All You Need to Know About Stripe Fees
Stripe is a company offering businesses a safe online payment and credit card processing platform. The company offers various services, including protecting against fraud, sending invoices, providing financing, managing business expenses, and virtual and physical cards. These services don't come for free; inflate the transaction's overall cost.
The good news is you can appeal for such and other fees by simply asking. From subscription fees such as Shopify, airline baggage fees, HOA, bank checking accounts to eCommerce platforms like eBay and Etsy. However, without knowing who or where to appeal the waiver, you might not get lucky. Worse still, you might engage in measures that might prove unsuccessful.
That's where DoNotPay comes in to ensure your access.
How to Calculate Stripe Fees
calculates all its fees based on certain criteria:
- Cards and wallets – a percentage of the total transaction + a flat-rate fee
- Wire transfers, ACH, debit, and credit cards, and Other payments – a percentage of the total transaction costs
- International payments - a percentage of the total transaction + a flat rate + charges for currency conversion
Additionally, depending on the size of your business, Stripe offers two types of bundles, including an integrated bundle that charges a percentage of the total transaction fee and a small flat rate charge, and a customized bundle that charges varying costs depending on the specific needs. The customized bundle is suitable for large businesses with large payment volumes or unique business models.
Let's get a look at how these fees are calculated.
Understanding Stripe Fees Better
Understanding Stripe fees might prove challenging due to the company's numerous pricing categories. However, if you will appeal to them to waive the fees, it's best to gain more insights on the items of your requests.
These categories and fees they charge are as follows:
|Cards and Wallets||2.9% + 30¢ (1% for international cards and 1% for currency conversions)|
|In person payments||2.7% + 5¢ (1% for international cards and 1% for currency conversions)|
|ACH direct debit||0.8% with a $5 cap|
|ACH credit transactions||$1 per transaction|
|Wire transfers||$8 per transaction|
|Checks||$5 per check and $15 per bounced check|
International transactions 1.4% + 30¢ (Sofort, giropay, and Bancontact), 1.6% + 3¢ (EPS), 80¢ (Ideal), 2.95% + 30¢ (Multibanco), 2.2% + 30¢ (Przelewy24), 0.8% + 30¢, capped at $6 (SEPA direct debit). All international transactions are subject to 1% for currency conversions
|Afterpay||6% + 30¢|
|Klama||5.99% + 30¢ paid in four installments 2.99% + 30¢ for Klama financing|
|Invoicing||0.4% (after the first 25 free invoices)|
|Billing||0.5% on recurring charges|
|Connect (API & other tools)||$2 monthly or 0.25% + 25¢ per transaction|
|Revenue recognition||0.2% on a $100,000 monthly volume, and 0.25% if the volume is below $100,000|
|Radar (fraud protection)||5¢ per transaction|
|Identity||(doc identification, $1.50 per verification and 5¢ per ID number lookup
Sigma (data analysis and 2¢
Insights via SQL)
|Atlas (business development)||$500 (one-time payment)|
|Issuing card creation||$3 per physical card, 0.2% + $0.20 per transaction
and dispute) after $500,000 in card transactions, $15 per lost dispute on issued card
|Premium support||from $1,800 per month|
There are some exceptional cases regarding Stripe fees:
- Stripe doesn't offer any refunds
- If your business is a nonprofit and uses Stripe for 80% of your donation payments, you might qualify for a discount.
How to Avoid/Appeal Stripe Fees
Generally, strive follows a pay-as-you-go pricing structure that allows you to pay for only the transactions you process instead of a subscription. While there are monthly fees applied to Premium support and Connect pricing bundles, there are no set up fees or hidden fees.
On the other hand, for you to enjoy reduced fees and discounts from Stripe, there are certain conditions you have to fulfill:
- Your business must have $80,000 or more in monthly transactions for you to enjoy the volume discounts available
- You can get a $15 chargeback on a dispute on your issued physical card, but the issuing bank much rule in your favor
- Your business has a 501c3 nonprofit status. However, Stripe will not charge your business any charges for its first $15,000 in sales volume. In this case, you will avoid $420, provided the pricing structure remains standard. The rule of thumb with nonprofits is you must use Stripe for 80% for your donation payments.
- You can also enjoy the free Stripe services, such as free access to their API to build a tailor-made custom checkout system on your eCommerce site if you don't want a third-party site to handle your business's transaction processing.
Even if you don't fulfill all or any of these conditions, that doesn't mean you can't enjoy reduced transaction fees. With DoNotPay, we will do our best to negotiate for reduced fees on your behalf.
How to Waive/Fight Stripe Fees by Yourself/on Your Own
You can now proceed with negotiations to reduce your Stripe fees. To achieve this, there are certain avenues to follow. However, a word of caution, if you lack the necessary negotiation skills, you are destined to fail in this endeavor.
Communication with Stripe is strictly online. Therefore, from your web browser, visit Stripe's website and reach out to:
- Their sales representatives
- Help and support
- Visit their media and press department, or
- Send an email with your appeal to info@Stripe.com
The truth is, these negotiations can take time as Stripe's sales representatives have to go over your appeal. So, be ready for back and forth communication with them, in addition to their counter-appeal. Without a professional negotiator like DoNotPay, your chances of getting that discount might not be as high as you'd hoped.
Is There an Easier Way to Waive Hidden Fees?
The fees that online payment platforms charge add to the overall cost of products and services. While you can waive Stripe fees, this procedure isn't as easy. That is not the case with DoNotPay, because we offer:
- Search "appeal fees" on DoNotPay, choose the Fight and Waive Fees product, and select the type of fee you want to appeal.
- Select the merchant you want to appeal fees for and enter the details of your transaction, including an associated account if you have one.
- Submit your case! DoNotPay will generate the best argument for your case and make sure your fee waiver request gets sent to the merchant for processing.
We Can Dispute Hidden Fees from a Wide Range of Companies
With the knowledge you now have, you can appeal for Stripe fees confidently. Better still, Stripe isn't the only company you can appeal to waive fees. With a versatile platform like DoNotPay that deals with all entities, you can rest assured of waiving fees for other companies, including:
What Else Can We Do?
Helping you waive Stripe fees is just a taste of what DoNotPay has in store for you.
From changing your mail address, filing SEC complaints to HR complaints, this unique modern platform will help you tackle other tasks, including:
- Discover and apply for scholarships for you
- Contact embassies and consulates on your behalf
- Notarize various documents for you
- Provide different standardized legal documents
- Giving you tips for creating fantastic passport photos
- Appeal to reducing property taxes
- Show you airline flight compensation hacks