Stripe onboarding and payouts
Truemed uses Stripe to securely process HSA/FSA payments, send payouts to your bank account, and handle refunds. Every Truemed merchant completes this step during onboarding, whatever platform you sell on. This guide walks you through connecting your account.
This is about how Truemed pays you. If you’re looking to add Truemed as a payment option inside your own Stripe checkout, see Stripe custom payment method instead.
Why Stripe?
Truemed acts as the payment processor for HSA/FSA transactions on your store. We collect funds from your customers’ HSA/FSA cards on your behalf, then transfer those funds to you via Stripe.
Stripe handles:
- Payouts: Order totals (less Truemed fees) are deposited to your bank account on a rolling 2-day basis
- Refunds: Any refunds are deducted from your available Stripe balance
- Security: Your bank credentials are encrypted and managed entirely by Stripe. Truemed does not store your banking information.
Connecting your Stripe account
Step-by-step
- Click the Stripe onboarding link provided in your onboarding plan or by your Truemed contact.
- Complete the Stripe Express signup form. You’ll be asked to provide:
- Business information (name, address, EIN)
- A US bank account for receiving payouts
- Identity verification for the account owner
- Verify the green checkmark appears in your onboarding plan. This confirms your bank account is connected and the payment app will function correctly once activated.
Already have a Stripe account? You can use your existing Stripe credentials to log in, but you are creating a new connected account under the Truemed platform. You’ll still need to provide all required onboarding information for your account to be “Enabled” or “Complete."
"Enabled” vs. “Complete”: what’s the difference?
Your Stripe account must be at least Enabled before the Truemed payment app can be activated. We recommend completing all requirements as soon as possible to avoid any interruptions to payouts.
Bank account setup
Why is a bank account required?
Because Truemed processes payments on your behalf, we need a valid US bank account to deposit your funds. This connection is made securely through Stripe during onboarding.
Payout schedule
- Payouts are sent on a rolling 2-day basis
- Depending on order volume, payouts may be batched
- You can reconcile individual orders with payout batches using the Download Report button on the Orders tab at app.truemed.com
International merchants
If your business is not based in the United States but sells to US customers, you can still onboard with Stripe. You will need:
- An EIN number. You can apply as a foreign entity. IRS instructions for international EIN applications
- A US phone number. If you don’t have one affiliated with your business, services like OpenPhone can provide one.
- A US address affiliated with your business.
Common questions
Do I need a separate Stripe account for Truemed? Yes. Even if you already use Stripe for your store, you are creating a new connected account under the Truemed platform. You can log in with your existing Stripe credentials, but you still have to supply all the requested onboarding information. This is standard for payment facilitators and ensures proper fund routing.
I’ve linked my bank account but haven’t finished the other steps. Is that enough to install the app? No. Stripe prevents payouts while an account is “Restricted”, so the payment app can’t be activated until your account reaches “Enabled” or “Complete”.
What if the Stripe account owner has changed? If the original account owner is no longer with your company, contact merchants@truemed.com. We’ll help you update the account ownership and re-verify.
How do I update my payout bank account? Log in to your Stripe Express dashboard (accessible via your Truemed onboarding link) and update your bank account details. Changes take effect on the next payout cycle. You can also reach out to merchants@truemed.com for assistance.
Can I use a non-US bank account? No. Truemed requires a US-based bank account for payouts. See International merchants above.
How do I match payouts to individual orders? See Viewing order details.
Troubleshooting
Need help?
Contact merchants@truemed.com for any Stripe onboarding issues.