How to receive direct deposits/automatic payouts
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):
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:
From your group page, tap on the three dots at the top right corner > Tap on “Payment” > Use the Country Selector to select your country > Click “Link to Bank Account” > Fill out all of the fields in the form!
Stripe Connect flow (App):
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?
To receive funds for payments you’ve processed, Stripe makes deposits (payouts) of your available account balance into your bank account.
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.
Viewing your Account Balance
You can view your account balance (all of your payouts and how much money you are owed) through the Payment tab on your OpenSports group page.
OpenSports will also generate a monthly report indicating all revenue collected for the period. Email email@example.com to learn more about this.
For a full guide on collecting payments through OpenSports, read here.