How does Stripe process payments?
We think a picture is definitely worth a thousand words so to explain the journey fees take here are a couple of scenarios that explain the route the payment process takes.
Stripe facilitates a super efficient process that allows us to route your transactions directly to you, giving you total control over your finances.
Stripe Standard Fees are of 1.4% + 20p per transaction
Stripe Fees for Charities are of 1.2% + 20p per transaction
VAT Registered Organisers/Venues are able to recover VAT charged on the Service HM Provides though its platform for each transaction processed.
Each time a transaction is processed the funds will be going directly to your Stripe account, giving you full control over your finances, no delays.
You will be able to identify the payment made with the entry that it refers to and Horse Monkey will continue to give you a full breakdown of all the entries processed.
You set automatic transfers from Stripe to your Bank account and decide how frequently you want these transfers to take place or if you prefer, manually instruct the transfer when it is convenient to you.
For more information on Stripe Fees please go to https://stripe.com/gb/pricing