Overview
1CONNECT uses Stripe to securely process payments made by residents (such as rent, amenity bookings, store orders, and events). When a resident completes a transaction, funds are first deposited into your Stripe balance. Stripe then transfers those funds to your business bank account based on your payout schedule.
This article explains:
What a payout schedule is
Why you may want to change it
How to update it in Stripe
Note: You must have the proper payment management privileges to update payout settings. If you do not see the "Manage Payments" button on the top left of the Payments tab in the 1CONNECT Portal, it means you do not have the proper permissions to edit your payment settings. Please reach out to your staff admin to make changes to the permissions on your account if necessary.
What Is a Payout Schedule?
A payout schedule tells Stripe how often it transfers funds from your Stripe balance into your connected business bank account.
You can choose from:
Daily payouts — Funds are transferred every business day
Weekly payouts — Funds are transferred once per week
Monthly payouts — Funds are transferred once per month
All transactions collected through 1CONNECT first go into your Stripe balance and are then paid out to your bank based on this schedule.
Why You Might Want to Change Your Payout Schedule
You may want to update your payout frequency based on how your building manages cash flow:
Common reasons to update your payout schedule:
Improve cash flow: Daily payouts provide faster access to funds.
Simplify accounting: Weekly or monthly payouts reduce the number of deposits you need to track.
Match internal reporting cycles: Align deposits with your accounting periods.
Plan for refunds or disputes: Keeping funds in Stripe longer may help manage reversals/refunds.
Reduce banking complexity: Fewer deposits can make reconciliation easier.
How to Update Your Payout Schedule
You can access your Stripe account in one of two ways:
Option 1: Go Directly to Stripe
Log in here:
https://connect.stripe.com/express_login
Option 2: From the 1CONNECT Web Portal
Go to the Payments tab.
Click Manage Payments.
Select View your Stripe account.
Both options will take you to your Stripe Express dashboard.
Change Your Payout Schedule in Stripe
Once you are logged into Stripe:
Go to the Home tab.
Look at the top-right corner for the Balance section.
Your current payout schedule will be displayed.
Click Update.
Select your preferred frequency:
Daily
Weekly
Monthly
Save your changes.
Your new payout schedule will apply going forward.
If you have any questions or need further clarification, please do not hesitate to contact our Customer Support Team at support@1valet.com.