All Boatsetter payouts are completed via direct deposit powered by Stripe. As a captain, the renter will either pay you directly at the start of the rental or the renter will pay Boatsetter and we will direct deposit funds to you. Your payout will reflect as $0 on the website if the renter is responsible for paying the captain fee in person.
Setting up direct deposit
You must complete the following steps before you can receive payout:
- Add your bank account information
- Go to: Captain dashboard > Payout preferences
- Add your tax information
- Go to: Captain dashboard > 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 and Stripe 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. Weekend and holiday trips 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.