When you set up a photo contest fundraiser with us, we'll have you create a merchant account with our payment processor, Stripe (https://stripe.com/).
- Why do I need to set up an account with Stripe?
- How does it work?
- Where can I find information about payouts from Stripe?
- How can I change the frequency of my payouts?
- How can I change the bank account associated with my Stripe account?
- What if I'm having issues with my Stripe account?
Why do I need to set up an account with Stripe?
An account with Stripe allows all of the donations to your contest to be processed right at your contest site. Participants can use almost any kind of credit or debit card:
- U.S. businesses can accept Visa, MasterCard, American Express, JCB, Discover, and Diners Club.
- Australian, Canadian, and European businesses can accept Visa, MasterCard, and American Express.
You can also accept gift and prepaid cards that are one of the above types.
How does it work?
The donations that are processed at your contest site are deposited directly into your Stripe account, minus our contest transaction fees and credit card processing fees (more info here).
These deposits are then bundled and deposited into the bank account that you provided to Stripe on a rolling basis. This means that you will have access to the funds that your contest raises almost immediately.
Please note: There may be a waiting period of up to 7 business days for the first payout.
You can read more about how this process works right at this link: https://support.stripe.com/topics/payouts
Where can I find information about payouts from Stripe?
First, you will need to log into your Stripe account (https://dashboard.stripe.com/login)
Then, navigate to Balances at the top of the dashboard.
Or, navigate to this link: https://dashboard.stripe.com/balance/overview
How can I change the frequency of my payouts?
Head right to this link: Payout Settings
How can I change the bank account associated with my Stripe account?
Head right to this link: Bank accounts