Why does Stripe take so long to pay seller t so difficult to navigate. Plus any other payment other than Paypal is any other way to get paid???
Stripe initially takes a week to pay out but after a while that drops down to 3 days. They hold the money in case a refund needs to be processed. If you are having issues navigating the stripe dashboard you can always ask here for a āhow do Iā¦ā most of us have been using it for several years so can help you out.
Currently Stripe and Paypal are the only payment options for buyers (buyers probably donāt know itās stripe processing the credit card payments).
Iāve just raised a query with Stripe over a payment - the sale (on Folksy) was made on 25th November and I got the money on 4th December - 9 days. I appreciate there were 3 weekend days within that slot - so technically 6 days. In their favour, I have to say their āchatā response was excellent - supportive and helpful and I promptly received email scripts of the conversations - signal dropped out so I had to start again.
However the answer was that payment schedule is 7 days:
ā 12:08:00 PM) Valen: That said, your current payout schedule is 7 days, the payout followed that payout schedule.
(12:08:08 PM) Valen: In addition, itās worth noting that itās 7 business calendar days, thatās why it seemed to be delayed since 2nd and 3rd of november was saturday and sunday.
(12:08:54 PM) cornishcraftwork@gmail.com: Ok - thank you. I thought I had set a daily payout schedule
(12:09:40 PM) Valen: Oh, I see. I understand that might be confusing. Iāll be happy to clear it for you.
(12:10:11 PM) cornishcraftwork@gmail.com: Probably my mistake - Iām not that technically minded
(12:10:37 PM) Valen: When you select ādailyā on your payout settings, it means your payouts will be sent once theyāre available., To be available they need to follow the payout schedule, so, in this case your payout schedule is 7 business days.ā
Iām still not entirely sure this isnāt something I have set up wrongly as Valen kept saying āYOUR payment schedule, I havenāt had chance to go back into the dashboard.
Have to say I find the app hopeless unless itās just me.
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Forgot that it was business days, just remembered that it was 7 days when I started (Iāve been on a 3 day hold for several years now). I like the fact it automatically transfers so I donāt have to remember when it would be come available to pay out.
With daily payouts they will happen every day (rather than eg once a week) after the 7 business day holding period. So if you had a sale on the 25th Nov, another on the 26th Nov and a third on 27th Nov you would get a pay out on 4th Dec, then another on the 5th Dec and a third on 6th Dec. If you were set it to weekly deposits on Mondays then you would get a payout for the sale on the 25th Nov on 4th Dec but the payout for the sales on 26th Nov and 27th Nov would be held until the next Monday after they had cleared so 11th Dec.
Never tried the app.
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Thanks Sasha - I now get the process of the 7 days which essentially means any payout will be paid the week after payment. I have no issue with the service I received from the staff but 7 days seems a long time.
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At least at the end of the wait we get less commission deducted than payments via Paypal. Every little helps!
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I have been with Stripe for about 3 years now, when you get to a certain level (cannot remember what this is of good payments, you have the option to get same day payments they take slightly more commission but sometimes its worth it.
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Happy to wait the 7 days now I know thatās what it is - although it does seem the same old story of cheques taking forever to clear in the past. Money moves in seconds nowadays - I can understand holding for a couple of days in case if refunds, queries etc - I did a refund on this particular payment. Hey-ho! 
I think most payment processors normal take 3 days to pass payment along to you, when I first started using them back in 2008, American Express, Streamline (now Worldpay) and most banks had these payment terms, only PayPal could you move your money whenever you liked. I moved to iZettle about 5 years ago, and then it was 3 days, plus you have to factor into the time your bank takes to process the trans action, they stil donāt seem able to process anything over the weekend, which is ridiculous as itās all automatic, same over Bank Holidays!
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in this day and age I donāt understand why Stripe takes so long to deposit your money. Do you hold onto items till you have the payment in your bank or do you send items straightaway? thanks
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You need to send within what ever your handling times are, so if 2 days, send within 2 days. If the payment is showing up in your Stripe account, then payment has been made, so no reason not to send. When you pay with a card at a local shop, they will have to wait get the money from the card processor, but they still let you take the goods 
EDIT::: I forgotten I have replied before further 
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I think both Stripe and PP start off releasing money at around 7 days if you are a new seller. Stripe have recently reduced ours to 3 and I think PP is about the same! But I agree re them holding money - accepting Steveās point re bricks and mortar shops. But when hubbie does the grocery shopping and pays by card the money is out of our bank before he gets home!
I canāt remember ever having funds held by Paypal, the money has always been available straight away to move into my bank account or spend.
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PayPal is instant, always has been.
If you want a card payment processor that doesnāt hold your money, sign up to Square. You can do instant transfers to your bank account at any time for a small fee, or you can set up an automatic daily deposit which transfers the entire balance to your bank account each day and there is no charge for that.
We had difficulties with PP when we first opened our Folksy shop in 2020. But it does come through ok now.
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Unless I misunderstood your comment, I think @cornishbeadedcraft are referring to sales they make on Folksy when a card machine is not valid. We use Zettle - run by PP - for processing payments at markets - and those payments are always made within a couple of days.
@cornishbeadedcraft - hello to a fellow Cornish crafter. I went to take a look at your shop but itās empty.