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Understanding Stripe payouts
Learn how Stripe payouts work, including payout timing, public holiday impacts, and customer refund fees.

About Stripe

Stripe is the secure payment gateway used by Cookaborough to process payments.

It’s trusted by millions of businesses worldwide, and using it allows you to receive payments directly into your bank account.

 

Every Cook needs their own Stripe account to get paid. Setting up your account only takes a few minutes and is done through your Cookaborough settings. Once set up, you’ll be able to manage transactions, track your balance, and receive automatic weekly payouts.

 

Understanding Stripe payouts

Customer payments are deposited directly into your Stripe account and remain there until your payout day.

 

On your payout day, Stripe automatically transfers funds from your Stripe account to your nominated bank account.

 

Stripe fees and charges for weekly payouts are all included as part of the commission you pay to Cookaborough.

 

Payout timing

The default payout day is Friday, but this can be customised. We suggest setting the payout day for 2 days after your weekly menu finishes. This will help with reconciliation.

 

Funds take 2 full business days to clear. For example, if your payout day is Friday, payments made on Wednesday or Thursday will not be included in Friday’s payout.

 

Public holidays

Public holidays will impact your payout. For example, if there is a Monday holiday and your payment day is Wednesday, your payout won't include payments received for Saturday, Sunday or Monday, due to the requirement of 2 full business days for funds to clear.


Manual payouts

A manual payment to your bank can be activated outside of your selected payout day. Manual payouts can help if you need quicker access to your available funds.

 

Customer refunds

When a customer refund is processed, Stripe does not return the original transaction fees.

To cover these costs, Cookaborough retains 2% of the refunded amount. The remaining portion of Cookaborough’s commission is returned to you. Refunds usually clear within five business days, although they often clear sooner.

Additional Information

Need more information? Contact Cookaborough Support:
✉️ [email protected]

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