Once logged in to your account, in the upper right corner click Account > Payout Preferences > Add Account (pictured below).
From there, you will be prompted to include information we're required to collect for the government. This information includes the name on the account, account type (checking, savings), account number, routing number, your billing address for all payment related communications and birthday. Once you have entered all the above information, click “Save” in the bottom right corner. You can edit your bank account settings anytime.
You will also need to fill out the Tax Form. You can find this option on the same screen as above, at the bottom of the options, listed as "Tax Forms".
Payments are processed 24-48 hours after the end of the rental period and will be deposited directly into the bank account you provide via Stripe. When we release a payout, you will receive an automated email confirming that the payout was successful. Once the transfer is released, your bank normally takes 24 hours to review the payment before crediting the account. Remember, all refunds or payment adjustments take 5-10 business days to reflect in the listed bank account.
Be sure to check with Boatsetter that your payment account with Stripe is in good standing. After your first rental, you MUST fill out your tax information and send a picture of your ID to email@example.com to verify your identity on the payment account. If these requirements are not fulfilled, payments may be halted on the account or the account may be closed by Stripe.
Remember: Boatsetter takes 35% for Geico Marine insurance and 15% for self-insured boats. See the service fees article for more information.