What is Stripe Connect?
Stripe Connect is a payment platform designed for marketplaces and platforms like Withlocals. It makes sending and receiving payments worldwide simple and secure. For you, this means faster, more reliable payouts with strong protection of your financial data.
Why Stripe Connect?
- Faster payments: Receive your payouts sooner;
- Full transparency: Always see upcoming payouts in your Stripe dashboard;
- Batched payouts: Instead of receiving a separate payout for each booking, you can group them into daily, weekly, or monthly payments. In some regions, you can even choose to trigger payouts whenever it suits you. This option is rolling out globally soon.
How to Set Up Stripe Connect
Log in to your Withlocals account. Go to Finance Information in the menu. If Stripe is available in your country, you’ll see a “Set up Stripe Connect” button. Click the button and follow the guided steps. It’s quick and straightforward.
Once set up, all future payouts will be processed through Stripe Connect. You’ll be able to instantly see when your payments are scheduled
Configuring Batched Payouts
If batched payouts are supported in your region, you’ll find the option in your finance overview:
Change payout frequency; Click this button to decide how often you’d like payouts: daily, weekly, monthly, or on a specific date.
Customize your preference; Choose the schedule that best fits your financial planning and cash flow.
Bank Account Address for Stripe Connect
When setting up Stripe Connect, it’s important to use the address linked to your bank account, not your personal home address.
Why? Many hosts use (neo)banks based in another country. That’s fine! But Stripe requires:
- The country where your bank is registered
- The official address associated with your bank account
Need Help?
If you have any questions about Stripe Connect or setting up your payouts, reach out to our support team. We’re here to make the transition as smooth as possible and to help you get paid on time, every time.