Setting up Multiple Stripe Merchant Accounts

Article contents

• Create sub-accounts under one Stripe email login
• Connect Stripe account from another owner
• Assign merchant sub-account to Properties
• Disable a Stripe account

NOTE:

• Multiple Stripe merchant accounts can be linked in MyVR. This gives customers the flexibility to direct deposits to different bank accounts based on the property.
• To set up your first account, follow these steps

Create sub-accounts under one Stripe email login

NOTE: 

• This process allows for multiple deposit bank accounts under one Stripe email login
• To create multiple deposit bank accounts under different Stripe email logins, follow steps to activate a Stripe merchant account

**NOTE: Next step in Stripe platform**

Step 1: Follow Stripe’s instructions for how to create another deposit bank account within the original Stripe account. 

**NOTE: Next steps in MyVR platform**

Step 2: Navigate to Setup > Booking & Payments > Merchant Accounts

Step 3: Click Add Stripe Account

Step 4: Create Stripe sub-account name, click Connect Stripe

**NOTE: Next step in Stripe platform**

Step 5: Follow Stripe’s instructions to switch accounts in your Stripe dashboard

**Next step in MyVR platform**

Step 6: Confirm Activation

• Once the application is completed in Stripe, you will be automatically redirected back to MyVR.
• Status “Approved” and a green check under Active mean that the account is ready to begin taking payments from renters through MyVR.

Step 7: Confirm default account

To change the default account, click Action > Set Default to any other Active account

Connect Stripe account from another owner

Step 1: Have the owner follow Stripe’s instructions to add you as an administrator to their account.

Step 2: Follow steps 2-7 above to complete merchant account setup.

Assign merchant sub-account to Properties

-- Part 1: Create new booking policy --

Step 1: Navigate to Settings > Booking & Payments > Booking Policies

Step 2: Click Add a New Policy for the new merchant account

Step 3: Under Merchant Account, select the new account from the dropdown list. Click Create Policy

-- Part 2: Assign new booking policy to Property --

Step 4: Navigate to Properties > Properties > [Property Name]

Step 5: Under the property, navigate to Settings > Bookings & Payments

Step 6: Select new booking policy from the dropdown list, click Save Settings

Disable a Stripe account

• A Stripe account cannot be completely deleted, but it can be disabled if no longer used.

Step 1: click Actions > Disable

Step 2: Update any booking policies associated with the disabled account to include an active merchant account.

Additional Resources

Stripe overview