We're going to be turning Stripe payments on shortly

I’ve now had five Stripe sales against two Paypal ones - looks like people are favouring Stripe. Hard to say yet if it is leading to more sales as it was launched at a time when sales go up anyway. Although this festive season seems to be starting more slowly than last year!

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Does anyone know how long it takes for stripe payments to reach your bank? I had my first one Sunday and still not paid. Does it go into your bank automatically or do you have to transfer it from stripe account?

I believe it stays with Stripe for 7 days before being transferred. You can tick a setting so that it pays out more frequently, but each individual payment will sit there for a week before it comes out (ie if you set to pay out daily, and get one sale every day for a week, the first will pop out on day 7,the next on day 8 …)

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If you log in to your Stripe dashboard and click ‘Balances’ from the options on the left hand side of the screen, it will show you how much is on the way and estimated dates of future payouts. :grinning:

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Just to add to what others have said - Stripe has an option for automatic withdrawals, or for manual withdrawals.
They will hold all payments for a period of 7 days before they become elligible to withdraw, then it depends on your Stripe account settings. If you have daily automatic withdrawals set, the payment will transfer to your account on the day it becomes elligible to withdraw. If you have a business bank account that charges for automated deposits, then you may be better off setting your transfers to be manual (so you only get charged once, when you decide to withdraw), or to weekly/monthly automated withdrawals so that more payments are bunched together into a single withdrawal.
From the Stripe dashboard, you will find the payout setttings under:
Settings -> Business Settings -> Bank Accounts and Scheduling

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