If you’re considering using Stripe to process payments for your business, it’s important to understand the fees involved. Stripe’s pricing is straightforward, but there are a few different fees depending on the type of transaction you’re processing. Here’s a breakdown of Stripe’s fees as of 2024:
Standard Payment Processing Fees
Credit and Debit Card Payments:
• Stripe charges a fee of 2.9% of the transaction amount plus $0.30 per transaction for processing credit and debit card payments. This rate applies to most domestic cards, making it easy for businesses to calculate costs regardless of the card type or issuer.
ACH Direct Debit Payments:
• For ACH direct debit transactions, which are bank-to-bank transfers, Stripe charges 1% of the transaction amount plus $0.30 per transaction. ACH payments are a popular choice for businesses that need to process large transactions or recurring payments due to their lower fee structure compared to credit card payments.
Additional Fees
Currency Conversion Fees:
• If your business accepts payments in multiple currencies, Stripe charges a 1% fee on currency conversion. This fee applies to any transaction where the currency differs from your default payout currency.
International Card Fees:
• For transactions involving cards issued outside of your business’s country, there is an additional 1% fee. This is in addition to the standard 2.9% + $0.30 fee for credit card payments, making it a total of 3.9% + $0.30 per transaction.
Refund Fees:
• While Stripe doesn’t charge an additional fee to process a refund, they do not return the original transaction fees. So, if you refund a payment, the 2.9% + $0.30 or applicable fee on the original payment is not refunded to your account.
Chargeback Fees:
• If a customer disputes a charge and initiates a chargeback, Stripe charges a $15 fee per chargeback. This fee applies regardless of the outcome of the dispute. However, if the chargeback is found in your favor, Stripe will refund the $15 chargeback fee.
Failed Payment Fees:
• For failed payment attempts, such as a failed ACH transfer, Stripe charges a $4 fee. This fee helps cover the costs associated with handling and processing failed transactions.
Instant Payout Fees:
• If you want to access your funds immediately, Stripe offers an instant payout option. This service comes with a fee of 1% of the payout amount, with a minimum fee of $0.50. This is ideal for businesses needing quicker access to cash flow.
Disputes or Returns:
• If you encounter a situation where a payment needs to be disputed or returned, Stripe has a fee of $25 per occurrence. This fee covers the administrative costs associated with handling these cases.