21–30 of 143 posts
Apart from Balanced Payments and Dwolla I don't think anyone gives a simple way (means using API) to send payouts. This could be huge!
Balanced Payments only allows transfers to customers with Wells Fargo accounts, right? Does Stripe allow transfers to all banks?
How long does it take from the time I create the transfer to it hitting the user's bank account?
https://stripe.com/docs/tutorials/sending-transfers#transfer...
Example: If something goes sideways on an $100k transfer, $0.25 is 0.0003% of the borked transaction....
How long does it take from the time I create the transfer to it hitting the user's bank account?
Earlier quoted context omitted.
(I work at Stripe.) Right. Those are both things that are on our product roadmap. (:
On an only moderately related note... here are two more things that I would love to see on the roadmap: 1) Better support for disputes in the API (right now to get all our disputes, we have to pull _all_ charges and walk them...) 2) The ability to generate test disputes. You guys provide an awesome test API, but there's no way to generate disputed charges in testing, so I can't test any of that functionality...
2) Definitely. We'll keep that in mind!
Earlier quoted context omitted.
Tl;dr: we work with a bank to do this; we do lots of checks; and you're required to verify the identity of the recipients. See https://stripe.com/docs/tutorials/sending-transfers#verifyin... for more info.
Do the funds ever sit in your (Stripe's) account or is the ACH transfer direct from the card to the destination account?
This is cool, but the money has to be charged via credit card first right? It would be nice to transfer money from the bank account linked to stripe to another account, and as a user of Stripe's connect API, it would be nice to enable this in our apps for our users. Even cooler would be full blown ACH. We are working with ACH providers now and what a stark contrast to the beauty of stripe. All require some form of mo…
You could checkout Balanced Payments ( https://balancedpayments.com/ ) - a YC company that does ACH.
Earlier quoted context omitted.
Do the funds ever sit in your (Stripe's) account or is the ACH transfer direct from the card to the destination account?
Our implementation might change over time, but we don't ever take title of the funds at the moment.
You didn't answer the question.
How does this jive with laws around transmitting money?
Tl;dr: we work with a bank to do this; we do lots of checks; and you're required to verify the identity of the recipients. See https://stripe.com/docs/tutorials/sending-transfers#verifyin... for more info.