Overview
A financial account is required to receive payouts from Polar. We support Stripe Connect accounts, which handle the infrastructure for receiving payments worldwide.
Account Types
Polar currently supports Stripe Connect accounts as the payment processor. Stripe handles:
- Payment processing
- Currency conversion
- Bank transfers
- Compliance requirements
Setting Up Your Account
Initial Setup
- Navigate to your organization’s finance settings
- Click “Create Account” or “Connect Stripe Account”
- Select your account country from the supported countries
- Complete the Stripe onboarding process
Account Statuses
Your account will progress through several statuses:
- Created: Account record created, onboarding not started
- Onboarding Started: Stripe onboarding flow initiated
- Under Review: Account submitted and being reviewed (see Account Reviews)
- Active: Account fully operational and can receive payouts
- Denied: Account rejected during review
Your account must be in Active status with payouts enabled before you can receive funds.
Account Capabilities
Your Stripe account has three key capabilities that determine what you can do:
Details Submitted
Indicates whether you’ve completed the required onboarding information.
Charges Enabled
When enabled, your account can accept payments from customers.
Payouts Enabled
When enabled, funds can be transferred to your bank account. This requires:
- Completed onboarding
- Verified identity
- Connected bank account
- Active account status
Account Administration
Account Admin
Each financial account has a designated admin who:
- Owns the Stripe account
- Must have verified identity with Stripe
- Can access the Stripe Express dashboard
- Is responsible for compliance
Changing the Admin
The Stripe account must be deleted before changing the admin. This is required for compliance.
- Delete the existing Stripe connection
- Assign the new admin (must be an organization member)
- New admin must have verified identity status
- Reconnect a new Stripe account
Multi-Organization Accounts
A single financial account can be linked to multiple organizations, allowing you to:
- Consolidate payouts across organizations
- Simplify financial management
- Reduce administrative overhead
For reverse invoicing (when Polar invoices you for platform fees), configure:
- Billing Name: Legal entity name
- Billing Address: Complete business address
- Additional Info: Tax ID or other required information
- Billing Notes: Optional notes for invoices
Stripe Express Dashboard
Access your Stripe Express dashboard to:
- View transaction history
- Update bank account details
- Manage business information
- Review payout schedules
- Download Stripe reports
Click “Open Stripe Dashboard” from your account settings to generate a secure login link.
Account Deletion
Deleting your Stripe account:
- Removes Stripe account connection
- Clears all Stripe-related data
- Disables charges and payouts
- Archives the account record
- Allows reconnecting a new account
Deleting your Stripe account is permanent and cannot be undone. Ensure all pending payouts are processed first.
Disconnecting vs Deleting
Disconnect
- Breaks the link to Stripe
- Preserves historical data
- Allows reconnecting the same account
- Account remains in Polar’s system
Delete
- Permanently removes Stripe account
- Deletes account from Stripe’s system
- Cannot be reconnected
- Use when starting fresh
Security
- Account access controlled by organization membership
- Admin actions require authentication
- Stripe handles PCI compliance
- All financial data encrypted at rest and in transit
Next Steps