Folksy Ltd

Stripe payments into bank

Hello Does anyone know if you can withdraw money from Stripe like you can on PayPal?? I understand the first payment takes up to 10 days but after that can you set it up to transfer manually into your bank? I’ve had a look but can’t figure it out.

Hi
Not sure about manual transfers, I set mine up so that stripe pay it into a bank account and this is usually 5-7 days after they have confirmed customer has paid. The only issue I have with this system which I think will outgrow Paypal is that its not easy to see what Stripe have charged per transaction.
It maybe worth contacting Folksy support for their advice.

hope this helps
Mel

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Stripe should automatically transfer payments to your bank account on a rolling basis - so for example, if a customer pays for an order on Wednesday, the payout will go from Stripe to your bank account the following Wednesday, and if you get another order on Thursday that payout will happen on the following Thursday. You can change the settings for your on your Stripe dashboard here https://dashboard.stripe.com/account/payouts and see what’s being paid when here https://dashboard.stripe.com/balance/overview

If you log into the Balance section of your Stripe dashboard https://dashboard.stripe.com/balance you can see the fees charged per transaction @bluebellwoodturning BUT this does include the Folksy commission which is taken out at point of sale. However, if you click on the payment, it will take you to the page for the sale and there’s a small 'i" button you can press to see the breakdown of fees.

This is what it looks like

You’re right though, Mel, I can’t find an easy way to see a list of all the Stripe fees without the Folksy fees included. It’s something we can flag up with Stripe though and see if there’s another a another or better way to get that information.

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