Which countries support auto debits?

Why would my bank account need to be debited?

Your bank account may need to be debited if your account balance goes into the negative. This is done to ensure that any pending refunds on your account can be fulfilled in a timely manner, which will in turn reduce the risk of customer disputes.

Why might the balance on my account go into the negative?

Your available account balance may go into the negative if the cost of refunds, disputes or platform fees is greater than the existing balance. If your account has a negative balance, you won't be able to issue refunds until the balance is returned to a positive state.

Does Stripe have permission to debit my account?

Your platform partners with Stripe for secure payments. As noted in section C9 of the Stripe Services Agreement, you agree to allow Stripe to debit funds from your bank account to cover amounts you owe to Stripe, including negative balances on your account.

Why can't I pay back the negative balance through future payments?

It's important that your account does not hold a negative balance for long periods of time, as it may delay refunds to your customers, which could result in disputes and related fees. Continuous disputes can result in your business being added to a card network monitoring programme. For this reason, a debit needs to be initiated as a response to a negative balance.

What happens if there are insufficient funds in my bank account to cover the debit?

The debit attempt will fail, and you may incur an overdraft or dishonour fee depending on your bank's policies. Multiple subsequent attempts to debit your bank account in the event that a debit fails will be made. As such, it is strongly advised to ensure that you have enough funds in your bank account to cover the debit amount.

In some cases, withdrawals may be split into 2 debits. These will show up on your bank account as two separate debits for different amounts, usually a 60%/40% split, but they will total the amount needed to cover your negative account balance. This is done to maximise the amount of refunds that can be processed, in the event that there aren't enough funds in your bank account to cover the total negative balance.

Can I change the bank account from which the debit is taken?

Yes. You can change your bank account by updating the bank account linked to your Stripe account via your account. Please note that this will also change the bank account to which your payouts are sent.

Can I add funds to my account via wire transfer instead of the auto debit?

Yes. You'll find instructions on how to add funds to your account via wire transfer.

Will I be notified when attempts are made to debit my bank account?

Yes, before debits are attempted to your bank account, you will receive an email notification from your platform. The debit will also show up in your account as a negative payout.

Will you debit me for every negative balance or is there a threshold before you make a debit attempt?

You will only be debited if your negative balance is greater than 10 units of your local currency (e.g. 10 USD, 10 GBP, 10 EUR, etc.), with the exception of Hong Kong-based accounts. Hong Kong-based accounts will only be debited if their negative balance is greater than 60 HKD.

When will these debits occur?

The exact time that each debit occurs varies depending on which country your bank account is in.

After the negative payout has been created, you should expect the debits to take place as follows:

• Australia – same working day
• Canada, New Zealand and the United States – next working day
• SEPA countries – within two working days
• United Kingdom – within three working days
• Hong Kong – same working day

For the best estimate as to when the funds will be debited from your bank account, you can check the "Expected by" date of the payout on your account

What are Stripe's ACH company IDs and why might I need them?

Your platform partners with Stripe for secure payments. You may need to authorise Stripe to debit your US bank account. To do this, you will need to contact your bank directly and provide them with Stripe's ACH company ID details.

What currencies are supported for auto debits?

For Australia, only auto debits from AUD bank accounts are supported.

For SEPA countries, only auto debits from EUR bank accounts are supported.

For New Zealand, only auto debits from NZD bank accounts are supported.

For United Kingdom, auto debits from EUR and GBP bank accounts are supported.

For United States and Canada, auto debits from USD and CAD bank accounts are supported.

For Hong Kong, auto debits from HKD bank accounts are supported.