How to get paid when someone reserves your spot

Tap on Account -> Payouts to:

• Add or change the bank account you receive payouts to

• See your balance

• Transfers your funds

Payouts can only be issued to bank accounts and debit cards connected to bank accounts.

For reservations less than 30 days, payments will be available to be transferred 48 hours after the end of the reservation or after the payment is successfully processed.

For reservations longer than 30 days, payments will be available 48 hours after the end of each monthly period. For example, if someone reserves your spot monthly starting on July 1, you'll receive your first payment around August 1, and then around the 1st of each following month.

Once you have money in your balance, to transfer it to your payout account, just tap the Transfer Balance button. The money will be sent to your connected bank account or debit card, and should be available within 2-3 business days. For example, if you initiate a transfer on a Thursday, it should show up the next Monday or Tuesday.

Funds cannot be applied directly to payments for different parking spots or used as credits for existing reservations.

Stripe, our payment processor, has two different types of accounts.

• Customer Accounts are what are used for making payments TO Parkade.

• Connected Accounts are what are used for making payments FROM Parkade

These two accounts are separate in Stripe. This is for legal and regulatory purposes. Because of this, accounts added to one are not automatically added to the other.

Once you initiate a payout in the Parkade app, we send the money to your Stripe connected account. From there, Stripe will automatically distribute those funds to your selected account in 3 business days. Weekends and holidays can potentially slow this down.

You can access the Stripe account used for issuing payouts by going to https://connect.stripe.com/express_login and entering the email associated with your account.

If your account qualifies, you will be notified via email (coming from Stripe) about any tax obligations or forms.

You can review information on 1099-K forms including reporting thresholds here: https://www.irs.gov/businesses/understanding-your-form-1099-k.

You can view your total earnings for the year on Stripe. https://connect.stripe.com/express_login