Currency error while setting up Stripe Connect

Hello!!!

We have clients in Mexico but when they try to configure Stripe in our portal, the system shows
“Stripe does not currently support usd currency with MX country.”

Mexico is a country that has Stripe support so we don’t understand the reason for this success.

Hi,

As far as I know they have different country restrictions for their different products, e.g. regular Stripe (for accepting payments) may be available, but Stripe Connect (for distributing payments to vendors) may not. Please try contacting their support for more details.

You can also try switching currency in WooCommerce to MXN and check if this issue persists, maybe the country is supported but all the payments/payouts should be in MXN.

Hello

We talk directly with Stripe Support and They assure that: “You can have the plataform set in the US, and the connected account in countries that we have coverage”.

Stripe ans Stripe Connect should work in the same countries without additional restrictions.

Based on the above, we request a solution by this situation because our clients in Mexico can´t configure connect accounts since the system shows: "“Stripe does not currently support usd currency with MX country.”

Please ask them if they allow different currencies for the main Stripe Connect account and linked accounts, because in this case the currency conversion should occur somewhere, either on the website or (preferably) during the automatic payout (e.g. your site triggers a payout in USD but Stripe automatically converts it to the connected account balance currency).

Hello

We send you the chat transcription:

(05:01:45 PM) CoachesLoungeClub: Hello

(05:01:45 PM) CoachesLoungeClub: I hace a Connect Stripe Account

(05:01:49 PM) CoachesLoungeClub: I have a Connect Stripe Account

(05:01:59 PM) Felipe: Hi, thank you for reaching Stripe support, my name is Felipe.

(05:02:11 PM) CoachesLoungeClub: Thanks Felipe

(05:02:22 PM) CoachesLoungeClub: I have a MarketPlace

(05:02:39 PM) CoachesLoungeClub: And a Connect Stripe

(05:03:33 PM) CoachesLoungeClub: When the host try connect your accounts with Stripe Connect show “Stripe currently doesn’t support currency usd with country MX”

(05:04:14 PM) Felipe: Can you please share a screenshot with me?

(05:06:11 PM) CoachesLoungeClub: Attachment: prueba1.png (redacted)

(05:06:59 PM) CoachesLoungeClub: Woocommerce is configured with USD

(05:07:39 PM) CoachesLoungeClub: But if my client is located in Mexico shows the message

(05:08:02 PM) Felipe: Let me see what I can find.

(05:08:07 PM) Felipe: Just bear with me for a few minutes (3-5 min) while I look into this please.

(05:08:15 PM) CoachesLoungeClub: Ok

(05:08:22 PM) CoachesLoungeClub: Thanks

(05:13:27 PM) Felipe: Thank you for waiting.

(05:14:02 PM) Felipe: This is a connected account you are trying to create from a platform you already have, correct? Set in Mexico?

(05:15:31 PM) CoachesLoungeClub: The plataform shoud work in any place

(05:16:33 PM) CoachesLoungeClub: My client is in Mexico

(05:17:10 PM) Felipe: You mean the connected account will be set in Mexico, correct?

(05:17:44 PM) CoachesLoungeClub: Correct

(05:18:16 PM) CoachesLoungeClub: But the main account is in EEUU

(05:19:28 PM) CoachesLoungeClub: Sellers connect to the main account by Connect Stripe

(05:19:51 PM) CoachesLoungeClub: To manage your automatic payments

(05:20:08 PM) Felipe: And this will be which type of connected account?

(05:20:16 PM) Felipe: Standart, Express or custom?

(05:21:14 PM) CoachesLoungeClub: Standard

(05:21:14 PM) CoachesLoungeClub:

(05:21:15 PM) CoachesLoungeClub:

(05:21:26 PM) CoachesLoungeClub: I think so

(05:22:52 PM) Felipe: If the acccount is Standard and once it is connected, the merchant or owner of the connected account should be able to create the charges directly from his account.

(05:23:05 PM) Felipe: Once he finishes the verification of the account.

(05:23:34 PM) CoachesLoungeClub: Ok

(05:23:35 PM) Felipe: But we do suggest creating the charges in MXN from his side in this case as well.

