In many instances, property managers need to funnel payments to different bank accounts. This flexibility is often required when dealing with multiple property owners or managing properties in multiple countries with multiple currencies.
Setting up your Master Stripe account
The first step to this process is to set up your master Stripe account. Once you enable Stripe as your payment processor on Hostfully, all your properties will by default use this Stripe account (for all channels that process payments on Hostfully, like HomeAway-Vrbo, HomeToGo etc).
You can find directions on how to enable your master Stripe account at http://help.hostfully.com/payment-processing/stripe
Connecting multiple Stripe accounts
In order to set up multiple Stripe accounts, head back to the Integrations page, and click the link Settings for multiple Stripe accounts:
Once on the Stripe management page, click on the Connect button for the property to which you want to associate a different Stripe account:
You will be taken to the Stripe login page and required to log into the Stripe account you want to connect to this property:
- If this is an existing account, Stripe will automatically connect the account and the Hostfully page will refresh to show that the account is connected (see the name of the Stripe account below the property name).
- If this is a new account you're setting up, Stripe will guide you through creation of the account and the account will get connected the same way.
Note: if you want to connect to a sub account of a current Stripe account, you should log out of Stripe first. Because when turning on the integration, it automatically selects the current account.
Advanced use-case: handling multiple currencies
If the currency you chose for your listing is different from the currency you chose on the Stripe account connected to that property, Stripe will automatically convert the payout to the currency of the Stripe account.
This is a common use case with some of the channels that restrict to have all your listings to be provided in the same currency (like HomeAway-Vrbo, for example).