How does the "escrow-like" system work?

Created by Kat Marchán, Modified on Sun, 31 Mar 2024 at 02:16 PM by Kat Marchán

The payment processing system in Banchan has a lot of flexibility, but the default experience is:

  1. Artist invoices client either before, during, or after work
  2. Client deposits the amount for the invoice. This money goes to a Banchan-managed internal account for the artist.
  3. When the commission is complete, the artist requests a final review and, if approved, all funds deposited will be released to the artist and the money can be paid out. No money can be paid out until it's been approved by the client.

But there's a lot flexibility to this system: artists can include attachments/images with invoices that are only revealed after payment is processed. Artists can also request that clients release funds before final approval, but it's still up to the client to determine whether they trust the artist enough to do it, and so it's discouraged unless the funds are needed ASAP.

Payouts are done manually by artists in bulk through a dedicated payouts page, and take a couple of days to arrive in their bank accounts/debit cards. The first payout will take about 7 days, and subsequent payouts only 2-3. Instant payouts (same-day) may be implemented in the future, for an extra charge (since Stripe charges extra for these).

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