How to receive direct deposits/automatic payouts

OpenSports
May 18, 2018 · Unlisted

Note: if you have a group in Canada, read here. If you have a group in the USA, read here. For all other groups outside of North America, continue to read this post!

OpenSports has support for collecting payment and sending direct deposits in 23 countries and 13 currencies through Stripe Connect:

Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, UK, USA.

In order to set up your bank account to receive direct deposits, you must connect your OpenSports Account to Stripe Connect (you can tho this through the OpenSports App or Website):

Go to your Group’s Page > Click “Payment” > Click “Link to Bank Account” > You will be re-routed to a secure page that allows you to link your bank account to Stripe Connect so that you can get paid out automatically whenever you host a paid event.

Stripe Connect flow (Web):

Setting up direct deposits is very easy through the OpenSports x Stripe direct deposit system.

Note: For Stripe Connected accounts, ONLY the Group Admins have access to linking payment to a bank account. All paid events created under a Group will go to that Group’s bank account.

Connect your bank account through the OpenSports App:

Stripe Connect flow (App):

Complete the “Link Bank Account” forms in order to activate your account. Note: You will have to select the type of business you are running (i.e., individual vs company vs nonprofit).

If you are an individual, not for profit, or company and need help knowing what information to enter into the Stripe connect form, read our quick guide here.

View your account balance and your next payout:

Payout Frequency — How often will you get paid?

Once you start processing with Stripe, your first payout is made 7–10 days after your first successful payment is received. Subsequent payouts are then processed according to your account’s payout schedule.

You can select to receive payouts on a rolling basis (every day), or in batches once a week or once a month.

Go to your Stripe Dashboard (through the Payments tab of your OpenSports group) to change your payout settings. The default setting is to get paid out on a rolling basis (“Automatic every day”).

Viewing your Account Balance

OpenSports will also generate a monthly report indicating all revenue collected for the period. Email alicia@opensports.net to learn more about this.

From your Group’s page (Web or App), click on the Payment tab > click “View Account Balance”
Here, you can see all of your payouts and how much money you are owed.

For a full guide on collecting payments through OpenSports, read here.

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OpenSports

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Inspiring stories about organizing and playing pick-up/drop-in sports. Create and find games on our amazing app & website 🏀⚽️🏐🎾🏃🏼 https://opensports.net