What’s the difference between a Connect standalone account and a Connect managed account?
A standalone Stripe account is controlled by the account holder (i.e., your platform’s user). A managed Stripe account gives you control over your users’ entire onboarding experience. The managed Stripe account is almost completely invisible to your user, and you’re responsible for all interactions with them.
When will managed accounts be available in my country?
Managed accounts for Stripe Connect are currently in public beta in Canada and the U.S., and private beta in the other countries we support. We are working hard to add interested users to the private beta. Please let us know if you’re interested, and we’ll let you know when we’re ready for you!
Can I pay out my vendors, contractors, or service providers with the funds I collect from Stripe?
Yes! Using Stripe Connect, you can arrange payment to third parties anywhere where Stripe is available.
Can I enable my users to receive payments from others?
Yes! We’ve created Stripe Connect for exactly these use cases.
With Stripe Connect, you can accept payments for your users without being involved in the flow of funds. When your users “Connect with Stripe”, they’ll be prompted to connect their existing Stripe account or frictionlessly create their own, and you’ll have access to their account to make API calls for them.
How are the Transfers API and transfer recipients affected by the recent updates to Stripe Connect?
As a marketplace, you can continue to use the Transfers API until you integrate with the updated Connect. Stripe is committed to maintaining this API through 2015. If you wish to migrate to the new APIs, we provide a guide on doing so.
If you’d like to migrate recipients to managed accounts, check out our migration guide.
What is the process for verifying managed accounts?
Every country has its own set of rules about paying out funds to individuals and businesses. These are typically known as “Know Your Customer” regulations, or KYC. These regulations broadly require two things: collecting information, and verifying the information is accurate.
Stripe does a lot of the heavy lifting for you when it comes to KYC and have identified what information usually needs to be collected. However, in terms of exactly when and how to ask for information, Stripe leaves a lot up to you, the platform. After all, you understand the of nuances your particular business better than we do. Click the above link for more details on the verification flow and what information you’ll need.
What controls does Stripe Connect provide for handling refunds and disputes tied to managed accounts?
If you are using Stripe Connect and managed accounts, your platform will ultimately be responsible for refunds and chargebacks. This is true whether you charge directly on the managed account or through your platform using the destination parameter.
We provide a number of tools that let you create refunds on behalf of the managed account, as well as retrieve funds back from managed accounts when a refund or chargeback occurs.
Considerations for platforms using Stripe Connect
A guide for platforms considering using Stripe Connect to power payments for their sellers.