Moving money out of Financial Accounts for platforms

You can use a number of methods to move funds from a financial account to another account (either an external account or another financial account):

• Originate an OutboundPayment to move money to a third party’s external account or financial account through ACH, wire transfer, or the Stripe network.
• Originate an OutboundTransfer to move money to an external account belonging to the same connected account through ACH or wire transfer or between financial accounts associated with the same connected account.
• Initiate a card transaction through Stripe Issuing to send money using card networks.
• Receive a ReceivedDebit (initiated by the owner of an external account) to pull money from the financial account through ACH.

Money movement with PaymentMethods

Within Stripe, you can save payment method information using a PaymentMethod object. You might use PaymentMethods to save your vendors’ account data so you don’t have to re-enter and collect their information for every payment you make to them.

You can attach PaymentMethods containing bank account information to a customer (for sending money to a third party) or to a Stripe account (for sending money to a company’s own external bank account). In both cases, you create the PaymentMethod using SetupIntent endpoints.

The type of Financial Accounts for platforms requests you make with a PaymentMethod depends on how they’re attached:

• For customer-attached, use PaymentIntent and OutboundPayment requests.
• For account-attached, use InboundTransfer and OutboundTransfer requests.

See Working with SetupIntents, PaymentMethods, and BankAccounts for more information.

Handling returned funds

The destination for OutboundTransfers and OutboundPayments can reject the relative flow. For example, the destination address might not exist and the OutboundTransfer or OutboundPayment fails. This can occur over the ach and us_domestic_wire networks. CreditReversals can also return OutboundPayments over the stripe network. In the case of returned funds, the OutboundTransfer or OutboundPayment transitions to the returned status and Stripe creates a transaction to return the funds to the source financial account. Stripe also triggers a treasury.outbound_transfer.returned or treasury.outbound_payment.returned webhook.

Tracking outbound funds

You might need to track the status of an outbound transaction initiated from a financial account for several reasons. Examples of such situations include a payment that has been sent but not yet received, or a payment that appears to be arriving late. To help you in tracking OutboundTransfers and OutboundPayments, we provide network-specific tracking IDs for you to work with banks to track their status.

Tracking an ACH transaction

If you’re sending funds over ACH rails, we recommend allowing up to 3 business days for the transaction to process per the standard timeline. When the funds reach the network, you can use the ACH trace ID to track the payment status, found in the tracking_details[ach][trace_id] field of the OutboundTransfer or OutboundPayment object. You can share this trace ID with the receiving bank to help identify potential issues.

Tracking a wire transaction

Depending on the destination bank and the time of submission, our bank partner might send domestic wire transfers over either FedWire or CHIPS. If you originate a wire out of a Financial account at Evolve, it’s sent using FedWire. If you originate a wire out of a Financial Account at Fifth Third, it’s sent using CHIPS provided the receiving bank accepts CHIPS and the wire is sent during CHIPS operating hours; otherwise, it’s sent using FedWire.

For wires sent using FedWire transfers, locate the IMAD and OMAD fields in the tracking_details[us_domestic_wire][imad] and tracking_details[us_domestic_wire][omad] fields.

For wires sent using CHIPS, locate the transfer’s System Sequence Number in tracking_details[us_domestic_wire][chips]. You can share these IDs with the receiving bank to track the wire transfer’s status.

The tracking_details field can populate anytime after the transaction is submitted to our partner bank and is no longer cancelable. Stripe also fires the treasury.outbound_payment.tracking_details_updated or treasury.outbound_transfers.tracking_details_updated webhook when there’s an update to the tracking_details field.