How to setup Direct Deposit via Stripe

How to setup Direct Deposit via Stripe

Stripe Connect is a direct deposit payout option that allows you to opt for daily, weekly, or monthly deposits directly to your Stripe account, setup through your BookTix account. If you require your payouts to be specific (i.e. event-based or item-based), you may want to opt for BookTix Payments via Check or ePayment instead.

Getting Set Up with Direct Deposit through Stripe

You must be an Org Admin with full admin privileges to update your Payment Options

1. Login to your BookTix Account

Navigate to your Organization Dashboard (gear icon top right)



On your left menu, click Balances and Payments > Payment System Options 



2. Click Connect with Stripe



Please note: the next steps of account setup in Stripe must be completed by an individual authorized to open a Stripe account for your organization and will require personal identification details, not just organization information. These details are required by law just as if you were opening a new bank account.

3. Stripe Verification via Mobile Phone

Enter your phone number and submit the verification code once you have received it:


 

4. Enter your Business Information

You must enter an EIN or Social Security Number for verification purposes. Once complete, click Continue.



4. Verify Your Personal Details

  

If you are not the business owner, you will be prompted to enter this information:

5. Select Your Bank Account for Payout

On the next page, you will use the search bar to find your bank, and will be prompted to login to your account.
(The below screenshot is a test account and does not display valid banking options and is for reference only)


You will be prompted to agree to Stripe's policy, and connect your bank account.
Optional step: Save your account via Link 

    

Once logged in, select your preferred bank account that you'd like to use for Stripe Direct Deposit payouts, and click Continue:
 

6. Review and Submit Your Information

Review all details for accuracy and submit when ready.

  

If complete, you will see the following message:

If your account requires more information for setup, you will see the following message in your BookTix Payment Options page:


It may be necessary to enter additional information in Stripe Setup to verify your identity, such as an ID. Click the blue Go to Stripe button to continue your verification process. If you've not received this alert, your account should be verified.


Your Stripe Direct Deposit option is now setup and enabled!


Update Your Payout Schedule

Payouts default to Daily, however you can edit this interval at any time.
Please note: Stripe closes daily at midnight UTC so payouts may be based on a different time zone than what your BookTix account is set to. 

1. Click the EDIT icon next to Payout Interval



2. Select your desired Payout Interval

Select your payout interval, and click UPDATE.
Interval Options: 
  1. Daily
  2. Weekly (select day of the week)
  3. Monthly (select day of the month)
  

You're now ready to receive Direct Deposit payout via Stripe!

To Disable and Switch back to Check or Epayment

To switch back to payments by BookTix via Check or Epayment, click the blue button Enable BookTix Payments and Disable Stripe Payment Collection






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