Migrating Stripe Accounts
Migration Steps
Violet supports migrating the Stripe account where you receive your payouts to enable your changing business needs.
Begin a Migration
To begin a migration navigate to channel.violet.io/settings/payouts and select the option to Migrate to a different Stripe account for payouts.
Selecting new Account
You will be asked to confirm the migration after which you will be redirected to Stripe. Depending on the account type you are migrating to, you can follow detailed instructions on how to setup the migration here.
Completing your Migration
After you have completed the steps on Stripe, you will be redirected back to Violet and you will see your Active account as well as the new account that is pending. If everything looks acceptable you can click Migrate to complete the migration and begin receiving payouts to the new account.
Until you have clicked the Migrate button, your migration remains “In Progress” and all payouts will continue to be processed against the original account.
Afterward
Once your migration is complete, you will see previous, deactivated account(s) listed below the newly active account. This new active account will be used for payouts moving forward.
Canceling a Migration
At any moment before you have clicked the Migrate button, you can cancel the migration using the Cancel button. This will remove the link to the new account and continue using the original account for all payouts as if no migration had been started.
Refunds and Migrations
Funds transferred as part of an order are tied to a particular account. Therefore, if a refund comes through for an order that was paid out to account that you have since migrated away from, Violet will still attempt to reverse the transfer of funds from that old, migrated account. This is only applicable inside the remorse period of orders placed while the old account was the active account, so it should only come into play within the 30 days after migrating accounts, if at all, since Violet’s default remorse period is 30 days.
Migrating to the same account type
In some cases it may be desirable to migrate to an account with the same type (i.e. Express -> Express).
If you need to initiate a migration to an account of the same type, please contact Violet.
Change of Ownership
A particular case for a same type migration is due to a change in ownership of the merchant or channel, requiring funds to be deposited in a new, separate bank account.
In this particular case, it’s important to remember that the same refunds considerations apply as usual.
Also payment history and disbursement records for past transactions will continue to point to the old account which the new owner will not have access to. New transactions will of course point to the new account.
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