(05:24:18 PM) CoachesLoungeClub: But when sending the parameters in the URL, it doesn’t even let me register the account

(05:25:17 PM) Felipe: The issue I’m having here to find what could be the reason is that I do not have access to the platform account.

(05:25:37 PM) CoachesLoungeClub: If we configure the currency in Mexico, it does not allow creating accounts in the US

(05:25:59 PM) Felipe: Correct.

(05:26:21 PM) Felipe: But since you mentioned the connected account would be based in Mexico.

(05:26:32 PM) Felipe: I highly suggest that that is the country of the connected account.

(05:26:53 PM) Felipe: The platform can be set in the US and the connected account based in Mexico.

(05:29:40 PM) CoachesLoungeClub: But if I configure it this way, it will not approve the clients of the USA

(05:30:58 PM) CoachesLoungeClub: Stripe currently doesn’t support currency mxn with country US.

(05:31:14 PM) Felipe: You mean that they won’t be able to pass payments to that account?

(05:31:44 PM) CoachesLoungeClub: Exactly

(05:31:57 PM) CoachesLoungeClub: What can we make in this case?

(05:32:05 PM) Felipe: They should be able to pass payment from the US.

(05:32:32 PM) Felipe: It is possible to pay in USD and the system will make the currency conversion to MXN.

(05:32:47 PM) Felipe: So that the connected account receives the funds in MXN.

(05:33:01 PM) Felipe: But that the end user can pay in USD.

(05:33:08 PM) Felipe: What is not possible to do.

(05:33:31 PM) Felipe: Is for owner of the connected account to get paid to his bank account in USD.

(05:34:07 PM) CoachesLoungeClub: Ok

(05:34:42 PM) CoachesLoungeClub: Can you send the chat copy to my email?

(05:35:34 PM) Felipe: Of course.

(05:35:39 PM) CoachesLoungeClub: Thanks

(05:35:48 PM) Felipe: I will send you a full transcript of this conversation to your email address.

(05:35:53 PM) Felipe: The one you used to login here.

(05:36:00 PM) CoachesLoungeClub: Ok

(05:36:02 PM) Felipe: Is there anything else I can help you with?

(05:36:11 PM) CoachesLoungeClub: A final question

(05:37:08 PM) CoachesLoungeClub: Stripe Connect work in the same countries where Stripe works?

(05:37:29 PM) Felipe: Correct.

(05:37:30 PM) CoachesLoungeClub: Or Stripe Connect have different restrictions?

(05:38:00 PM) Felipe: You can have the platform set in the US, and the connected account in countries that we have coverage.

(05:38:24 PM) CoachesLoungeClub: Ok

(05:38:26 PM) CoachesLoungeClub: Thanks

(05:38:37 PM) CoachesLoungeClub: That was all

(05:38:39 PM) Felipe: My pleasure. It was nice chatting with you, I will email you this chat now for future references and you’re free to reply to this email if something else comes up. Thanks for using Stripe. Please, take care of yourself and I hope you enjoy the rest of your day!

(05:38:49 PM) CoachesLoungeClub: Thanks

(05:38:55 PM) CoachesLoungeClub: Great day

Thanks for the transcript. I guess they misunderstood the issue (also please note that HivePress creates Express accounts via Stripe API). The main question is that can the main Stripe Connect account be in US, and the connected one in Mexico, and can they both have their Stripe balance in USD? Based on the error message, Stripe forbids to set USD balance for the express account based in Mexico.

That’s ok, then the main question is - if the parent Stripe Connect account has balance in USD, and the linked Stripe express account has balance in MXN, should the website convert currency when triggering a transfer via API or the currency conversion will occur automatically on the express Stripe account side?

Please route these 2 questions to Stripe support, if there’s an issue on the HivePress side and currency conversion prior to the transfer is required and Stripe doesn’t do this automatically we’ll have to add some conversion tools to the next HivePress Marketplace update.

