Stripe Dual Account Withholding

Floranext no longer supports Stripe Standard account types, but some shops may have a Stripe Standard account with a Capital loan attached to it. If this applies to you, you may want to use the income from your Floranext website or POS to pay off the loan. 

Stripe's Support team offers a process to connect your new Stripe Account to the Capital loan on your old account. Stripe calls this Dual Account Withholding. Once set up, payments towards the Capital Loan will automatically be withdrawn from your new account. 

Steps to Set up Dual Account Withholding

1. Go to Stripe's Support Page (follow this link).
2. Select Contact Support to start a chat and enter "Dual Account Withholding". This should connect you with a Live Stripe Support Agent. (Make sure you're logged in!)
3. From here, Stripe may ask you to confirm that you want to proceed with the process. 
4. Once confirmed, they will ask for your Old Stripe Account ID and your New Stripe Account ID. If you aren't sure what your IDs are please check with Floranext's Merchant Services team. They can point you to the right IDs.
5. Important Note: Your new account and old account's Stripe business information should match. If there are differences Stripe will have to escalate the update to their Capital Team which may add a couple of days to the process. 

FAQ

1. Q: How long should this process take? A: This may take from 3-5 business days, but please confirm with Stripe Support for a more accurate ETA. 
2. Q: Do I have to use my new account while my old account is still paying off my capital loan? A: 
   • If you have previously used your Stripe Standard account with Floranext, we will typically wait to turn on your new account until this process is complete. 
   • If your old Stripe Standard account is not connected to Floranext, we are unable to connect it so you will have to use your new one.