Under what circumstances could I have a negative balance in my Stripe account?
When a session is refunded to a client the refund is normally deducted from your Stripe balance before it becomes available to transfer to your bank account so this normally does not result in negative balances.
Stripe balances can take 7 or so days to be ready to transfer to your bank account do normally this is enough time to handle refunds efficiently.
In circumstances where the payment was made by the client more than 7 days ago and you have no other funds in your Stripe account your balance may end up being negative.
What does having a negative balance mean?
A negative balance means that Stripe has paid you more than you are due and you effectively owe Stripe the balance shown.
Note that a negative balance is not a debt to Harley Therapy Platform Ltd and is a debt between the therapist and Stripe directly as Stripe have refunded the payment on the therapist's behalf.
In such a case Stripe will deduct the balance from any funds you receive in future before sending you any future payouts.
If you are expecting future sessions to be paid you can safely leave things alone and wait for the balance to clear itself.
I'm not expecting any future payments, how do I clear my negative balance?
To clear a negative balance in Stripe when future payments are not expected you must follow the procedure below:
1/ Create a payment:
Send payment from your bank account to the Stripe bank account for the amount of the negative balance:
Sort Code: 200000
Account number: 73969509
Account Name: Stripe Payments UK limited
Bank Name: Barclays Bank PLC
2/ Send payment information to Stripe
Once you have made the payment, send a screenshot or a scanned copy of the payment advice in an email to [email protected] from the email you have registered in your Stripe account.
Ensure you state that you have sent the payment to clear the negative balance on your account and include a screenshot or other scanned copy of the payment you have made.
3/ Await confirmation from Stripe support
Stripe will confirm receipt of the funds and update your Stripe account to reflect those funds. They may need up to 24-48 hours to totally confirm receipt.
When the process is complete, you'll see the sent funds displayed as a normal payout in your Stripe dashboard.