e.g credit unions) and the service does not have sophisticated tracking or linking to invoices.
If you have international members or need a more scalable/programmatic/self-serve solution, you can consider using a payment gateway provider like paypal/braintree or stripe-connect. Stripe is especially easy to integrate with a website and instead of you collecting and maintaining banking information for your members, stripe does on your behalf. Companies like Lyft use this to pay their drivers. It scales and works in almost all major international locations. Downside is there are per transaction fees which get steep if you want instant payments.
OK, I am a little confused on the best way to setup Stripe for customer to customer direct bank transfer. Here's what I want to do.
I am building a rental platform where a tenant and landlord can enter their bank information (routing and account) and then on a monthly basis transfer money from the tenant to pay the landlord directly (ie, bank to bank transfer) for that months rent.
I think Stripe Connected account makes the most sense to make this happen. But I guess I am not fully understanding the flow, even after reading the docs. Any insight will be greatly appreciated.
You need to use Stripe Connect to accept payments on behalf of others. In your scenario, you'd create customers for the tenants and connected accounts for the landlords, then create charges to move funds from a tenant to a landlord, with your platform optionally taking a cut out of the transaction.
Since you want the tenant to pay via bank transfer, you'd need to use ACH rather than cards.