Stripe Connect Setup Guide
Connect your Stripe account to receive payouts automatically when participants register for your events. Fast setup, automatic transfers, and secure payments.
How Long Do Payouts & Refunds Take?
Stripe notes that payouts to U.S. bank accounts typically arrive in about two business days once your account is fully verified, and some regions may see 3–7 business days depending on banking networks. When you issue a refund, Stripe transmits the funds immediately, but card networks quote 5–10 business days for the customer's bank to post the credit. You can share Stripe's official guidance with organizers here: payout timing and refund timing.
Important: Fees Are Non-Refundable
Stripe does not return their 2.9% + $0.30 processing fee on refunds, and Covaera’s platform fee is also non-refundable (see Terms §6.2). When a refund is issued the attendee receives the original payment minus those fees, and the organizer’s payout is reversed accordingly. Always communicate this to participants so expectations are clear before you process a return.
Reference: Platform Terms – Fees
What is Stripe Connect?
Automatic Payouts
Receive payments automatically when participants register. Funds are transferred directly to your bank account on a regular schedule.
- • Daily or weekly payouts
- • Direct to your bank account
- • No manual processing needed
Secure & Trusted
Stripe is the industry-leading payment processor trusted by millions of businesses worldwide with bank-level security.
- • PCI DSS Level 1 certified
- • Encrypted transactions
- • Fraud protection included
Complete Transparency
View all transactions, payouts, and fees in your Stripe Dashboard. Export reports for accounting and tax purposes.
- • Real-time transaction tracking
- • Detailed payout reports
- • CSV exports for accounting
Getting Started with Stripe Connect
Step 1: Access Dashboard
Navigate to Your Dashboard
Start by going to your organizer dashboard where you'll find the Stripe Connect setup button.
Log in to your organizer account at covaera.com
Click on your profile icon and select "Dashboard" from the menu
You'll see a banner at the top prompting you to connect your Stripe account
Step 2: Start Onboarding
Click "Connect with Stripe"
Begin the secure Stripe Connect onboarding process. You'll be redirected to Stripe's website to complete setup.
What happens next:
Step 3: Provide Information
Complete Stripe Onboarding Form
Stripe will ask for information to verify your identity and set up payouts. This is required by law to prevent fraud.
Personal Information
- • Full legal name
- • Date of birth
- • SSN (last 4 digits)
- • Home address
Business Information
- • Business type (Individual)
- • Business location
- • Business website (optional)
- • Product description
Step 4: Add Bank Account
Connect Your Bank Account
Provide your bank account information so Stripe can send your payouts. This is where all event revenue will be deposited.
Required Banking Details
9-digit bank routing number (found on checks or bank website)
Full bank account number (checking or savings account)
Name on the bank account (must match your legal name)
Stripe will make two small deposits (under $1) to verify your bank account. Check your account in 1-2 business days and confirm the amounts in your Stripe Dashboard.
Step 5: Verify & Activate
Complete Verification
Stripe will verify your information and activate your account. This usually happens instantly, but may take 1-2 business days.
Account Status Indicators
You can accept payments from event registrations
Funds will be transferred to your bank account automatically
All required information has been provided to Stripe
Understanding Fees & Payouts
How Payments Work
Important: Covaera does NOT hold your event revenue. When a participant registers for your event, the payment is automatically split at the transaction level by Stripe:
Stripe keeps their processing fees (2.9% + $0.30)
Covaera receives platform fees (if applicable) to support the service
Remaining funds go directly to YOUR Stripe account for automatic payout
The benefit: Your money never sits with Covaera. Funds are instantly transferred to your Stripe account and paid out to your bank on Stripe's standard schedule (every 2 business days). You have complete control and visibility through your Stripe Dashboard.
Complete Fee Structure
All fees include both Stripe payment processing and platform fees bundled together. Transparent, competitive pricing with no hidden charges.
🎟️Event Registration Fees (4-Tier Structure)
Industry-standard competitive pricing. All fees include Stripe processing (2.9% + $0.30) and platform fees bundled together.
Entry-level pricing for lower-cost registrations.
Most common range for standard event registrations.
Mid-tier pricing for premium events and multi-day races.
Best value for high-end events, ultra-marathons, and premium races.
Free Events: No fees charged for free registrations ($0.00)
👕Merchandise & Add-ons
6.5%Flat percentage for event merchandise, t-shirts, and optional add-ons. Includes all processing fees.
💝Donations
2.9% + $0.30No platform fee for donations! Only Stripe processing fees apply. 100% of remaining funds go to your cause.
Platform Fee Exemptions
Some organizers qualify for platform fee exemptions and only pay Stripe processing fees (2.9% + $0.30).Exemptions are granted at Covaera's discretion for nonprofit organizations, large events, or strategic partnerships. Contact support to inquire about exemption eligibility.
