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meet your toolkit!
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introducing somos
heartbeat: user guide
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💳 connect to stripe
stripe is our payment partner! this is where earnings from your products will land! you’ll need to connect to stripe so you can get paid! 💸
still got questions? get in touch: support@somos.education.
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🏦 who needs to connect to stripe?
- creators: any teachers who want to sell paid products (e.g., courses, classes, e-books, etc.) need to connect to stripe.
- if you're a channel host and just want to use our free features, you don't need to worry about this part!
top tip:
🤝 you'll need to connect to stripe before you can buy our lifetime deal. this ensures the deal is of real value to you.
🪙 after all, without a stripe connection, you won't be able to earn on the platform!
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🚀 how to connect to stripe
once you're all set up on ❤️ heartbeat, the magic really begins! a connect to stripe button will appear on your somos dashboard. 🎩✨
by clicking on the button, you'll embark on a guided onboarding journey that'll get you connected to stripe and ready to roll in no time! 🚀
top tip:
🌈 connecting to stripe might look a little different depending on your specific situation but don't worry, we've mapped out a few common scenarios to guide you through the process.
👀 take a look through the scenarios below, find the one that matches your situation, and simply follow the steps. easy peasy!
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1️⃣ you already have a stripe account
⏰ estimated time: 1 - 2 minutes
📚 step-by-step guide
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2️⃣ you don’t have a stripe account but are based in a stripe supported country
⏰ estimated time: 2 - 3 minutes
🌍 list of stripe supported countries
* please note: for our friends in indonesia, you'll still need to take routes 3 or 4 below for the time being.
📚 step-by-step guide
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3️⃣ you aren’t based in a stripe supported country but have a wise account you can connect to stripe
⏰ estimated time: 3 - 5 minutes
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4️⃣ you aren’t based in a stripe supported country but are open to creating a new wise account you can connect to stripe
⏰ estimated time: 10 minutes
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5️⃣ you are based in a restricted country…
- we're thrilled to be able to work with teachers from 170+ countries and we're eager to increase that number as soon as possible.
- however, due to certain banking restrictions, we are not yet able to partner with teachers based in:
afghanistan, burundi, central african republic, chad, congo republic, crimea (sub-territory), cuba, democratic republic of the congo, eritrea, iran, iraq, myanmar, north korea, russia, somalia, sri lanka, republic of south sudan, state of libya, sudan, syrian arab republic, ukraine, venezuela and yemen.
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💰 how payments work at somos
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the set-up 🏗
- as independent sellers on somos, teachers need to set up stripe connect accounts to receive payments.
- whenever you make a sale via somos: 📈
- 90% (less stripe’s payment processing fee) goes straight to you.
- 9% comes to us.
- 1% goes to our impact fund.
- as a teacher, you're in control of: 🎮
- setting your prices.
- defining your own refund policy on a per-product basis.
- creating early bird promo codes and discounts.
- managing your payout schedule from your stripe dashboard.
- keep in mind: 🧠
- you're responsible for collecting and/or paying any applicable taxes (e.g., income or sales tax/VAT) in your local jurisdiction.
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why is somos structured like this? 🤔
- we want you to get your money quickly and with minimal processing fees.
- your share of any payments heads straight to your stripe account, and you can choose whether to set your payouts to daily, weekly, or monthly. at somos, we never hold your money.
- we recommend keeping a balance in your stripe account until your course/class starts. this helps if you need to process any refunds for students.
🤔 frequently asked questions
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- it's entirely free to join somos as a teacher! we do, however, charge a commission on products sold via the platform.
- as a social enterprise, it's particularly important to let you know what we charge for and how.
- take a look at our commission breakdowns here.
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- we use stripe as our payment gateway. this means:
- we can accept payments from students anywhere in the world.
- teachers are independent sellers on the platform and will need to set up stripe connect accounts to receive payments.
- in order to do this, you will need to either:
- have a local bank account in one of stripe's 46 countries (excluding indonesia); or
- if you are outside stripe’s 46 countries but have a wise account, you should be able to connect this to stripe. wise is available in 170+ countries, please follow the guide below to connect your wise account to stripe.
- once you are set up, you control your own payout schedule from your stripe dashboard.
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- we can accept payments from students anywhere in the world.
- in order to teach with somos, you must be able to connect with stripe.
- there are two ways you can do this:
- have a local bank account in one of stripe's 46 countries (excluding indonesia); or
- if you are outside stripe’s 46 countries but have a wise account, you should be able to connect this to stripe. wise is available in 170+ countries, please follow the guide below to connect your wise account to stripe.
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- possibly! if you are outside stripe’s 46 countries but have a wise account, you should be able to connect this to stripe.
- this extends coverage to 170+ countries.
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- we are able to work with teachers from 170+ countries and would love to increase that as soon as we can. however, due to banking restrictions, we are not yet able to partner with teachers based in:
afghanistan, burundi, central african republic, chad, congo republic, crimea (sub-territory), cuba, democratic republic of the congo, eritrea, iran, iraq, myanmar, north korea, russia, somalia, sri lanka, republic of south sudan, state of libya, sudan, syrian arab republic, ukraine, venezuela and yemen.
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- yes! it's important to us that our team, communities we work in and teachers not only have a say in how somos is run but also benefit financially in any growth.
- teachers will be able to invest in the business via targeted fundraising rounds and in addition, teachers will be eligible for our share/stock option scheme.
- we have recently partnered with ownco to make this a reality - check out the announcement.
- if you’re a teacher and would like to find out more about how the scheme works, take a look at our co-ownership page.
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