How does Stripe Connect payout work?

Article author
Nneka
  • Updated

When a contractor has an available balance in their Stripe account (visible on Remote), they can trigger a payout to their bank account.

This article will cover:

Types of Payouts

There are two types of payouts for contractors using Stripe Connect:

  • Standard Payout: When a standard pay out is triggered, this will take up to 3 business days depending on country. Some may be quicker than this, some may be a little slower. This is triggered by the contractor manually, or they can set up a daily, weekly or monthly pay out schedule.
  • Instant Payout: If the contractor uses GBP / USD / CAD or SGD they will be able to trigger an instant payout of their available balance which will land in their bank account within 30 minutes. To use this method, the contractor will incur a 1% fee.

How to trigger a payout

To trigger a payout and receive the funds in your bank account, this can be done straight from your dashboard.

  1. Go to the Withdrawal Methods tab.

    Payout_funds..png

  2. Click on Pay out available balance.

    payout_available_balance.png

  3. Choose your preferred payout method then click on Pay out now. If you choose Instant payout, you will need to enter their bank account or card details to get the instant payout.

    Payout_schedule.png

  4. If you choose standard payout, you will need to choose a payout schedule then click on Save.

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