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Stripe for products with 2-3 week lead time

Nvp

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Mar 7, 2022
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Hi all

First post here.

I run an LTD business in the UK manufacturing furniture. All items are made to order and advertised with a 2-3 week lead/delivery time. AOV is approximately £899. Manufacturing only actually takes a week but it takes longer to schedule deliveries in an efficient manner as we cover the whole of the UK. We deliver all items ourselves and obtain a signed proof of delivery by way of a delivery note triplicate.

Does anyone have any experience with accepting online payments via Stripe with a setup like this? How long until the money drops into the bank account? We currently accept payment via bank transfer but need a payment processor to expand our online presence.

We are obviously happy to subsidise a week or two worth of sales and material costs but waiting 3 weeks until each item is delivered manually isn’t attractive to me at all. Will they ask for POD on each sale? A friend told me they always restrict your account after the first few sales and ask for images of your items you are selling and proof of delivery etc but as they will be asking for proof of delivery of items not delivered yet will I have to wait weeks to complete the process? I am happy for a reserve to be put in place until they trust me and my business, but the material costs of manufacturing mean I would like the money as quickly as possible.

TL;DR My products have a 2-3 week lead/delivery time. How quickly will stripe release the money? Rolling reserve?
 
Stripe have 3 days payout time usually, and 14 days for high risk businesses. I assume they might see your business as high risk because you have very high ticket items at a very slow delivery time.

Hows your online presence? Is your customers happy on ie TrustPilot?
Thanks for your reply.

What specifically makes this a high risk business, is it the ticket price or the delivery time or both?

We only started gathering TP reviews two weeks ago, all 5* so far.

I can temporarily reduce the lead time as shown on site and speed up my delivery process if it will reduce the time it takes for them to send the money but probably only down to 14 days anyway. I would prefer to just keep it as it is and hope they go easy on me because even 14 days is a bit of a pain in the backside for me.
 

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