How does the payout process with Payrexx by Stripe work?

Payrexx by Stripe payments are made with the credit card acquirer Stripe. Therefore, the payout process works according to the stripe guidelines:

 

Stripe accepts payments only if the recipient agrees 100% on the transfer with the registered account holder. It is therefore important that when signing up for Stripe, you provide the correct payment details and company type:

  • Individual entrepreneurs are considered natural persons. Remittances are therefore always directed to the name of the registered 'Company Representative' at Stripe. The bank account must therefore run on the personal name of this person and not on the company name.
  • Other company types such as Ltd. or Inc. are considered legal persons. Transfers will be sent to the registered company name. The bank account must also run on this company name and may not be registered on a natural person.


Before you  finally receive funds, Stripe will do another proof of identity - once you have verified your account, you can receive funds.



When will the money be transferred?


After your customer has successfully completed a purchase, the payment is checked by credit card acquirer Stripe - so-called security checks are carried out. This process usually takes at least seven days. Afterwards, the money will be refunded to your Stripe account and then transferred to your bank account (more information on this can be found in the section "Where does the money get paid?") At which intervals the money should be transferred to your bank account, You can set this in the settings of Stripe, where you can also choose to pay automatically or manually:


You can call up this menu as follows: Payouts -> Settings -> Payout schedule


Where is the money being paid?


The money will be transferred from your Stripe account to the bank account you deposited 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 work in such an industry, you will not be able to receive payments with Stripe. More information can be found here:

Unsupported business models


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