Welcome to our detailed guide on handling payments efficiently after completing transactions on ShareGrid, whether you're renting out equipment or finalizing a sale.
IMPORTANT: This article explains how to receive payments AFTER you have already linked a checking account or debit card in your account settings under the account "Payout" tab. For a step-by-step guide on adding a checking account or debit card for payouts, please refer to the article subtitled "How to Set Up Payouts: Link Your Checking Account or Debit Card."
Step-by-Step Guide to Receiving Payouts After Linking Your Checking Account or Debit Card
For Rentals:
1. Marking the Transaction Complete as a Rental Owner:
After your rental is returned, access your message inbox on ShareGrid by clicking the 'mail icon' and selecting the rental confirmation page.
While on the rental page, click 'Complete Rental' to initiate the payout process. This step is crucial as it triggers the transfer of funds.*
Please make sure all equipment is returned in good working order before marking the transaction complete to avoid delays.
*Note: If an owner does not mark the rental as complete, our system will automatically mark the rental as complete within two to three days of the rental ending.
2. Transfer to Stripe:
Funds are transferred to your Stripe account within 3 business days after the rental is marked complete.
You can check the transfer status on the rental confirmation page.
For New Stripe Accounts:
The first payout might take up to 7 business days. This delay is part of Stripe's risk mitigation measures and cannot be expedited by ShareGrid.
For Sales:
1. During the Transaction:
Stripe securely holds payments during the shipment and the 48-hour post-delivery review period.
Funds are automatically released to your Stripe account after the review period.
2. Stripe to Your Bank Account:
Standard Processing:
For established Stripe Express accounts, payouts generally take 1-2 business days to reach your bank account after Stripe initiates the payout at the end of the business day.
For New Stripe Accounts:
The first payout might take up to 7 business days. This delay is part of Stripe's risk mitigation measures and cannot be expedited by ShareGrid.
Monitoring Your Payouts:
To view your payouts and monitor your earnings, navigate to 'Settings' > 'Payout' > 'View Payouts' in your ShareGrid account.
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Need Help?
If you have any questions or need assistance, please don't hesitate to contact ShareGrid's support team.