The time it takes for funds to reach your business bank account depends on two separate factors:
Transaction Payout Speed
How long Stripe takes to clear and release each payment so that it becomes available for payout.Payout Schedule
How often the funds that are already available are actually sent to your bank account.
1VALET uses Stripe as our payment facilitator for all resident payments. Understanding the difference between payout speed and payout schedule will help you more accurately anticipate when funds will arrive.
1. Transaction Payout Speed (How long each payment takes to become available)
Each payment type has its own processing timeline. A payment must fully clear before it becomes available to be included in a payout.
Card Payments
The payout speed for card transactions depends on the country of your Stripe account:
Canadian Stripe Accounts:
Standard payout speed is 7 calendar days from the transaction date.
In some cases, Stripe may offer a shorter 3-day payout speed, but this is determined solely by Stripe as part of their risk evaluation during your onboarding.U.S. Stripe Accounts:
Card payments typically become available in 2–3 business days.
ACH Payments (U.S. only)
ACH payments can take up to 4 business days to clear.
Stripe’s cut-off time is 7:00 PM EST. Payments made after that may begin processing the next business day.
PAD Payments (Canada only)
PAD payments can take up to 5 business days to clear.
Stripe does not specify a cut-off time for PAD transactions.
During this processing period, your payment will appear in the Payments section of the 1CONNECT Portal with a status of “Pending.” Once the funds clear and move into your building’s 1VALET payment account, the status updates to “Paid.”
2. Payout Schedule (How often available funds are sent to your bank)
Your payout schedule controls how frequently Stripe sends available funds to your bank account. This does not speed up how quickly payments become available.
1VALET offers the following payout schedules:
Daily Automatic: Payouts sent every day.
Weekly Automatic: Choose any day of the week for payouts.
Monthly Automatic: Choose a specific day of the month for payouts.
The default setting during onboarding is Daily Automatic.
If you’d like to change your payout schedule, contact us at support@1valet.com.
Bank Processing Times
Once Stripe initiates a payout, banks may take 1–2 business days to deposit the funds into your account. Weekends and bank holidays may extend this timing. Stripe also schedules payouts a few days in advance to ensure they arrive on your chosen payout day.
Summary
Transaction payout speed determines when each payment becomes available.
This depends on payment type, country, and Stripe’s risk review.Payout schedule determines how often available funds are actually paid out to you.
Daily payouts do not mean same-day availability for every payment
Understanding both factors will help you accurately predict when money from resident payments will reach your business bank account.
For more information please contact us at support@1valet.com.