Key Takeaways

  • Choosing the right payout method saves you money on Stripe.
  • Only Brazil and Mexico allow you to open your own Stripe account.
  • Instant Payouts charge 1% of the amount, with a $0.50 minimum.
  • Wallbit gives you a global account to receive Stripe payouts.

If you work for clients abroad, you've probably already heard of Stripe, one of the world's most widely used payment platforms for online billing and checkout. In February 2026, a tender offer valued the company at $159 billion.

How you set up your account and payout method determines how your money arrives and how much it costs you. In this guide, we cover how Stripe works, what payout methods are available, how much each one charges, and how to receive your money in Wallbit without losing cash to fees.

What Is Stripe?

Stripe is a payment platform founded in 2010 in San Francisco by brothers Patrick and John Collison. It enables businesses and professionals to accept online payments, invoice customers, and manage transactions in more than 135 currencies.

In 2025, businesses using Stripe processed $1.9 trillion in payments, a 34% increase over the previous year. Companies such as Amazon, Microsoft, and Uber use Stripe.

How Does Stripe Work for Getting Paid?

Unlike Deel, Stripe is not an employer of record or hiring intermediary. Instead, it is a payment infrastructure that you integrate into your own business, website, or invoicing system. In most cases, this means you need your own Stripe account to accept payments and schedule payouts.

This is where many freelancers in Latin America get confused: you can only open a Stripe account directly if you reside in one of the more than 45 countries supported by the platform. In Latin America, that currently includes only Brazil and Mexico.

If you live in another country, you have three options:

  • Open a U.S. bank account through an app like Wallbit, allowing you to receive payments and make international transfers.
  • Incorporate a business in a supported country, such as the United States, and register your Stripe account under that entity.
  • Receive payments as a connected account (Stripe Connect Express) through a client's platform or marketplace that already uses Stripe. In this case, you don't need your own Stripe account because the platform—not you—processes the payments.

How to Set Up Your Payout Method

If you decide to open your own Stripe account, the process is entirely online and does not require you to have a formally registered company in countries such as the United States. You simply need to provide your personal or business information and verify your identity.

  1. Go to Stripe and select "Get started."
  2. Choose a country supported by Stripe for your account.
  3. Complete your personal or business information and describe your business activity.
  4. Verify your identity using a government-issued ID.
  5. Finally, add your bank account from the Dashboard by going to Settings > Bank accounts and currencies.

If you're receiving payments as a connected account through a platform (Stripe Connect Express), your client or marketplace will send you an invitation by email.

You'll complete your information through that link and choose the bank account where you want to receive your payouts, without creating your own Stripe account or meeting the country eligibility requirements.

What Payout Methods Does Stripe Offer?

Stripe offers several ways to receive your funds, although availability depends on the country where your Stripe account is registered.

  • Standard bank transfer: The default payout method with no additional Stripe fee.
  • Instant Payouts: Sends your money to an eligible debit card or bank account within minutes, including weekends and holidays.
  • Cross-border transfers (Connect): Useful if your bank account is located in a different country than your Stripe account.
  • Global Payouts: A Stripe product designed to send money to third parties, with country-specific fees, including Mexico and Peru.

In most countries, Stripe transfers your available balance according to an automatic payout schedule (daily, weekly, or monthly). Once your account has established a history, you can change the payout frequency from your Dashboard.

How Much Does Stripe Charge Per Payout?

Stripe generally does not charge its own fee for standard bank transfers. Most of its fees come from payment processing and currency conversion rather than payouts.

Stripe Fee Comparison

Method Stripe Fee Processing Time
Standard bank transfer (U.S.) Free 2 to 7 business days
Instant Payouts 1% of the amount (minimum $0.50) Minutes, every day
Domestic card processing 2.9% + $0.30 per transaction Instant to balance
International card processing + approx. 1.5% additional Same as card processing
Currency conversion + 1% (USD accounts) or + 2% (other currencies) At the time of withdrawal
Cross-border transfer (Connect) 1% + $0.30 per transaction 2 to 5 business days
Global Payouts to Mexico 0.25% cross-border fee + flat transfer fee 1 to 2 business days
Global Payouts to Peru 1.25% cross-border fee + flat transfer fee 1 to 2 business days
Withdrawal to Wallbit (ACH/Wire) $0 receiving fee Up to 72 business hours

How Long Does It Take to Receive Your Payment?

Your payout schedule depends on your country and your account history.

In the United States, your first payouts may take up to seven business days. After that, payouts typically arrive within two to four business days. In other countries, Stripe usually sends payouts on a weekly or monthly basis, depending on its risk assessment.

Instant Payouts arrive within minutes, even on weekends and holidays, although they carry an additional 1% fee. Keep in mind that banks generally do not process transfers on weekends, which may add an extra day if your standard payout falls during those periods.

What's the Best App for Receiving Stripe Payments?

For freelancers and independent contractors, the best option is to receive Stripe payouts directly into a U.S. bank account. That's exactly what Wallbit provides: a U.S. global account that allows you to receive Stripe payments with ease.

The process is simple:

  • Download the Wallbit app and open your account.
  • Copy your U.S. banking details.
  • Add them as your external bank account inside Stripe.

Wallbit's Classic plan has no account opening or monthly maintenance fees, and receiving funds via ACH or wire transfer costs $0.

If you receive recurring payments from Stripe—or similar platforms such as Deel, Ontop, or Rippling—through Wallbit, you'll receive a complimentary Pro plan with discounted withdrawal fees and enhanced investment benefits.

With Wallbit, you can 

  • keep your balance in U.S. dollars, 
  • convert it into your local currency only when you need to, 
  • and spend globally with your international Visa card in more than 180 countries.

You'll also have access to an investment account protected by SIPC Excess insurance of up to $75 million, allowing you to invest your funds in U.S. stocks, ETFs, or Treasury bonds instead of leaving your money idle.

The ideal payout method depends on your priorities. Speed, lower costs, and convenience each matter differently. If you're looking for a single account that lets you receive payments, spend, and invest, connecting Wallbit as your Stripe payout destination is one of the most complete solutions available.

Conclusion

Stripe has become one of the most widely used payment platforms for businesses managing payroll and global teams. Although receiving payments through Stripe can be challenging in certain countries, a U.S. global account like the one offered by Wallbit provides an immediate solution for freelancers and contractors earning income through Stripe.