As all refunds to customers will be processed through Stripe, it is good to keep money in your stripe account for at least 7 days to ensure you have money available to process refunds if necessary. Where possible we would ask Sellers to change to manual payouts and this way, you control when the money is transferred from Stripe to your bank account.
How to change to Manual Payouts
- Log into Stripe
- From your dashbaord click on balances.
- Select Manual Payouts from the drop down menu.
In order for you to receive funds, Stripe (or your platform) makes payouts to your bank account.
Payout availability depends on a number of factors such as the industry and country you’re operating in, and the risks involved. When you start processing live payments from your customers with Stripe, you won’t receive your first payout until 7–14 days after receiving your first successful payment. The first payout usually takes a little longer in order to establish the Stripe account. Processing subsequent payouts then happens according to your account’s payout schedule.
For more information on Stripe Payouts please go to Receiving payouts (stripe.com)