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You could checkout Balanced Payments ( https://balancedpayments.com/ ) - a YC company that does ACH.
Last time I checked they didn't do ACH, and were doing basically what stripe released today.
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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?
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?
I assume the author of the announcement wrote the example code with the longshot hope that some Stripe users would say, "Hey, I guess I'll send Amber Feng three thousand bucks, just to see if this works." Takeaway point: always write code examples in such a way that a straight copy-and-paste might send you a lot of money.
I assume the author of the announcement wrote the example code with the longshot hope that some Stripe users would say, "Hey, I guess I'll send Amber Feng three thousand bucks, just to see if this works." Takeaway point: always write code examples in such a way that a straight copy-and-paste might send you a lot of money.
From my understanding it takes 7 days for the funds charged with a credit card to be available? In this case, is there an api to show how much is actually available to payout to 3rd party?
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…
Earlier quoted context omitted.
Last time I checked they didn't do ACH, and were doing basically what stripe released today.
I originally thought the same too, but found that it is in Beta. http://blog.balancedpayments.com/balanced-payment-method-pay...