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How does payment work?
How does payment work?

A full rundown on how Stripe process your payments

Engineer avatar
Written by Engineer
Updated over a year ago

At Let's Do This, we use Stripe to process the payments made by entrants to you. If you haven't set up a Stripe account yet, please see our Help Centre article here on how to do so.

In order to receive funds, Stripe makes payouts to the bank account you registered with. Typically, there is a holding period of 3 days once your first payment has been received by LDT. The transfer speed from Stripe to your bank account depends on your agreement with them, and how you have set up your Stripe account; usually, this is around 3 days, but can take up to 7 days.

You can view all of your payouts and the date that they are expected to be received in your bank account in the Stripe dashboard.

By default, your payout schedule is set to daily automatic. However, this can be changed via the Dashboard to weekly automatic, monthly automatic, or manual payouts.

If you choose the latter and turn off automatic payouts in the Dashboard, you must manually send funds to your bank account when they become available in Stripe. You can do this via the Dashboard.

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