Key Takeaways
- Stripe is a convenient way to accept business payments digitally.
- However, its settlement-focused approach to payouts may limit your currency exchange options and result in long waiting times.
- At Payset, we aim to make multi-currency withdrawals easier by providing superior FX trading options, fast withdrawal times, and affordable fees.
- Examining both options will help you decide what’s right for you.
Stripe is a popular payment acceptance platform. Whether your business operates online or in person, it’s an easy way to manage incoming funds.
When it comes time to move money out of your Stripe merchant account, you’ll need to make use of its payout process. This can be challenging, especially if you’re mindful of fees, withdrawal times, and other complications.
It’s possible to withdraw funds with ease, but you should be aware of Stripe’s rules around payouts and other alternatives that may simplify the task.
Stripe’s Payout Options
Stripe offers several ways to perform withdrawals:
- Scheduled payouts to bank accounts daily, weekly, and monthly
- Manual payouts to bank accounts upon request
- Instant payouts to debit cards and bank accounts (within 30 minutes)
Though there are some variations in geographic availability, there are few apparent restrictions for the US, UK, and European countries. Stripe’s payout page provides more details about the general availability of these features.
But are these options enough for most users? Let’s take a closer look.
Challenge #1: Stripe Focuses on Local Currency Payouts
Stripe supports standard bank withdrawals in multiple currencies.
However, there’s a critical rule. Usually, your funds must be sent to a bank in a country where the settlement currency is the official local currency.
In most cases, this means that Stripe will perform withdrawals by paying out the default currency of your home country. If you instead opt for Stripe’s alternative currency options, additional fees and conditions apply.
This approach works well for businesses that primarily serve a local market. But if you work extensively with multiple currencies, it can pose an obstacle.
The Solution
At Payset, we treat withdrawals as standard transactions, allowing you to send funds to most external bank accounts in supported currencies.
This provides broad coverage. We support 34 currencies and provide access to major payment networks, including SWIFT, SEPA, and local networks.
Keep in mind that you may be limited to certain currencies and payment networks depending on your region and account details.
See this page to learn more about our supported currencies.
Challenge #2: Alternative Currency Withdrawals Have Extra Costs
Aside from standard payouts, Stripe allows you to receive payouts in multiple currencies through an alternate method.
Stripe says these alternative payouts avoid exchange fees, but this feature still carries other fees on many currencies. You’ll also need to withdraw funds above a certain amount, sometimes equivalent to hundreds of dollars.
And there’s one more key limitation: for every currency you add, you’ll need to connect a bank account denominated in the same currency. You can’t withdraw multiple currencies to just one bank account.
Again, these settlement and withdrawal rules may pose challenges and high costs if you work with multiple currencies on a regular basis.
The Solution
By choosing Payset, you’ll be able to send funds to your external account with the same options you’d have in any similar transaction.
We can’t guarantee support for every external bank account, but we treat withdrawals and other transactions identically. This gives you maximum choice around currencies, payment networks, and external bank accounts.
Note that your bank may also set its own rules around incoming currencies, supported payment networks, and maximum deposits.
Additionally, you’ll need to pay all applicable conversion and transaction fees, which may be set by both Payset and your bank.
Challenge #3: Stripe Focuses on Settlement, Not Conversion
Stripe applies an exchange rate to applicable transactions, and it advertises a fair rate based on third-party midmarket rates.
However, Stripe’s automatic, settlement-focused approach to conversion means that it does not position itself as a currency exchange platform.
Stripe currently only advertises USD, GBP, and EUR exchange from the dashboard, meaning you’ll need to rely on Stripe’s currency settlement features or its other conversion options if you need funds in a different currency.
Stripe’s limited conversion options may lead some users to seek external conversion tools, adding extra costs to their financial flows.
The Solution
At Payset, we offer a complete FX exchange service to all users, allowing you to instantly convert 38 currency pairs at any time, 24/7.
We aim to perform currency conversion at minimal cost to you. Our real-time conversion rates allow you to confirm your rates prior to conversion, and we show both the interbank rate and our own additional markup.
Our exact rates vary, but with markup as low as 0.1% on some transactions, you can trust that you’ll always receive the lowest rate Payset can offer.
Challenge #4: Long Withdrawal Times
Stripe payouts usually take 2 to 3 business days in addition to the basic transaction processing time, with some variations.
The company notes some users may experience even longer times, including up to 14 days for high-risk businesses. Your region may also affect payout times.
Stripe does offer instant payouts, but this isn’t available in all circumstances. Your Stripe account must have 60 days of transaction processing and meet other eligibility requirements. Plus, your external bank account must support a certain method (such as the Faster Payment Service in the UK or SEPA Instant Payments in the EU), or you must request the instant payout to a supported debit card.
Furthermore, Stripe limits instant payouts to 10 per day and may impose amount limits, which may be less useful for high-volume businesses.
The Solution
With Payset, you’ll be able to withdraw funds by sending a standard transaction to an external bank account, which typically takes 1-3 business days.
We don’t have a dedicated instant payment feature, but we offer efficient options such as SEPA, the UK’s Faster Payments Service (FPS), and more.
Plus, we don’t limit transaction amounts. Note that your bank may set restrictions on incoming deposits distinct from Payset’s policy.
Not sure if this approach is right for you? Get in touch to ask us about how we can meet your needs around fast and high-volume transfers.
Challenge #5: Security Holds
Stripe generally requires documentation checks when you create an account and at other points on an ongoing basis, rather than at payout time.
However, Stripe may place payouts on hold for some services, such as Stripe Connect and Stripe Express. It may pause payouts until you provide tax details and other outstanding information, and it may block payouts in compliance with levies and liens at the request of creditors and governments.
Stripe’s UK user agreement also describes the right to delay payouts beyond the basic payout schedule, so all users should be cautious of extended waits.
The Solution
All reputable payment platforms impose KYC and documentation checks upon registration and during transfers — and Payset is no exception.
However, we try to simplify the verification process. We’ll notify you quickly when you need to provide information, and in some cases, you may be able to provide documentation prior to a transaction to speed up the process.
Once you make a transaction to a particular external account, you’ll rarely need to verify a second time, which should streamline repeat withdrawals.
Learn more about our policy and see our tips for avoiding delays
How Payset Can Help
At Payset, we provide a suite of business-oriented payment services, including:
- Multi-currency IBANs with support for 34 currencies
- Instant foreign exchange with support for 38 currency pairs
- Availability in more than 70 countries worldwide
- Affordable fees — low exchange rates, transfer fees, and account fees
- Straightforward KYC and verification procedures
- Fast withdrawal times and transfer times, usually same day – up to 3x faster
We believe these features offer a strong alternative to Stripe for all digital transactions and cross-border payments, especially when time is of the essence, and affordable withdrawals are a necessity.
And it’s not just for businesses — individual users can also open an account.
Onboard today with no sign-up fees.
Disclaimer: Pricing, features, and details on this page are based on competing websites at the time of writing (November 2025). Details may change over time, vary by region, and do not cover all service options offered by competitors. Users should verify details with competitors. Payset does not endorse or represent any competitor, nor have competitors endorsed the above content. Payset and related parties disclaim liability for any errors or actions taken based on this content. Information is for general purposes only and offered at the user’s own risk.
