Introduction

In this article, I will try to explain the step by step process that any transaction goes through on Stripe. A transaction is a debit/credit card charge or a refund.

The first step of processing any transaction is creating an order on WaveRez. The final step of order creation is processing a payment. You can also add additional payments on the payments tab of an existing order, click here to read how to do that.

Requires Capture Status (same day transactions)

Once you've processed the transaction for a card, it will show as "Requires_Capture" on the payments tab under that payment (as shown below). This will place a pending charge on the customers bank and temporarily hold the funds until "captured" aka processed or voided (see refunds section below).



Requires_capture will show until 6PM Central Time the following day. The transaction is then "captured" aka processed after 6PM for the day prior.

Succeeded Status

If the transaction is showing "Succeeded" (as shown below), then the transaction has been captured. After the transaction is captured, it will take 2 business days after this to be deposited from Stripe to your bank account. Because of the cut off time with Stripe and how they process transactions, we recommend waiting 3 rolling (per transaction) business days before expecting a deposit in your account. These are Stripe's terms, and we cannot adjust this. You may also experience up to a 14 day waiting period for your first deposit for security reasons. Stripe will indicate this on your dashboard, if it applies. Click here to sign into your Stripe Dashboard.

Refunds

If the transaction is refunded while showing "Requires_capture" then that transaction will be voided/cancelled. This will result in no transaction fees associated with it on Stripe. How this transaction is removed from the customers pending transaction is entirely dependent on their banks personal procedures. Most banks will drop the pending charge during nightly processing if cancelled. Other banks may take up to 3 business days.

If the transaction needs to be refunded and is showing "Succeeded," then the refund will process as a refund and not void/cancelled. There will be fees associated with the transaction and refund. This process can take up to 7 business days. This time frame is largely dependent on the customers bank procedures, in most cases it takes 3 business days.

Deposit Notes

Because of this process with Stripe, we recommend charging any security deposits the day of the rental. This will allow you to cancel/void the deposit transaction if processed the same day as the charge.

Updated on: 25/03/2025