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Send payouts with Stripe

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91–100 of 143 posts

Re: Send payouts with Stripe

#91
post #79
post #76

I'm most interested in the inverse... allowing customers to send us cash directly from their bank accounts for $.25 per transfer (instead of the bullshit credit card company fees). I'm sure there's some serious fraud implications that Stripe would have to deal with to ensure validity, but is that coming?

Yep -- this is something we're really interested in doing as well.

How soon do you estimate having international bank transfers?

Re: Send payouts with Stripe

#92
post #79
post #76

I'm most interested in the inverse... allowing customers to send us cash directly from their bank accounts for $.25 per transfer (instead of the bullshit credit card company fees). I'm sure there's some serious fraud implications that Stripe would have to deal with to ensure validity, but is that coming?

Yep -- this is something we're really interested in doing as well.

It may be limiting to call the API object "Recipient" then. It precludes a bidirectional ACH object. Maybe "Bank Account" or something would have been more future proof.

Re: Send payouts with Stripe

#93
post #91
post #79

Earlier quoted context omitted.

Yep -- this is something we're really interested in doing as well.

How soon do you estimate having international bank transfers?

Being able to receive international bank transfers on Stripe would be amazing. Our bank charges us $15 per received wire.

Re: Send payouts with Stripe

#94

Earlier quoted context omitted.

Its nice to see that Stripe wishes competitors well when all Balanced tried to do was promote their brand.

This statement fully captures the stark difference between Stripe and Balanced. Stripe is led by engineers who want to improve the payments infrastructure. Balanced is led by businesspeople who want to hit it big. Stripe just so happens to be a business as well. Nothing wrong with either, but that should point you toward which company has the developer's true interests at heart :) Hint: It's Stripe.

Why do you have such a simplistic binary view of the world (hint: the world isn't like that), and why the sock puppet account? (hint: you're a shill)

Re: Send payouts with Stripe

#95
post #50
post #40

Earlier quoted context omitted.

The Balanced Payouts service has been available for some time. Our ACH Debit (pay with bank account) is in Beta however.

Taking over this thread talking about your service is pretty awful - surely you can announce your features in your own right rather than riding on the back of Stripe's name?

This is an open forum and the comments about Balanced are entirely on topic.

Re: Send payouts with Stripe

#96

Earlier quoted context omitted.

This statement fully captures the stark difference between Stripe and Balanced. Stripe is led by engineers who want to improve the payments infrastructure. Balanced is led by businesspeople who want to hit it big. Stripe just so happens to be a business as well. Nothing wrong with either, but that should point you toward which company has the developer's true interests at heart :) Hint: It's Stripe.

Why do you have such a simplistic binary view of the world (hint: the world isn't like that), and why the sock puppet account? (hint: you're a shill)

Agreed; this direction is unseemly. Let's just focus on the products.

Re: Send payouts with Stripe

#97
post #74

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?

Come on Aaron. As someone who formerly ran a payments company, you know that going direct from a credit card to a bank account is not possible with today's banking infrastructure. Of course the funds go to their account. You know that, but you're clearly trying to prove a point here. Please, do it somewhere else.

Of course it's possible. Stripe could give its processor the routing and account number of its customer to deposit the funds in in place of its own routing and account number. This is why the Department of the Treasury distinguishes between payment processing companies and money transmitters.

By the way, I still run a payments company, and you should not assume that you know what I know (or don't).

Re: Send payouts with Stripe

#98
post #56

Earlier quoted context omitted.

Looks like the HN backend needs another stealth founders-only feature: highlight known troublemakers to remind people to probably not interact with them unless you know you can win a pet argument.

Doesn't even need to be a backend feature. A Chrome extension (a la Reddit Enhancement Suite) that lets you tag people would be more than sufficient. I understand Aaron's motivation. Asking for that info on HN though is the same as starting a fight in a Starbucks. We're better than that.

I'd say it's more like asking a fellow air passenger, in earshot of others, whether that thing they just put to their lips is a candy cigarette or a real one.

Payments systems are complex and the regulations are complex. I don't think it's rude to ask questions about complex topics, and here I honestly do not know what Stripe is doing. As both a Stripe customer and competitor I have the right to ask.

Re: Send payouts with Stripe

#99
post #23

$0.25/transfer, without a cap on the amount? Might expose Stripe to a lot of risk on large transfers? Example: If something goes sideways on an $100k transfer, $0.25 is 0.0003% of the borked transaction....

Since this feature is backed by a bank (FDIC backed bank no doubt) I assume it has the same protection as any other transfer and that the backing-bank is actually shouldering the risk.

Re: Send payouts with Stripe

#100
Just to be clear, this requires a balance in your Stripe account? What if you do not have a balance? How does this affect the currently (already very slow) 7 day payout? If an account is balance holding, and then you withdraw to your own bank account, does that mean the 7 days starts then? What if you do not have enough balance?
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