jignesh_74410

[thin wyvern]

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• jignesh_74410, 19 hours ago, 26 messages

[spiral marsh]

Hi, let me help you with this.

Are you planning to use Stripe Connect?

[final beacon]

Actually we are not yet sure. We are exploring the ways to design our solution around Stripe

Can you refer to my previous question on this channel to get better context. This question is actually continuation from that chat

[spiral marsh]

Application fees are only relevant when using Stripe Connect - for example when a platform charges the service providers a fee, like Uber charges the drivers, and then sends the rest of the funds to them as earnings.

[spiral marsh]

I can't read the whole conversation right now. Could you summarise the context for me please?

[final beacon]

Yes sure, let me find that thead

[spiral marsh]

how much Stripe will actually deposit in the bank account
Coming back to your question, the Stripe fees are calculated after the successful transactions. There's no way to check it before, but you can estimate it based on your rate.

[final beacon]

Actually we are developing a solution where we would get invoices from Microsoft business central which would be displayed on our application for the customers. Customers can view those invoices and pay them on our application via Stripe. So once the payment is successful by the Stripe, we need to write that back to Busisness central to record the payment against the bank and close the invoice. So to record this payment against the bank, we need to know about the exact amount that was deposited by the Stripe and how much were the deductions

Here is the original question from my previous chat thread:

Hello there,

I am trying to integrate Stripe as a payment gateway with our application. We have a requirement to support multiple currencies with multiple banks. Also, there can be multiple banks for same currency in multiple regions, as our application is global. Example, there can be USD bank in US region, another USD bank in EU region and another USD bank in Asia region, and we configure all these banks in our Stripe account. In our application we have customers mapped with particular regions who would be making a payment. But how the Stripe will decide the bank in which amount should be deposited? I mean if any customer pays in USD, how the Stripe will know which USD bank this amount should go?

For that thread, one of you collegue suggested to go with the Stripe Connect, so I started exploring the Connect

[spiral marsh]

Not sure how Connect fits here. Currency challenge is separate from the challenge you described above.
The bank accounts you will be depositing into, do they belong to you?

[final beacon]

Yes the bank accounts belong to us

[spiral marsh]

I believe you can have multiple bank accounts on your Stripe account for different currencies. So for that particular case you don't need Connect.

[final beacon]

Yes, but we have a use case where for same currency, we can have multiple bank accounts in different regions

Example, there can be USD bank in US region, another USD bank in EU region and another USD bank in Asia region.

So can we configure 3 USD bank accounts into single Stripe account?

If yes, then how Stripe will decide which USD payment should be deposited to which USD bank account?

[spiral marsh]

You can specify the destination when making a Payout: https://docs.stripe.com/api/payouts/create#create_payout-destination

[final beacon]

But aren't payouts automatic by the Stripe?

[spiral marsh]

But I don't know if you can have bank accounts from different countries in one Stripe account. You might need to have multiple Stripe accounts, but not necessarily with Stripe Connect, just standalone ones.

[spiral marsh]

I think in your case it makes sense to have manual payouts.

[final beacon]

Okay, then if we have multiple stripe accounts, then we would need to maintain multiple api keys as well

[final beacon]

Ah, but we don't want to add this overhead on us to keep the solution as simple as possible on our end

[spiral marsh]

Yes, that's correct.

[final beacon]

So in Connect, we cannot avoid application fees? Like can't we make it to zero?

[torn junco]

👋 taking over for my colleague. Let me catch up.

[final beacon]

Which rate are you talking about here?

[spiral marsh]

I am talking about Stripe fees, application fees are set by you (the Platform account) and you can of course set them to 0.

So you can of course use Stripe Connect for your case too, it might just make it a bit more complex.

[final beacon]

Then with the zero application fees, and Direct charges, can we use Connect to manage the accounts in multiple regions? How this will be different from having different accounts all-to-gather without Connect?

?

[torn junco]

it's easier to manage your integration with Connect

you don't have to think about which set of secret/publishable keys to use for each transaction

[final beacon]

yes, so that's where I am confused. What will be the difference between using Connect vs using separate accounts.

Will there be extra charges that we need to pay to Stripe to use Connect? while will the separate accounts be a cost effective solution?

Also, I cannot find the setting where I can set the connect application fees to zero

[torn junco]

you just don't pass any

[torn junco]

the difference is in the way you make your integration with Stripe:
with Connect: you use your Platform secret/publishable keys to handle all the Connect Charges you want to create
without Connect: you have to figure out each time which set of secret/publishable keys you want to use for each of your acccounts

[final beacon]

okay

[final beacon]

But then how can we avoid the application fees?

[torn junco]

are you talking about this https://docs.stripe.com/api/payment_intents/object#payment_intent_object-application_fee_amount

[final beacon]

So basically this fees, but I guess that is the one which you pointed out

[torn junco]

yes

[final beacon]

So can we set this to zero to avoid it al-together?

[torn junco]

if you don't want to take application fees you just don't pass it

[final beacon]

ah okay, got it

So, now can we know how much stripe will deduct as Stripe fees?

[torn junco]

do you mean before making the payment?

[final beacon]

Before or after, but eventually programatically via API

[torn junco]

this https://docs.stripe.com/expand/use-cases#stripe-fee-for-payment only work afterwards

otherwise if you want your customer to pay the Stripe fees you can take a look at this https://support.stripe.com/questions/passing-the-stripe-fee-on-to-customers

[final beacon]

okay great, so this can be helpful

[finite hearth]

hi! I'm taking over this thread. let me know if you have any follow up questions.

[final beacon]

Thanks @finite hearth and Stripe team, as of now we don't have any further questions. But we are still exploring and trying to design our solution around the Stripe as we have a complex use case. So if we have any further questions, will reach out.