What is Stripe?
Stripe is a third-party payment processing service that allows LÜM to make secure transfers to your connected bank account. In order to receive money earned on LÜM, you will need to have a connected Stripe account that makes the transfer secure and easy.
Are there any cash out fees involved?
Yes, LÜM uses a third-party payment processor for cashouts. The processor – not LÜM – charges a transaction fee each time you are paid as well as for rejected cash outs resulting from any incorrect information that is submitted. The fee is based on the number of Notes being converted to USD or tax applied to Exchange and Club payments. This fee will automatically be taken from your account balance upon cash out.
Individual or Business Account?
When connecting or creating a Stripe account to LÜM, you'll be prompted to either select Individual or Business. In most cases, you should choose "Individual". However, if you are classified as a business please register as such.
If you aren't sure which one, that would suggest you should register as an "Individual."
Click HERE to connect or view your Stripe account.
Click HERE to contact Stripe support.