#adrianvalenz_code
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barren dagger
It's a specific amount, not a percentage, but yes you can set it or update it at any time you wish before the payment is complete.
You need to account for stripe fees yourself when determining the value to set
cerulean tide
Thank you for your response @barren dagger I'll give my client the answer that it is possible and then I'll get back to figuring out the details on when to calculate it. Do you have any resources, like tutorials, that can provide insight?
Off the top of my head I figure when the Rails create action runs, the amount would be in the params and I can grab it, do my calculations to get the final amount of the application fee and pass that when creating the charge.
Also I haven't used Stripe in a while, it looks like now we are to use the PaymentIntents API and that is true with Stripe Connect I reckon.
barren dagger
Yes, if you last integrated before 2019, payment intents would be new, but they are our modern API for payments
Do you have any resources, like tutorials, that can provide insight?
We don't have much about this, because its highly dependent on the details of each businesses model & requirements and the relationship they have with connected account owners and customers
It's really up to you what to set based on those details
Broadly, unless you have another way to cover fees from your account holders, I'd suggest setting a fee sufficiently high to cover any potential stripe fees.
cerulean tide
What potential Stripe fees could the Platform Account incur if we are using Stripe Connect's Standard Account? The docs say the Connected Accounts are liable for Stripe fees, as well as disputes and losses.
And does that mean it is adviced that we just set a high fee vs calculating a percentage?
barren dagger
Yep, in that model those fees are paid by the connected account, so your fee can be smaller (or zero)
the fees for payments is more relevant to destination charges where you cover the stripe fees
cerulean tide
Totally. Ok awesome. Thank you for your time. I think that covers my concerns for now. Later this week I will look into actually implementing these calculations to get the final Application Fee amount.
barren dagger
Great glad to help! Good luck with the rest of your work 🙂