Set up Express Banking

Without a paid CommuniBee subscription, your community’s online payment collection is facilitated exclusively through Express Banking via Stripe Connect. This service ensures secure transactions directly into your bank account.

Access your CommuniBee dashboard  and navigate to the Banking tab found under Community Setup. From here, you can select the payment provider you wish to use. If you aren’t subscribed, Express Banking will be selected by default.

To proceed, click Setup Provider. You will be required to fill out a few details to get started:

  • Email
  • Mobile Phone number
  • Verification Code that is texted to your phone
  • Country
  • Type of Business:
    • Individual or Sole Proprietorship
    • Company
    • Nonprofit Organization

The process changes slightly depending on what type of business you choose and what country you are in, so the examples that follow may not exactly match your scenario but will give an idea of the types of things you will need to have ready.

Payouts and Reconciliation

CommuniBee’s platform fee and Stripe’s payment processing fee are taken off each transaction immediately.

Payments are held in your Stripe Account for 7 days and then paid out directly to your connected bank account. After the 7-day holding period, payouts will then be processed daily. From your Banking tab, you can view payout details such as the amount Available Soon, Next Payout, and Total Paid to Date. For a more detailed overview, access your Stripe Connect dashboard by clicking on View Account.

Note: CommuniBee does not collect or store any credit card information. All payment details are handled through Stripe which is a PCI-compliant payment provider.

Statement Descriptor

When setting up your Stripe Connect account, you will have the ability to enter a Statement Descriptor. For those who make purchases throughout your community, this description will appear on their credit card statement.

To reduce the chance of purchasers disputing charges, make sure your Statement Descriptor explains where the charge came from (for example, use the name of your community as the Statement Descriptor).

Additional Information

Onboarding your express banking account requires collecting certain information for each account (which Stripe verifies). As part of the Know Your Customer (KYC) obligations, Stripe is required to verify the information provided during onboarding. If Stripe is unable to verify the account information, they will request additional information from you. 

Closely monitor your email and Stripe dashboard for any additional verification required by Stripe. For more information on what documents Stripe can accept for verification of identity, address, and legal entity, please visit Stripe’s Acceptable Verification Documents.

If you are a corporation, registered charity, or non profit in Canada, you will be required to verify business and directors’ information in order to accept payments and receive payouts.