Faster payments: set up your payouts account

What's changing

We're moving builder payments onto Stripe, a regulated payments provider used by millions of businesses worldwide.

Today you mark a milestone complete, email us an invoice, and wait for the next payment run. Payment lands 7 to 14 days later.

On the new system, once the customer approves the milestone, payment is sent to your bank account automatically, within one working day. No invoice, no payment run, no Thursday cut-off, no chasing.

Nothing else about milestones changes. You still mark the milestone complete on the platform, still upload your photos and certificates, and the customer still has seven days to approve or raise an objection. See Milestone evidence and approvals.

This is not live yet. Keep using the old way for now

The new system goes live in about a week. Until it does, nothing changes for you. Keep submitting your invoices exactly as you do today.

We're moving builders across one at a time, as soon as each account is ready. We'll email your Beams account owner to confirm the date your payments start coming the new way. Until you get that email, carry on as normal.

What you need to do

Please get your setup done by Friday 25 September. We're aiming to start paying the new way from the week beginning 28 September, and we'll confirm your own date with you directly.

1. Log in and go to the new Payouts section in your settings: beamsrenovation.com/app/builders/settings/payout
2. Click the link to Stripe's onboarding form.
3. Fill in your details and submit.

It takes about ten minutes if you have everything to hand. The sooner you're set up, the sooner your payments can start arriving the fast way.

What you'll need

• Your company number, if you're a limited company
• Your company address
• Personal details for anyone who is a company director, owns more than 25% of the business, or is a senior manager who runs it. For each person: full legal name, date of birth and home address
• The bank account details you want to be paid into

Why we're asking for personal details

This is a legal requirement, not a Beams one. Any regulated payments provider has to verify who it's sending money to before it can pay out. Because we're setting you up on a new provider, those checks have to be done again.

You enter your details on Stripe's own form, not ours.

If you get stuck on the form

The form is Stripe's, so Stripe's own help site is the quickest way to get an answer about it. Search support.stripe.com first. If that doesn't sort it, or you have concerns about the new system, email build@beamsrenovation.com and we'll help.

Common questions

Do I have to do this?

Yes. In time this will be the only way we pay builders. The sooner you're set up, the sooner your payments start coming through quickly. If you have concerns about the new system, email build@beamsrenovation.com and we'll talk it through with you.

When will my payments actually change?

Not until we tell you. We'll send a confirmation to your Beams account owner with the date your payments switch across. Until that arrives, keep doing things the old way, even if you've already completed your Stripe setup.

Do I still send an invoice?

Not once you're on the new system. The customer approving the milestone is what triggers your payment, so there's no invoice to email. Until you get your confirmation, keep invoicing as you do today.

Is my information safe?

You enter it directly with Stripe, who handle payments for millions of businesses and are regulated in the UK. Beams doesn't see or store your identity documents.

I'm a sole trader and don't have a company number

Select sole trader on the form. Stripe will ask for your personal details instead of company ones.

Who do I need to give personal details for?

Anyone who owns or runs the business: company directors, anyone holding more than 25% of the shares, and any senior manager who runs the business day to day. For most builders on Beams that's one or two people. If you're a sole trader, it's just you.

How long does verification take?

Usually minutes. Sometimes Stripe asks for a photo of a passport or driving licence, which can add a day or two. The form tells you on screen if anything else is needed.

Is this a credit check?

No. It's an identity check and it doesn't affect your credit file.

What bank account can I use?

An account in the name of the business that holds your Beams Builder Agreement. We can't pay into an account in a different name.

How do I change my bank details later?

Update them in the Payouts section of your settings. Never send bank details by WhatsApp or text, to us or to anyone else, and treat any message asking you to change them as suspicious.

What happens to a project I'm halfway through?

Nothing changes on site. Once your account is switched across, your next approved milestone is paid the new way.

Does it cost me anything?

No. There's no charge to you for receiving your payments.