Now, more than ever, having full transparency and access to your revenue is key to the success of sharing the arts.
ShowTix4U has partnered with Stripe, our payment processor, to offer DAILY, WEEKLY, or MONTHLY electronic deposits of your revenue direct to your bank account by leveraging new, secure payment technology. You can even deposit your event revenue and donations into two separate bank accounts, if needed! All of this built into the ShowTix4U pricing.
At the end of each day, after your customers payments are processed on Stripe, revenue is transferred to your Stripe Connect account all without touching any third-party bank accounts. This means you have full access, transparency, and control of when and where the funds are transferred. ShowTix4U doesn't have access to any of your banking information.
When can I sign up?
Soon! You will be able to sign-up directly in your ShowTix4U account for electronic deposit with your organization contact and banking information.
How does it work?
This new innovative payment flow will get your revenue to you faster than ever before:
(Effective Jan 1st, 2021)
- Signup in your ShowTix4U account for Electronic Deposit. Onboarding is done securely through the Stripe platform on ShowTix4U.
- At the end of each day, your events will batch and an individual transfer of 95% of your balance will be deposited into your Stripe Connect Account for which you have full access through ShowTix4U. The remaining 5% is held in your ShowTix4U Reserve so you can continue to process refunds and we can assist with any chargebacks. This allows you to keep managing your events for up to 60 days after closing at which time the 5% reserve is transferred to your account.
- At the same time, your net donations will be transferred into your Stripe Connect Account.
- You determine how often (daily, weekly, or monthly) you would like your total balance (all event and donation transfers) to be deposited into your bank account.
- New Event History Reports give you a high level overview of all your events, transfers, and balances.
- The new Donation Report gives you detailed info about your donations.
If you are unable to use Electronic Deposit, and would rather have hard checks sent upon the closing of your event, please click here for information on hard checks.