#Kyle U

1 messages · Page 1 of 1 (latest)

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crimson sphinx
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Hello

spare notch
crimson sphinx
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req_N7UAHaf8R7XTGa

rigid cloak
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Hi 👋

There is no application see set on this charge. It's also not a Connect charge.

crimson sphinx
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We are using Stripe connect to transfer funds to the bank accounts of our users

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Transfers are working properly to our connected banks

rigid cloak
crimson sphinx
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Yes I think we are doing this. It says we can collect fees here by taking from the transfer amount, but how is this done?

rigid cloak
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You reduce the amount you transfer to the user by your fee

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In the charge you shared with me the amount was 378. If you wanted to collect a 10% application fee then you would transfer 340 or 378 -38

crimson sphinx
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Ok and would that be done in an equation under transfers -> amount

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amount: value - fee

rigid cloak
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Well your integration would need to calculate that but as. long as you passed the correct integer value as the amount when creating the transfer that would work

crimson sphinx
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Do we also include 2.9% + 30c into the transfer value?

rigid cloak
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You would need to subtract any funds you want to keep as the platform from the transfer.

crimson sphinx
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At what point does Stripe take their fee? At charge and then the remainder is what is available to transfer?

rigid cloak
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You can see it in the diagram in the doc I linked

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The fee is on the Charge

crimson sphinx
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We have it so that the transfer can go to multiple different bank accounts on one charge. How would we factor this in to the transfer?

rigid cloak
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That is up to you

crimson sphinx
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Let say we have a subtotal of $100 split between two connected banks, $50 each on the transfer. we added 4.9% + 30c (2% application fee + 2.9% + 30c to go to Stripe) to the total so the user pays $105.2. How do we set it up so that each bank gets $50 on the transfer, Stripe gets $3.2 and we get the $2?

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amount: finalValue,
currency: defaultCurrency,
destination: val.stripeAccountId,
transfer_group: '{ORDER10}',

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Above is what our transfer looks like

rigid cloak
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If the total charge is $105.2 and you want each bank to get $50 then you just transfer $50 to each bank

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You'll see the amounts set in the Transfer are the amounts received by each Connect Account

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The $5.20 remaining from the total charge is net amount the platform retains

crimson sphinx
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Ok i think I got it. The 'amount:' on the charge needs to be +4.9% + 30 then the transfer is just the actual amount

rigid cloak
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Right, the amount on the charge would need to be all the funds both you and the multiple other parties wish to collect.

crimson sphinx
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And then Stripe automatically collects their fee from the difference then deposits any remaining funds after that to our platform account

rigid cloak
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Stripe fees are assessed on the charge

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As we show in the diagram

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In that scenario (the diagram) the Platform account charges $100 but gets $96.80 because the fees are assessed there. Then they transfer a total of $90 between the two Connected Accounts

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So they are left with the remaining $6.80

crimson sphinx
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Is there a spot in the logs to see how much we retained from our transfer? Or anywhere it would show up to make sure we set it up properly

rigid cloak
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That is something you would need to calculate. You have the all the numbers you need though. You can see the Stripe fees assessed on the Charge object so you can subtract that from the total and compare with the amounts you transfer.

crimson sphinx
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Ok so as long as the difference between the charge amount and the transfer amount = Stripe fess & our fee then it is working

rigid cloak
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Yes that should work out

crimson sphinx
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Great, thank you!