How do I get paid for purchases on the Web?

After you’ve made money on our platform, you may be wondering about payouts. Our service is designed to make it easy for you to get paid quickly and securely. Let’s dive deeper! 

What is Stripe Connect?

Stripe Connect is a platform offered by Stripe, a popular online payment processing company. It provides tools and APIs that enable businesses to build and manage online marketplaces, platforms, and sharing economy businesses. 

Stripe Connect allows businesses to facilitate payments between buyers and sellers, manage funds flow, handle transactions, and implement complex payout structures. 
It offers features such as user account creation and management, payment processing, and the ability to connect and manage multiple sellers or service providers within a platform.

Add a bank account for payouts

If you do not have a bank account on file in Stripe, you will need to add one before you’re able to receive payouts.

To add a bank account:

1. Log into your Dashboard.

2. From the Stripe dashboard menu, click on the Settings icon and then under your Business settings, click on External Payout Accounts and Scheduling.

3. Click + Add Bank Account.

4. Enter bank account details.

5. Click Add Bank Account to save.

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Payout schedule 

Your payout schedule refers to how often Stripe sends money to your bank account.

In supported countries, your default payout schedule is daily automatic. 
You can change this in the Dashboard to weekly automatic, monthly automatic, or manual payouts. 
When selecting a weekly or monthly schedule, you can specify the day of the week or month that you want payouts to arrive in your bank account. 

Selecting a payout schedule doesn’t change how long it takes your pending balance to become available, but it does give you control over when your funds are paid out. For example, if your account was operating on a daily payout schedule with a 3 business day payout speed, the funds paid out daily would be from 3 business days preceding.

Waiting period for first payout on Strip

The first payout for every new Stripe account is typically paid out 7 days after the first successful payment is received. This waiting period can be up to 14 days for businesses in certain industries. This delay allows Stripe to mitigate some of the risks inherent in providing credit services.

Minimum payout amounts

The minimum payout amount depends on the lowest amount we can support with our banking partners. For example, in the US, the minimum payout is one cent (or 0.01 US dollar).

You can find answers to frequently asked questions about Stripe payouts here or contact our support team for more information.