You can receive funds from your event registration sales through Corsizio if you enable online payments and connect your bank account via Stripe. Corsizio uses Stripe, which is a leading online credit card processing service to securely facilitate all online credit card payments.
Once you open your Corsizio account, go to Payment Settings and follow the instructions to connect Stripe to your bank account. During the process you will be guided to provide the bank account that you want your payments deposited into and the business name (statement descriptor) that will show up on your customer’s credit card statements. This setup process creates for you a free Stripe account; if you already have one, you then just connect through your existing Stripe account, unless you want another Stripe account.
Your First Payout
To receive funds for payments you’ve processed, Stripe makes deposits (payouts) of your available account balance into your bank account. This account balance is comprised of different types of transactions (e.g., payments, refunds, etc.).
Once you start processing with Stripe, your first payout is made 7-10 days after your first successful payment is received. Subsequent payouts are then processed according to your account’s payout schedule. This allows Stripe to mitigate some of the risks inherent in providing credit services.
We know that your resources are valuable and having quick access to your money is a top priority. Therefore unlike many other services, which hold the funds in escrow accounts until the event date or other later date, Stripe will transfer your funds to your bank account on a 2 to 7 business day rolling basis, depending on your country.
- 2-day rolling basis applies to: Australia, United States (except businesses in higher-risk industries)
- 4-day rolling basis applies to: New Zealand
- 7-day rolling basis applies to: All countries except Japan, and high-risk businesses in Australia or United States
This means that you can have money coming in as regularly as students register, as it is your money after all. If you want less frequent or more structured payouts, you can change your payout frequency by editing your payout schedule from within your Stripe dashboard.
Please see Stripe’s payment documentation for more information regarding payouts.