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What is Stripe and why do I need it?
Stripe.com is one the leading and most trusted payment gateways. We use Stripe to process payments and send money to you for your trips.
All Trip Organizers are required to connect a Stripe account before publishing a trip to ensure payments can be accurately tracked and processed. Stripe also provides support with dispute management to ensure you are protected from chargebacks.
Did you know? You don't need an EIN to have a Stripe account. This means if you're just getting started in the biz, you can create and link a Stripe account using your personal information and SSN. More details can be found on their site.
How to connect Stripe to your account in SquadTrip
When it is time to Publish your trip, you will be prompted to 'Connect to Stripe'.
If you already have a Stripe account, log in with your username and password.
If you do not have a Stripe account, instead of clicking the 'Connect' button, click 'Create a new account' directly below it. You will then be prompted to create an account.
Please be sure to follow through with instructions and add your bank account, setup automatic payment transfers, and add your business information (SSN or EIN) to ensure that the account is verified.
Tip: If you don’t have a business, you can use your own name as the business name. For the business website, you can enter your personal website or link to your Instagram account if you don’t have a business website.
Product Description example:
We're dedicated to curating unforgettable family vacations that cater to every member of your clan.
Industry Example:
Software
Account Name example:
Darrien’s Trips
Statement Descriptor:
Darrien’s Trips
Customer Support Phone:
Your personal number
FREQUENTLY ASKED QUESTIONS
How does it work?
When you have connected your own Stripe account, all funds collected on SquadTrip go into your Stripe account. SquadTrip has no visibility or access into your Stripe account or your payout schedule with Stripe. Payouts to your bank account are done directly by Stripe.
What will my users see on their credit card statements?
Your users will see the first 22 characters of the trip name on their card or bank statement. This has proven to be the best way to minimize complaints from customers about unrecognized credit card charges.
When will I receive my funds?
Stripe usually transfers funds automatically into your bank account. Every day, Stripe transfers the money that you charged two days prior. For example, every Wednesday, you'll receive the funds in your bank account that were charged on Monday. Please note that Stripe reserves the right to change this schedule at any point. Learn more about Stripe in their FAQ here.
I have an issue with Stripe. Can SquadTrip help?
SquadTrip is not involved in the payment processing. The payment processing is completely governed by your agreements with Stripe. We can neither assist, advise nor influence Stripe's handling of your account.
What fees are associated with Stripe?
Stripe charges a processing fee however SquadTrip bundles the fee at 5% in total, meaning we pay Stripe your fee. Whatever is advertised is the total fee for payments processed on U.S. debit cards and credit cards. Additional fees apply for international credit cards and pay-later solutions.
Stripe is about to pause my payouts, what should I do?
Stripe typically pauses payouts because your account requires an update. To remediate, you can log in to your account and provide the necessary information by clicking on this link: https://dashboard.stripe.com/account/status and then following instructions on your screen.
Failure to provide the information will result in your payment processing account being shut down.
