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That sucks. They were the only people in the payments industry that could (or would) do same-day transfers to your bank account. The best Stripe will do is a
by downandout 12y ago
That sucks. They were the only people in the payments industry that could (or would) do same-day transfers to your bank account. The best Stripe will do is a 2 day rolling schedule.
- tomasien 12y agoStripe does that now too which may have contributed to this.
- downandout 12y agoHow do you get that to happen? There is nothing in the docs about it.
- vampirechicken 12y agoProbably by becoming a highly-trusted, low-risk customer. Payment balance float is all about holding some money in reserve in case of chargebacks. The better your stats are, the less money a processor will insist on holding in reserve.
- downandout 12y agoBalanced did it by default.
- vampirechicken 12y agoI'm not familiar with the volume of data that balance collected at signup. But I am familiar with the volume of info in the PCI's "Know Your Customer" initiative. I i'm going to speculate wildly that balanced got to know their customers during onboarding, rather than waiting until after they started processing payments. Additionally, I think that a company's level of trust with their customers involves some 'coefficient of risk' regarding potential losses to chargebacks against a low or non-existent reserve. I find the topic interesting, especially the consequences at a federal level if you guess wrong and the "customer" turns out to be laundering money.
- nandemo 12y agoUnless you're a large operation that can benefit from the float, it's hard to see how that makes a significant difference.