Payout Schedule
Learn when and how you'll receive funds from event registrations.
Payouts are sent automatically every 2 business days after the transaction
First payout may take 7-10 days while Stripe verifies your account
Once initiated, transfers typically appear in your account within 1-2 business days
Multiple transactions within the same period are combined into a single payout
Available for eligible accounts - receive funds in minutes for a small fee (0.5%)
Managing Your Stripe Account
Viewing Connection Status
Check your Stripe connection status anytime from your dashboard.
Accessing Stripe Dashboard
View detailed transaction history, payouts, and reports directly in Stripe.
Updating Information
Change your bank account, personal details, or business information.
Disconnecting Account
If needed, you can disconnect and reconnect your Stripe account.
Important Notes
✅ You CAN:
- • Update bank account information
- • Change payout schedule
- • View all historical transactions
- • Download tax documents (1099-K)
- • Disconnect and reconnect anytime
❌ You CANNOT:
- • Manually initiate payouts
- • Change Stripe processing fees
- • Process payments without verification
- • Receive payouts to someone else's account
- • Bypass identity verification
Troubleshooting Common Issues
Issue: "Verification Incomplete" or "Action Required"
Your account needs additional information or verification.
- • Click "Manage Account" to open your Stripe Dashboard
- • Look for a banner or notification indicating what's needed
- • Provide the requested information (often ID verification or bank confirmation)
- • Check your email for messages from Stripe with specific instructions
- • Allow 1-2 business days for verification to complete
Issue: Payouts Disabled or Delayed
Funds are not transferring to your bank account.
- • Verify bank account information is correct (routing & account number)
- • Confirm micro-deposits from Stripe (check your bank statement)
- • Ensure your Stripe account has "Payouts Enabled" status
- • Check if additional verification documents are required
- • Contact Stripe support if payouts remain disabled after verification
Issue: Cannot Complete Connection
Error when trying to connect Stripe account.
- • Clear browser cache and cookies, then try again
- • Try a different browser (Chrome, Firefox, Safari)
- • Disable browser extensions temporarily (especially ad blockers)
- • Ensure you're using a supported country (US, Canada, UK, EU, Australia, etc.)
- • Check if you already have a Stripe account - you may need to use that email
- • Contact Covaera support if the issue persists
Issue: Expected Payout Hasn't Arrived
You're expecting a payout but haven't received it yet.
- • Check Stripe Dashboard → Payouts section for payout status and timing
- • Allow 2 business days from transaction date + 1-2 days for bank transfer
- • Verify the payout was sent (status should show "Paid" in Stripe)
- • Check your bank account - deposits may appear under "Stripe Payments"
- • Ensure payout amount meets minimum threshold ($1 minimum)
- • Contact your bank if Stripe shows "Paid" but funds haven't appeared after 3 days
Issue: Tax Forms and 1099-K
Questions about tax reporting and 1099-K forms.
- • Stripe will send you a 1099-K if you process over $600 in a year (new IRS threshold)
- • Forms are available in your Stripe Dashboard under Documents by January 31st
- • You are responsible for reporting all income, even if below the 1099-K threshold
- • Download transaction history from Stripe for accurate record keeping
- • Consult a tax professional for specific advice about reporting event income
- • Keep records of all expenses related to your events for tax deductions
Best Practices for Managing Payments
Setup Best Practices
- ✓Connect Stripe BEFORE publishing your first event
- ✓Complete verification immediately to avoid payout delays
- ✓Use a business bank account if running multiple events
- ✓Keep contact information up to date in both Covaera and Stripe
- ✓Save your Stripe login credentials securely
Security Best Practices
- ✓Enable two-factor authentication on your Stripe account
- ✓Never share your Stripe login credentials with anyone
- ✓Review transaction history regularly for unauthorized activity
- ✓Be cautious of phishing emails claiming to be from Stripe
- ✓Report suspicious activity to Stripe support immediately
Financial Management
- ✓Download monthly transaction reports for bookkeeping
- ✓Track gross revenue vs. net revenue (after fees)
- ✓Reconcile Stripe payouts with your bank statements monthly
- ✓Keep records of refunds and their reasons
- ✓Budget for processing fees when setting event prices
Support Resources
- →Stripe Support: support.stripe.com (for account issues)
- →Covaera Support: For connection and integration questions
- →Stripe Dashboard: stripe.com/dashboard (view all activity)
- →Tax Questions: Consult a certified tax professional
- →Bank Issues: Contact your bank's customer service
Requirements Checklist
Before you start, make sure you have the following information ready:
📋 Personal Information
🏦 Banking Information
🏢 Business Information
✅ Other Requirements
Ready to Get Paid?
Connect your Stripe account now and start receiving automatic payouts when participants register for your events.
Need help? Check our FAQ or contact support.