#Equilibrium
crude path
strong smelt
So the issue is the currency conversion?
valid barn
Stripe automatically transfers the presentment currency value - > settlement currency.
we tried to add 1% fee as mentioned here: https://stripe.com/pricing
But we are still having unaccurate values sometimes paid to the Connected account. it should always be flat value ( whatever the currency )
valid barn
So the issue is the currency conversion?
So yes, most likely conversion fee or cross region fee
strong smelt
Can you share an example where this happened?
Including the payment intent id? Just want to make sure I understand precisely what you're saying
valid barn
Connect account: acct_1NIFiEELISeaMvbh
py_1NJHMaELISeaMvbh9O9aObdb
pi_3NJHKDCewIvxqYAm1Atfuq4k
this is the actual payment intent
strong smelt
Got it thanks. So the issue here is the payment intent's settlement country is the US (you passed on_behalf_of: https://dashboard.stripe.com/test/logs/req_sKKLLjiz3wA0FK) and the currency of the PI is Euros. So, the application fee is also in Euros. Once the transfer is made to the US connect account, there will be a currency converion to USD. This is because the funds need to be paid out in USD.
Recommend reading: https://stripe.com/docs/connect/currencies
valid barn
Yep, I got that the settlement currency is in USD ( due to the on_behalf attribute )
We charge the end user in EUR ( full charge + application fees are in EUR now )
we need to convert that to USD to pay the connected account their application fees and we get paid in USD ( as a platform )
the fee received by the connected account is less than the amount agreed on, is it possible to make it always flat $5? ( even if we charge the end user in EUR or any currency? )
strong smelt
Not in that scenario
Since currency will be converted
It's hard to calculate exactly what it will convert to
valid barn
Yep, got you - we were thinking if we can probably pay the conversion fee EUR -> USD as a platform and we transfer the accurate flat application fee. would that make it possible?
Not sure if application_fee_amount vs transfer_data[amount] can help in this case?
strong smelt
No the issue is the foreign exchange rate. For example, you will not know exactly the rate that's going to be used to convert euros to usd at the time of creation so it won't be exact. You won't know exactly how many euros will equal 5 USD at time of creation
Really what you need to do if you need exactly 5 USD as the application fee is you need to charge the customer in USD
Or use a stripe hosted solution to present in euros but collect in usd: https://stripe.com/docs/payments/checkout/present-local-currencies
valid barn
We were trying to avoid this hosted UI/ checkout page because it will open on a new page ( right? ). we wanted something on same page ( we are using payment element ) - thank you for the suggestion still.
I got the issue now I believe. so it most likely won't be possible unless I do something like
USD pres - > USD settlement currency ( we can 100% expect $5 application fee to the Connect account )
EUR pres - > EUR settlement currency ( we can 100% expect 5 euro application fee to the Connect Account )