All Boatsetter payouts are completed via direct deposit powered by Stripe.
Setting up direct deposit
You must complete the following steps before you can receive payout:
From your owner dashboard:
Add your bank account information via payout preferences
Fill out the tax form via tax forms
Send a clear, color picture of your photo ID to Boatsetter support at email@example.com. Validating your identity is required by the IRS to receive payment.
The payout timeline
Payments are processed 2-3 business days after the booking concludes and will be deposited directly into the bank account you provide. Trips on weekends or holidays may take longer to process. You will be notified via email once your payout has been processed. Your bank may take up to 24 hours to review the payment before crediting your account.
Payout processing fees
All payouts will deduct Stripe’s processing fee from the total amount. Stripe deducts $0.25 for commission payouts. For post booking fees, like fuel and damages, the current processing fee is 2.7% + $0.55 per transaction.