Connecting a bank account for online payments
When you choose to accept online payments for event registrations from your attendees, you need to configure your banking information to get the payments sent to your bank account.
In Corsizio, this is done through Stripe, a leading online payment processing service for Internet businesses. We want you to get paid as soon as possible when you receive payments for registrations for your events, and Stripe makes that possible. Payments go directly from Corsizio through Stripe to your bank account. You get to configure your payout schedule with Stripe, and Corsizio never holds your funds in any escrow accounts. You don't need any special merchant bank account, and no other payment gateways are needed.
NOTE — Each Corsizio account can only be connected to a single bank account through Stripe, which means that each Corsizio account can only have one Stripe account connected. Hence, it is not possible to split payments from one Corsizio account between two or more Stripe accounts or bank accounts.
In this article
- How to connect a bank account through Stripe
- Why Corsizio uses Stripe
- When are payments received?
- What are online payment processing fees?
- Why other payment processors are not used
How to connect a bank account through Stripe
The setup to connect your bank account to Stripe is a single step in your Corsizio account, as follows:
- Go to the account Settings and select Payment Settings from the left-side menu.
- You will be presented with a screen that offers you the option to Connect with Stripe, and when you select this option, a form will appear on the screen from Stripe.
NOTE — Be sure to set your account currency first and "Save payment settings". Otherwise, the "Connect with Stripe" option will not be available, as this information is required to set up your Stripe account.
- If you already have a Stripe account, use the log in option to connect your existing Stripe account with Corsizio.
- If you do not have a Stripe account or want to create another one, fill out the form with your business and banking information. Each supported country has a few different requirements, so be sure to select the correct country you are operating in using the country dropdown field on the form first. Then, fill out the rest, which includes the Business Type, Business Address, Legal Name, and Bank Account. This step creates a new Stripe account for you, which you can log into at any time to view your transactions and update your information when needed. Keep in mind that you must provide factually correct and legal information to be approved by Stripe and not have any problems with accepting payments or getting your payouts.
When you have finished this step, you will be sent back to Corsizio fully integrated and ready to accept online payments for your events through Corsizio and straight to your bank account securely.
NOTE — Corsizio encrypts all traffic coming in and out of the platform for the highest level of security and compliance, and no payment card or banking information is ever stored on our servers.
Why Corsizio uses Stripe
Corsizio integrates with Stripe through a simple, single-step process, and your Stripe account provides a detailed overview of all your transactions, including payouts to your bank account and extensive reporting features.
When are payments received?
NOTE — You must log into your Stripe account for anything related to Stripe. This includes analyzing your payment transactions or payouts, checking the status of refunds to your customers, generating reconciliation reports for your transactions, and more.
What are online payment processing fees?
- For specific information about the online payment processing fees based on your country, please see our help doc: Online payment service fees.
- To learn how you may be able to save on these fees, please see our help doc: How to save on online payment service fees.
Why other payment processors are not used
- Stripe is a global company.
- It is free to have a Stripe account; there are no hidden fees.
- There is no need to have or pay for a specific merchant account.
- Your funds are not held in any escrow accounts.
- Stripe deposits your funds directly into your connected bank account on the frequency you set.
- Stripe processes purchases and refunds for you, allowing you to make and receive payments.
- Stripe integrates easily and seamlessly with Corsizio.