To receive funds for payments you’ve processed, Stripe makes deposits (payouts) of your available balance into your bank account.
Once you start processing with Stripe, your first payout is made 7-10 days after your first successful payment is received. Subsequent payouts are then processed according to your Stripe account's Payout Schedule. This allows Stripe to mitigate some of the risks inherent in providing credit services.
By default, MassageBook Businesses that are connected with Stripe are placed on a 2-day rolling schedule. This means that payouts of your available balance are made daily and contain payments processed two business days prior (this is how long it takes for your pending account balance to become available on this schedule). For example, payments received on a Tuesday are paid out by Thursday, and payments received on a Friday are paid out by Tuesday.
If Stripe deems your Business as high risk, the 2-day schedule may not be immediately available. Stripe requires a short period to monitor your Business activity before it can be enabled, in which case a 7-day rolling schedule would apply instead. This delay protects your Business, Clients, Stripe, and MassageBook from the increased risk of fraudulent activity.
On the 7-day schedule, payouts are made daily and contain payments processed seven calendar days prior. For example, payments received on a Tuesday are paid out by the following Tuesday.
If you would prefer to receive payouts on a fixed schedule, you can choose to have them sent either weekly or monthly in your Stripe account. When selecting a weekly schedule, you can specify the day of the week that payments should arrive in your bank account. For a monthly schedule, you can specify the day of the month. Payouts scheduled between 29-31st of the month are sent on the last day of shorter months.
Selecting either a weekly or monthly schedule does not change how long it takes for your pending balance to become available. If your account was previously operating on a 2-day rolling schedule, it still takes two business days for your pending balance to become available. For instance, if a Stripe account changes from 2-day rolling to weekly on Fridays, the available balance includes payments made in the last week before Wednesday.
To view and update your Payout Schedule:
- Sign in to your Stripe account to open your Dashboard.
- Select Home.
- Select Balance to expand the menu.
- Select Settings.
- Under Payout Schedule, select the day dropdown menu.
- Select your preferred fixed schedule:
- If weekly, select week > day of week.
- If monthly, select month > date of month.
- Select Save to apply your changes.