How does Stripe work?

All this information is also available directly on stripe support page (https://support.stripe.com/)

1. Receive payments via Stripe

Information on payments received via Stripe

Set up your bank account to receive payments from Stripe.

To receive funds for payments you have processed, Stripe makes deposits (payments) from your Stripe account to your bank account. This account balance includes different types of transactions (e.g. payments, refunds, etc.).

Speed of payment transfer

The availability of payments depends on a number of factors such as the industry and country in which you operate, and the risks involved. When you start processing customer payments with Stripe, you will not receive your first payment until 7-10 days after you receive your first successful payment.

The first payment usually takes a little longer to set up the Stripe account.

Any subsequent payments are then processed according to your account's payment schedule.

You can view a list of all your payments and when they should be received on your Stripe dashboard.

2. Add your banking information (on Stripe)

Your bank account information is required to activate your account. The type of bank account information required depends on the location of your bank account.

Update your bank account information

pageModify my banking informationpageChange the email associated with my Stripe account

Supported accounts and settlement currencies

In general, bank accounts must be located in the country where their settlement currency is based (e.g. SEK bank accounts must be based in Sweden), although there are some exceptions:

• Stripe accounts in Canada support Canadian-based USD bank accounts

• Stripe accounts in Ireland support GBP bank accounts in Ireland, provided they support payments via Bacs

• Stripe accounts in Europe support EUR bank accounts located in any European country where Stripe is currently live, in public beta or private beta

3. stripe payment schedule

By default, Stripe automatically creates payments from your balance based on the schedule specified in the dashboard. The schedule used depends on your country and whether your business operates in a high-risk industry.

When a payment is first received, it is initially reflected as a pending balance (less Stripe fees). This balance becomes available according to your payment schedule. For example, it takes 7 business days from the time a payment is received until it is paid by Stripe accounts.

Most banks deposit payments into your bank account as soon as they are received, although some may take a few extra days to make them available.

Standard payment calendar

2 business days :

Applies to: Australia, U.S. (except companies in high-risk sectors)

Your available account balance payments are made daily and contain payments processed two business days prior (this is the time it takes for your pending account balance to be available according to this schedule). For example, payments received on a Tuesday are paid on Thursday and payments received on a Friday are paid on Tuesday.

If your business operates in a high risk industry, this schedule may not be available immediately. We need a short period of time to monitor your business activity before we can activate it, in which case a 7 calendar day schedule would apply instead. This delay protects your business, your customers and Stripe from the increased risk of fraudulent activity.

4 business days :

Applies to : New-Zealand

Payments are made daily and contain payments processed four business days prior. For example, payments received on a Monday are paid on Friday.

5 business days :

Applies to : Malaysia

Payments are made daily and contain payments processed four business days prior. For example, payments received on a Monday are paid the following Monday.

7 business days :

Applies to: All countries except Japan and high-risk businesses in Australia or the U.S.

Payments are made daily and contain payments processed seven calendar days prior. For example, payments received on a Tuesday are paid the following Tuesday.

30 business days :

Applies to : Brasil

Payments are made daily and contain payments processed thirty calendar days prior. For example, payments received on July 1 would be paid on July 31.

Weekly :

Applies to : Japan

Payments are made once a week (on the day of your choice) and include payments processed between 4 and 11 days prior. For example, if payments are scheduled on Wednesdays, your account balance from Sunday of the previous week to Saturday of the previous week is deposited every Wednesday.

Alternative payment schedule

If you prefer to receive payments on a fixed schedule, you can choose to send them weekly or monthly in your account payment settings.

When you select a weekly schedule, you can specify the day of the week that payments should arrive in your bank account.

For a monthly schedule, you can specify the day of the month. Payments scheduled between the 29th and 31st of the month are sent on the last day of the shorter months.

Selecting a weekly or monthly schedule does not change the time it takes for your pending balance to become available. If your account previously operated on a two-business day daily payment schedule, it still takes two business days for your pending balance to become available. For example, if a Stripe account changes from two business days to weekly on Friday, the available balance includes payments made the last week before Wednesday.

4. Payment failures by Stripe

If your bank account cannot receive payments for any reason, your bank returns the funds to us. We then return an error that describes the reason of the failure. It may take up to five additional business days for your bank to return the payment and inform us that it has failed. If this happens, you will be notified by email and in the dashboard. To ensure that your bank details are correct, you must re-enter them if a payment fails. After re-entering your bank account details, Stripe will attempt to make the payment again at the next scheduled payment interval.

It is important to ensure that the bank account information you provide is correct. If it is not (for example, a typo in the account number), it is possible that payments will be sent to another bank account holder. If you are sure that your bank details are correct or if you have been in contact with your bank to resolve any problems that may have arisen, you can resume payments by clicking on "Resume Payments". If you have still not received a payment from Stripe and have not been notified that it has failed after an appropriate time period, please contact us.