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Stripe Connect v2

stripe.com

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Re: Stripe Connect v2

#41

Post by collision »

colinsidoti wrote: post #40
collision wrote: post #19

Earlier quoted context omitted.

Yes, they're the one product now. We didn't want divergent products for similar use cases. One feature we think is neat is you can mix-and-match standalone accounts (where the seller uses a regular Stripe account) and managed accounts (where the seller never goes to Stripe).

Is this a change in price for $0.25 per transfer, to 0.5% per transfer? I guess there's additional value-add from tax management.

Yeah, the $0.25 transfer fee is going away. We didn't want to penalize platforms for transferring earnings to their sellers more frequently.

Re: Stripe Connect v2

#42

Post by bkrausz »

tomsaffell wrote: post #39
collision wrote: post #5

Earlier quoted context omitted.

You have two options: you can have sellers link a Stripe account (and we'll do all the downstream work, like collecting their bank account info and verifying their identity). Or you can create a managed account via API, where the seller does everything from within your app and never needs to go to Stripe.

Can you do the following (in this order): 'Provision' a standalone account with just an email address (with zero work by the account holder to-be) > Initiate a charge (to a buyer) that will ultimately be paid out to that standalone account > Have the seller setup their standalone account (so it's then capable of receiving funds) I'm trying to figure the work flow that has the least toing and froing for both parties.

Indeed you can: https://stripe.com/docs/connect/deferred-accounts

Re: Stripe Connect v2

#44

Post by collision »

tbrooks wrote: post #37

If Stripe is charging 0.5% of funds paid out to managed accounts, does this mean you’re “double dipping”?

We're getting rid of the $0.25 transfer fee and replacing it with 0.5% of funds paid out to managed accounts. We do more work (and incur more cost) if you're using managed accounts, so we think it makes sense.

Re: Stripe Connect v2

#45

Post by tomsaffell »

collision wrote: post #41
colinsidoti wrote: post #40

Earlier quoted context omitted.

Is this a change in price for $0.25 per transfer, to 0.5% per transfer? I guess there's additional value-add from tax management.

Yeah, the $0.25 transfer fee is going away. We didn't want to penalize platforms for transferring earnings to their sellers more frequently.

If you're paying out on a $10,000 job, the fee is going from $0.25 to $50.00? Is there a way to keep the flat-fee pricing?

Re: Stripe Connect v2

#47

Post by colinsidoti »

The final piece of the puzzle - for me at least - is the ability to collect money as a business, then pay out my service providers through Stripe.

There's a temptation to just let the money sit in my Stripe account, then payout using a "Special Case Transfer" https://stripe.com/docs/connect/special-case-transfers

But this approach seems non-compliant.

How long before we can payout service providers so the charge is seen as coming from my business, instead of from my customers? (This appears to be the compliance issue.)

An ACH "source" is potentially a good solution (and apparently in beta), but I imagine I'll incur additional fee. Perhaps using my own bank account as a source will be free, but using others will be paid? (Kinda like managed accounts)

Re: Stripe Connect v2

#48

Post by tomsaffell »

bkrausz wrote: post #42
tomsaffell wrote: post #39

Earlier quoted context omitted.

Can you do the following (in this order): 'Provision' a standalone account with just an email address (with zero work by the account holder to-be) > Initiate a charge (to a buyer) that will ultimately be paid out to that standalone account > Have the seller setup their standalone account (so it's then capable of receiving funds) I'm trying to figure the work flow that has the least toing and froing for both parties.

Indeed you can: https://stripe.com/docs/connect/deferred-accounts

Brilliant!

Re: Stripe Connect v2

#49

Post by platz »

solutionyogi wrote: post #14
khoury wrote: post #2

I mean god damn stripe has some great front-end engineers.

+100. It looks modern yet very readable thanks to great typography. Loads fast. Fully usable on mobile as well. E.g. Gets a hamburger menu on Mobile. The featured client animation is simpler. The spinning globe icon is replaced by a static image. They have absolutely top notch front end engineering talent. This is in huge contrast to the current trend where they want to hijack browser's scrolling behavior for absolut…

Some tradeoffs though; this is what it looks like on IE9 http://i.imgur.com/EkH81zN.png

Re: Stripe Connect v2

#50

Post by tbrooks »

collision wrote: post #44
tbrooks wrote: post #37

If Stripe is charging 0.5% of funds paid out to managed accounts, does this mean you’re “double dipping”?

We're getting rid of the $0.25 transfer fee and replacing it with 0.5% of funds paid out to managed accounts. We do more work (and incur more cost) if you're using managed accounts, so we think it makes sense.

Seems like it would require the same amount of work to pay out $10,000 vs. $100,000.

Why scale the fee?

Does this apply to marketplaces/accounts migrating from Balanced? There was an assurance that Stripe would honor Balanced's pricing. https://www.balancedpayments.com/stripe/faq#will-our-pricing...

If you require marketplaces to use managed accounts then it's an extra tax, no?

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