Why does it take seven days to receive payments in my bank account?
We definitely understand the cash flow painpoint created by a seven-day turnaround. We’ve begun to address this issue by offering a two-day transfer schedule in the U.S. to most users, and we are actively working to speed up transfers for all of our users around the globe.
For a bit of background, most other payment providers require a “reserve.” This is a pile of cash that they hold onto to protect themselves against various risks associated with providing credit services to a business. This can often be a substantial fraction of monthly revenue, and becomes quite expensive from a cash-flow perspective. Stripe’s transfer delay is designed as a friendlier alternative to a reserve system.
It’s also worth noting that this hold occurs on a rolling basis; so, a charge made on Wednesday (while your account is on our seven day schedule) is in your bank account the following Wednesday, a charge on Thursday is in your bank the next Thursday, and so on. In this way, you can avoid the hassles traditionally associated with payment processors' reserves while still gaining the benefit of continuous payouts.
That said, we’re actively developing more advanced risk controls and working with our global banking partners so that we can further reduce the delay for our merchants both inside and outside the United States.
Please be aware, even though we will submit transfers every day of the year, with some banks, transfers won’t be available on holidays or weekends, so you may see an occasional delay. For a list of US bank holidays, please see here.
For comparison purposes, it may be helpful to note that other payment providers can often take 2-5 days to transfer funds (especially from payments via American Express).