To set up your Stripe Express account for instant payouts from a company, you need to: create a Stripe Express account, verify your identity, add a debit card eligible for Instant Payouts, and ensure the company you're working with has enabled Instant Payouts for their connected accounts; you may need to contact the company to confirm their Instant Payout capabilities and eligibility for your account.
Key steps:
- Sign up for a Stripe account and choose the "Express" option to create a connected account under the company's Stripe platform.
- Provide necessary documentation to verify your identity with Stripe.
- Access your Stripe dashboard and add a debit card that is supported for Instant Payouts.
- Contact the company you're working with to confirm if they have enabled Instant Payouts for their connected accounts and if you are eligible.
Important points to consider:
- Eligibility: Not all debit cards or bank accounts are eligible for Instant Payouts, so check with Stripe to confirm compatibility.
- Daily limits: Companies may have daily limits on Instant Payout amounts, so check with them about payout restrictions.
- Fees: Instant Payouts may incur a small fee depending on the company's setup.
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