Let's Get You Paid! Setting Up Stripe Connect 💰
Okay, this is the part where we make sure money can actually flow into your bank account. I know dealing with payment stuff can feel intimidating, but I promise it's not as scary as it seems. Think of Stripe as your friendly robot accountant who handles all the money stuff so you don't have to.
Ready? Let's turn you into a money-making machine! (Legally and ethically, of course 😉)
Why Stripe? (The Quick Version)
Stripe is like the Swiss Army knife of payments. Here's why we love them:
- ✅ Money goes straight to YOUR bank (not through us)
- ✅ They handle all the security stuff (so you don't have to worry)
- ✅ Works with pretty much any currency your customers use
- ✅ Your customers get instant access when they pay (no waiting!)
- ✅ They can even calculate taxes for you (mind-blown, right?)
What You'll Need (Gather This Stuff First)
Before we dive in, let's make sure you have everything handy. It's like cooking - way easier when you have all your ingredients ready!
Your Checklist:
- 🏦 Your bank account details (routing and account numbers)
- 🆔 Your tax ID (Social Security Number if you're in the US, or your business tax ID)
- 🏠 Your address (where you actually live or where your business is registered)
- 📱 Your phone number (they'll text you a code)
- 🆔 A photo of your driver's license or passport
- 🌐 Your website URL (if you have one - not required but helpful)
Missing something? Don't panic! You can save your progress and come back later.
Let's Do This! Starting Your Setup
Alright, here we go. Take a deep breath, grab a coffee (or tea, we don't judge), and let's get this done!
- Head to WORKSPACE → Settings → Payments
- See that big beautiful "Connect with Stripe" button? Click it!
- You'll be whisked away to Stripe's setup wizard (don't worry, you can always come back to Selgora)
The Stripe Setup Dance (It's Easy, I Promise!)
First Question: Are You a Business or Individual?
No wrong answer here!
- Individual: Perfect if you're a coach, consultant, or creator operating under your own name
- Company: Choose this if you have an LLC, corporation, or other registered business
Not sure? If you don't have business registration papers, you're probably an individual. You can always upgrade to a business account later!
Tell Them Who You Are
Stripe needs to know you're a real person (not a robot trying to take over the world):
- Your legal name: Use the exact name on your bank account (super important!)
- Birthday: They promise not to send you a cake
- Address: Where you live or where your business is located
- Phone number: They'll text you a code to verify it's really you
The Banking Part (Where the Money Goes!)
This is where you tell Stripe where to send all that sweet, sweet revenue:
- Routing number: Those 9 digits at the bottom of your checks
- Account number: Your specific account digits
- Account type: Checking or savings (checking is more common for business)
What happens next? Stripe will deposit two tiny amounts (like $0.12 and $0.07) into your account. When you see them (usually 2-3 days), come back and enter the amounts to confirm your account. It's like a secret handshake, but with pennies!
Let's Talk Money - Who Gets What?
Okay, real talk about fees. We keep things simple and transparent:
The 90/10 Split (You Win!)
Here's how it works - you keep 90%, we take 10%. That's it. No surprises, no hidden fees, no "gotchas."
| When someone pays... | You get | We get |
|---|---|---|
| $100 | $90 💰 | $10 |
| $500 | $450 💰💰 | $50 |
| $1,000 | $900 💰💰💰 | $100 |
Small print alert: Stripe also takes their standard processing fee (2.9% + 30¢) - that's just the cost of accepting cards online. Every platform has this, not just us!
Why 10%? Because we handle all the tech stuff, hosting, updates, and support so you can focus on creating and selling. Fair deal? We think so!
Payment Processing Flow
- Customer Purchase: Member buys on your landing page
- Payment Processing: Stripe processes the transaction
- Instant Access: Member gets immediate access (invisible paywall)
- Fee Deduction: 10% platform fee automatically deducted
- Your Account: 90% credited to your Stripe account
- Payout Schedule: Funds transferred based on your schedule
- Bank Deposit: Money arrives in your bank account
Managing Subscriptions
Subscription Lifecycle
- Active: Payment successful, full access granted
- Past Due: Payment failed, retry in progress
- Canceled: Member canceled, access until period end
- Expired: Subscription ended, access removed
Automatic Features
- Renewal processing on schedule
- Failed payment retry (up to 4 attempts)
- Dunning emails for expiring cards
- Automatic access updates via webhooks
Tax Configuration (Optional)
Enabling Stripe Tax
- Navigate to payment settings
- Enable "Collect taxes automatically"
- Configure tax registrations
- Set product tax codes
- Test with preview calculations
Business Purchases
- Enable tax ID collection at checkout
- Automatic VAT validation (EU)
- B2B exemptions applied automatically
- Invoices generated with tax details
Test Drive Time! 🏎️
Before you start selling to real people, let's make sure everything works. Stripe gives us some magic credit card numbers for testing:
Your Test Cards (They're Free!)
| Use this number... | To test... |
|---|---|
4242 4242 4242 4242 |
✅ Successful payment (the happy path!) |
4000 0000 0000 0002 |
❌ Card declined (to see what happens) |
4000 0000 0000 3220 |
🔐 3D Secure (extra security check) |
Pro tip: Use any future expiry date (like 12/34) and any 3 digits for the CVC (like 123). Name? Make one up! Address? Use your real one or make that up too. It's just for testing!
Go ahead, buy your own product with the test card. It's fun to see the whole flow work, and you won't be charged a penny!
"Help! Something's Not Working!" 🆘
Don't panic! Here are the most common hiccups and how to fix them:
"It's been 2 days and I'm still not verified!"
First, check your email (including spam folder) - Stripe might be asking for something. Usually they need: - A clearer photo of your ID - Proof of your business address (utility bill works) - More info about what you're selling Log into Stripe directly at stripe.com to see if there are any alerts. Most verifications complete in 24-48 hours, but sometimes they need a little extra info.
"I can't find those tiny deposits in my bank account"
They show up as "STRIPE VERIFY" or sometimes just "STRIPE" - usually $0.01 to $0.99. Check: - Did you wait 2-3 business days? (Weekends don't count) - Are you looking at the right account? - Try searching your bank transactions for "STRIPE" Still can't find them? You can request Stripe to send them again.
"Stripe says my account is restricted"
This sounds scarier than it is! Usually it means: - They need more info about your business - Your business type needs extra verification - You're in a country with specific requirements Check your email from Stripe - they're really good about explaining exactly what they need. It's usually fixable in a day or two.
"Payments aren't showing up in my Selgora dashboard"
If Stripe shows the payment but Selgora doesn't: 1. Go to WORKSPACE → Settings → Webhooks 2. Make sure the webhook is "Active" (green) 3. If it shows "Failed," click "Retry" Still stuck? Reach out to support - this is usually a quick fix!
Security Best Practices
- Enable two-factor authentication on your Stripe account
- Never share your Stripe secret keys
- Regularly review payout reports
- Set up payout notifications
- Monitor for unusual activity
- Keep your bank information updated