Hello all, hope you all are doing well. I am here to demonstrate that how we can create a connected account in stripe. Before going to how let’s talk about why we need a connected account in stripe.
Here is the simple example for the same. When we have a main application (Transport Company) which collect the payment from customer and then distribute the amount to the respective accounts (driver).
We can create account from the stripe portal as well as using API. I will show how we can create from the portal.
Step 1: Go to your Dashboard and click on connect menu. You can find the button for create connected account
Step 2: Once you click it, there will a popup which ask for type of account. Select custom and card payment in capability. Click save and it will create a custom connected account with restricted access.
Step 3: Now, we need to add the information to complete the account process. Click on the edit button to add individual information.
Step 4: Enter the info as show in the below screen shot. We can use any random address for the selected country. After saving the info we need to add bank info.
Step 5: For bank info in test environment we need to just click the add button show below
Step 6: Once all these info is saved it will ask for personal info. Click the edit button
Step 7: Enter the info as shown in the below screen shot. We can use any valid address. For DOB use “01/01/1909” and SSN use 000-00-0000
Step 8: There will be a field for document. For test environment stripe provide test document. Just select “use test” in the pop up as shown in below screen shot
Step 9: Once you save this the account will go under verification and in just few minutes it will be verified and ready to use. The highlighted id in the below screen shot is you connected account number