I’m thinking of developing a buyer and seller site using stripe connect. I read that when a seller signs up to the site a connected account Id needs to be generated and stored in the database. But how does the connected account link with the sellers bank account?
I have read the docs but can’t understand how the seller will get paid from the buyer?
>Solution :
Stripe Connect has concepts of "platform" and "connected account". You can think of the platform as the marketplace and the connected accounts as the sellers.
After the platform creates a connected account, they have the connected account go through onboarding. It’s during onboarding that the connected account shares payment information that can be used to send them money (payouts).
How and when funds are moved to the connected account (and are available for payout) depends on the charge type you use. Direct charges mean that funds will land in the connected account’s balance, whereas destination and separate charges & transfers will route funds to the platform first.