How Stripe Transfers Work

Stripe is the online payment processor that enables cloud-based card payments through Bbot such as Apple Pay and Google Pay. When connecting Stripe to your bank account through Bbot's Owner Panel, you set up a Stripe Connect Express account that maintains a small bank account for you. Bbot transfers money into this account as soon as the funds are available, and then funds are paid out to your bank account via ACH transfer based on your payout schedule. 

The amount of time between the initial transaction and funds reaching your bank account is usually between 4-6 business days. 

Each night, Bbot's accounting system processes credit card charges and batches them into transfers based on when the card charges will clear. The Accounting & Transfers Report shows the components of each transfer, as well as the scheduled date. 

The 'Transfer Date' listed on the Accounting & Transfers report is when the credit card charges will clear and Bbot transfers funds to your Stripe account. This is typically 2-3 business days from the initial transaction, depending on the card. Most U.S. cards take 2 business days and most European cards take 3 business days. Our accounting software automatically pushes available funds to your Stripe account as soon as they are available, so because charges from different cards on the same day of business may clear on different days, restaurants will sometimes see two separate transfers for that single day of business

After the funds clear, Stripe automatically triggers a payout via ACH transfer from your Stripe account to your connected external bank account. The ACH payouts only happen on weekdays and they include all available funds. So, even without a single day's revenue being split, some ACH payouts will always include multiple days of sales (e.g. Saturday and Sunday's revenue typically gets transferred on the same weekday).

By default Stripe executes daily payouts, but they can be changed to weekly (choose a day, Monday - Friday) or monthly (chose a date, 1st - 31st) if desired via a support request to Bbot. Most banks take 2-3 business days to process an ACH transfer.

Technical Details: Tracking the flow of funds

If you're interested, here's how you can see funds traveling through the system at each step.

Customer Card → Bbot Stripe account → Restaurant Stripe account → Restaurant Bank Account

1) Card charge made

The instant that a guest makes a purchase, the funds appear on the Sales by Category report, as well as the other sale & tip reports (available on the Reports page of the Bbot owner portal).

2) Stripe transfer planned

Every night (roughly 4 am local time), the Bbot accounting system adds up the day's credits & debits, and schedules Stripe transfers from Bbot to the restaurant Stripe account (that is, the restaurant's account within Stripe, not the external bank account). These Stripe transfers are scheduled to happen on the date when the credit card charges will clear. These future Stripe transfers, as well as past Stripe transfers, are visible on the Accounting and Transfers report discussed above. Note that the Accounting Report doesn't show transfers until they're planned by the night's accounting batch. This is in contrast to the Sales by Category report, which shows sales instantly.

3) Stripe transfer executed

On the transfer date (the day card charges clear), Bbot executes a Stripe transfer to the restaurant Stripe account. At that point, the funds are visible as part of the available balance on the restaurant's Stripe Dashboard. 

You can view your Stripe dashboard from the Bbot Owner Portal's left menu -> Account Settings -> Connect Stripe -> View/Edit Dashboard.   

In the Stripe dashboard, you can see your current Stripe account's balance. The balance is money that has been transferred in from Bbot and will be paid out in the next daily ACH payout. It does not include planned future transfers.

4) External Payout initiated

Each day, the available balance of the restaurant's Stripe account is sent, via ACH, to the restaurant's external bank account. (This is called a "Payout" in Stripe. Note that it's different from the within-Stripe "Transfers" discussed above.) These daily ACH Payouts are also shown on the Stripe Dashboard, under Recent Payouts. The ACH Payouts are handled automatically by Stripe and do not appear on the Bbot reports. If desired, Stripe accounts can be configured to do Payouts weekly or monthly rather than daily. This can sometimes help reduce the accounting workload. To modify that setting, contact Bbot support.

5) External Payout complete

After Stripe makes an ACH payout, the funds will appear in the restaurant's external bank account as an incoming ACH transfer. The time for an ACH transfer to appear depends on the bank but is typically 2-3 business days.

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