Stripe Treasury

Post by mchusma » Thu, Dec 03, 2020, 4:59 PM UTC

nlh wrote: post #59

tarstarr wrote: post #5

Hi everyone, I’m Tara, PM on Stripe Treasury. Treasury is a banking-as-a-service API for platforms—built in partnership with the world’s leading banks. Embed interest-earning accounts, bill pay, ACH and wire transfers, and faster access to revenue directly in your platform. Happy to answer any questions here—and I’d love to hear your feedback!

This is SUPER cool - congrats on the launch! A few questions: Do you plan to offer Stripe Treasury to non-marketplace small businesses / individuals? I ask because the #1 thing I've been wanting for the past few years is basically Stripe Bank :) I hate Bank of America. I'm not happy with any of the other startup banks. And honestly, at this point my first instinct when seeing Stripe Treasury is "Imma just build my ow…

Post by sudhirj » Thu, Dec 03, 2020, 5:00 PM UTC

pqdbr wrote: post #55

edwinwee wrote: post #28

Earlier quoted context omitted.

Escrow has a precise legal definition—and while we don’t support straight-up “escrow,” Stripe recently added support to hold funds for up to 3 months. You can use Stripe Connect to manually control (in this case, delay) payout timing: https://stripe.com/docs/connect/manual-payouts .

Why does the US support holding funds for up to 2 years, while everywhere else (like Brazil) only 90 days?

Post by PStamatiou » Thu, Dec 03, 2020, 5:03 PM UTC

toomuchtodo wrote: post #23

alexobenauer wrote: post #19

Earlier quoted context omitted.

This would be incredibly interesting. I have yet to find a bank for our business accounts that doesn't make me jump through ridiculous hoops to get basic things done.

I've had good luck with https://mercury.com for business banking.

Post by weego » Thu, Dec 03, 2020, 5:06 PM UTC

anon589 wrote: post #63

joshuakelly wrote: post #43

There's a reason "marketplaces" get a call out on this landing page. Every single startup that has to manage buyers and sellers ends up needing to implement their own bespoke "treasury" operations. There are other players in this space (Modern Treasury for example), but obviously the distinct Stripe advantage is integrating with the payment stack. This would have saved years of development efforts and maintenance on…

Outsourcing KYC is a questionable decision though - I’m wondering how much of a black box that is or you get the same info as if you implemented it yourself. There’s always false negatives for systems like this, and if Stripe wrongly tells you someone is good then are you liable for acting on that decision?

Post by dreamer7 » Thu, Dec 03, 2020, 5:08 PM UTC

nojvek wrote: post #11

tarstarr wrote: post #5

Hi everyone, I’m Tara, PM on Stripe Treasury. Treasury is a banking-as-a-service API for platforms—built in partnership with the world’s leading banks. Embed interest-earning accounts, bill pay, ACH and wire transfers, and faster access to revenue directly in your platform. Happy to answer any questions here—and I’d love to hear your feedback!

The landing page doesn’t really explain what kinds of problems Treasury solves (may need some customer education since it’s so new) IIUC this is useful for marketplaces like Lyft/Uber/Shopify to automatically provision bank accounts for drivers and have money deposited in there? The value add is faster payouts? Can I use this as a replacement to plaid api? I.e open a bank account through stripe and use that as a way…