Hello

We send you the chat transcription by the Strippe Support:

Chat started: 2022-10-19 20:45:37 UTC
(08:45:37 PM) CoachesLoungeClub : Hello
(08:47:42 PM) Richard : Hello!
(08:47:48 PM) Richard : Thank you for contacting Stripe support! My name is Richard and it will be my pleasure to assist you. How can I help you today?
(08:48:52 PM) CoachesLoungeClub : Richard, We have a website with Market Place
(08:49:13 PM) CoachesLoungeClub : We use Stripe Connect with Express Type Accounts
(08:49:36 PM) CoachesLoungeClub : The main question is that can the main Stripe Connect account be in US, and the connected one in Mexico, and can they both have their Stripe balance in USD?
(08:51:12 PM) Richard : Thanks for sharing your concerns with me! Just to make sure I’m getting everything correctly, I understand that you’d like to know if a connected account in Mexico can receive payments in USD, right?
(08:51:54 PM) CoachesLoungeClub : Correct
(08:52:18 PM) Richard : I understand, would you please bear with me for 3 to 5 minutes while I take a look at this?
(08:52:29 PM) CoachesLoungeClub : Ok
(08:56:38 PM) Richard : Thanks so much for patiently waiting! I’m happy to confirm that the connected accounts can receive payments in any currency that Stripe supports, and this also applies if a platform creates the charges for a connected account. You can see all of the currencies we support here: Supported currencies | Stripe Documentation
(08:58:12 PM) Richard : Hey there, are we still online?
(08:58:53 PM) CoachesLoungeClub : Yeah
(08:58:58 PM) CoachesLoungeClub : I´m here
(08:59:09 PM) Richard : Great! And while we’re on this chat, is there anything else I can help you with?
(08:59:19 PM) CoachesLoungeClub : A partner yours answer me: The connected account based in MX is unable to have an USD balance due to the only settlement currency that can be paid out is MXN
(09:03:01 PM) Richard : They will receive their payouts in MXN since they are set in Mexico, but they can receive payments in USD
(09:03:41 PM) CoachesLoungeClub : Ok
(09:04:11 PM) CoachesLoungeClub : if the parent Stripe Connect account has balance in USD, and the linked Stripe express account has balance in MXN, should the website convert currency when triggering a transfer via API or the currency conversion will occur automatically on the express Stripe account side?
(09:05:10 PM) Richard : The currency conversion happens automatically on the Express account if they are receiving direct charges

We appreciate your help and we ask you for a solution for this requirement because we are losing customers due to this situation.

Thanks, really appreciate the details. I added this to the bug tracker, if they claim that the conversion will occur automatically we’ll remove the “currency” parameter from the API request sent to Stripe. You can also remove it from the extension code if it’s urgent, but please note that this is not tested yet, I recommend waiting for the Marketplace update.

Thanks for the answer. We required the Marketplace update because our Mexican Clients can’t use the platform.

We would be very grateful if you inform us when the update date would be.

Second, we want to know what is a code that we must modify to carry out this process.

As a temporary solution, you can try removing this line from hivepress-marketplace/includes/controllers/class-payout.php file Screenshot by Lightshot but this requires further testing.

Thanks for the answer.

We maked the code change and the system is working but we think that this process is risking because there aren´t proof.

When we will can have the MarketPlace Update?

We’ll try to update it within 2-3 days. I already tested it and it seems that Stripe converts the payout currency automatically so we’ll just remove the currency from the API requests (the same fix as suggested above).

We are grateful to you for all the help.

1 Like

Hello!!!

We are still waiting for the MarketPlace update. We request this update because our website is up and our customers are having problems with payments for this reason.

In advance, we appreciate all your support.

Sorry for the delay, this required a bit more testing but it’ll be released as soon as possible.

Hello

Thank for all.

We are waiting this update, Please don´t forget this because we are needing this with urgency.

1 Like

Hello!!!

We install the latest Marketplace Update however we still with the problem " Stripe currently doesn’t support currency usd with country MX".

Again we request your help by repair this problem.

We couldn’t find a universal fix for this that would work for different Stripe countries and their restrictions, but we added hooks for adjusting the Stripe API requests without editing any extension files. Please try this code snippet to remove the currency restriction for newly created Stripe accounts:

add_filter(
	'hivepress/v1/components/stripe/create_account',
	function( $args ) {
		unset( $args['default_currency'] );

		return $args;
	}
);

You can add it using the Code Snippets plugin.

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