How do you receive Stripe payments
How does Stripe pay out?
Payments with Stripeare carried out with the credit card acquirer Stripe. Therefore, the withdrawal process works according to the Stripe guidelines:
Stripe will only accept payments if the recipient on the transfer matches the registered account holder 100%. It is therefore important that the correct payment details and company type are entered when registering on Stripe:
- Sole proprietorships are considered natural persons. Transfers are therefore always made to the name of the registered 'Company Representative' at Stripe. The bank account must therefore be in the personal name of this person and not in the company name.
- Other types of company such as GmbH or AG are considered legal entities. Transfers are sent to the registered company name. The bank account must therefore also be based on this company name and must not be registered to a natural person.
Before you can finally receive funds, Stripe does a proof of identity - once you have verified your account with it, you can receive funds.
When will the money be transferred?
After your customer has successfully completed a purchase with you, the payment is checked by the credit card acquirer Stripe - so-called security checks are carried out. This process usually takes at least seven days to complete. The money will then be transferred to your Stripe account and from there transferred to your bank account (For more information, see the "Where is the money paid to?" Section of this article). You can specify the intervals at which the money should be transferred to your bank account in the Stripe settings. There you can also choose whether to pay out automaticallyor manuallyshould take place:
You can call up this menu as follows: Payouts -> Settings -> Payout schedule
Where is the money paid to?
The money will be transferred from your Stripe account to the bank account that you have on file with Stripe. To add a bank account to Stripe, do the following:
Note:Please note that Stripe does not support various business models. If you are in such an industry, you will not be able to receive payments using Stripe. More information can be found here:
Unsupported business models
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