Stripe will increase Instant Payouts' fees by 50% in the US from June 1, 2024

Stripe, the renowned payment platform, has made an announcement regarding an upcoming change in its fee structure. From June 1, 2024, the fee for Instant Payouts within the US will be increased from the current 1% to 1.5% per payout. This service allows Stripe users to immediately access their funds and transfer them to their bank account or debit card.

However, those who wish to bypass the 50% increased fee have the option to use Stripe's standard payout schedule at no cost. This process typically takes approximately two business days.

The new fee adjustment will be applicable to all Stripe direct accounts and standard connected accounts. The changes will be automatically implemented for all businesses and/or connected accounts starting June 1, 2024.