After I create a Stripe account, how will I receive entry fee revenues?
When creating a Stripe account, the user will be required to connect the Stripe account to a bank account (either personal or business). Therefore, every time a player signs up for a tournament, the entry fee revenue is deposited into the user's Stripe account. Depending on the settings of the Stripe account, the balance will either be automatically transferred to the connected bank account on a daily, weekly, or monthly. There is also an option for manual transfers from the Stripe account to the connected bank account.
Therefore, once a transaction has occurred, the money is automatically deposited into the tournament director's Stripe account. The available balance in the Stripe account will be transferred directly to the tournament director's connected bank account in accordance with the schedule that was selected by the tournament director.
Please note that when initially created, the Stripe account is defaulted to transfer funds to the connected bank account at the end of each business day. If you would like to change the transfer schedule from daily to weekly, monthly, or manually, the tournament director will need to login to his or her Stripe account and change the transfer schedule in the settings.