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Important creator withdrawal system update: How to connect to Stripe and receive your funds! #newfeatures

 

Just a quick related update that the ability to set a minimum support threshold is live in your Settings area:

https://www.evernote.com/shard/s3/sh/3e1b4885-c3ac-4bea-a49b-09f267d9a6d6/c1dfdc2e3cf35caf4143581084269470/deep/0/Recurrency---Settings---(Private-Browsing).png

Also a note about payment schedules once you connect Stripe: any new incoming gifts will push through to you right away. For those of you who have been accruing gifts already, we're going to be pushing the "back balance" through as a one-time transfer in the coming days. The proverbial "last call" for this will be on May 1 when we clear out all of the remaining funds from the pre-monthly era so we can "close the books" on the weekly gifts that were given -- there are some TL;DR regulatory reasons we can't "sit on" the money indefinitely (and some TL;DR pedantic reasons i need to "scare quotes" so frequently) and of course we would love to avoid any scenario in which we have to refund gifts back to supporters (i.e. please let us know if you aren't able to connect Stripe or won't be able to by May 1 for whatever reason).

Thanks everyone!! <3

 

Hey all -- couple of important updates, one of which is "action required" if you'll indulge us in a rare spot of semi-urgent requesting:

  1. We've shifted from weekly to monthly gifting cycles. By default, the gift form suggests a $4/month donation (on par with what used to be the weekly equivalent) -- but the new actual minimum is $1/month. Coming in a future update you'll have the ability to set your own minimum threshold for monthly support -- and we also plan to add a formalized rewards / tiering system as well wherein you could set multiple levels and thresholds of giving for different levels of access. Have spoken with some of you about this already -- but if anyone has follow-up thoughts or anyone else has ideas, wishlists, or requests -- by all means let us know (feel free to weigh in on this thread or start a clean one as the spirit moves you).
  2. Withdrawal system: We've settled on Stripe as our payment provider of record on both ends, which gives us (and you) a number of benefits including "continuous payday" and international support in 18 countries (enabling international supports to donate to you, and international creators to withdraw without miles of tax and regulatory hurdles). I'm linking to a PDF (in Dropbox) of instructions below about how to connect your Recurrency account to the Stripe system to set up automagic transfers to your bank account -- there is some urgency around making this connection in a timely manner so I'm asking for a few moments of your time this week si vous plait. This should only take a few minutes, and if you run into problems please don't hesitate to reach out (either here in groups.io, or shoot us an email at creators-team@...). Thanks folks!!

How to connect to Stripe:

https://www.dropbox.com/s/9pi4vwz4xt10vws/How%20to%20connect%20to%20Stripe%20and%20receive%20payments%20from%20Recurrency.pdf?dl=0