#gaildess-fees-connect
gray viper
Hi! So I have a marketplace where sellers and clients are connected. If a seller and client are from the same country (let's say both from Australia), I charge the customer in AUD for their convenience.
I am having issues in transferring a particular amount to the seller after the payment goes through. Let's say the seller charges $50 USD, and we charge a site fee on top of that.
Because there are so many cross-border and conversion fees, I'm having trouble adjusting the proper transfer amount to the seller (we use destination transfers).
For example, this 79.23 AUD Charge, it is being converted to USD. Is there a 1% fee being taking out of this?
The payment exchange rate shown in the dashboard is lower than what the Stripe exchange says it is:
Secondly, there is the actual transfer out to the seller:
Again, the conversion here isn't quite right. I'm wondering what fees are taken out here? Is it just the currency conversion fees? Or are the payout and cross-border transfer fees detailed here https://stripe.com/connect/pricing being taken out as well?
I guess my question specifically would be: at what point in the transaction is the cross-border transfer fee collected by stripe? When are the payout fees calculated and collected? Are these fees shown in the "Fee" line item, or simply deducted from the transfers?
Basically, I'm trying to send my sellers a specific amount, and without knowledge of how the fees work & from where they are deducted, I can't adjust to send the proper amount.
For example, if I'm trying to send a seller $100 USD, I would actually have to transfer $101USD (assuming the fees were 1%). But I can't calculate the adjusted transfer amount without understanding the fees
ebon rapids
so bear with me, fees aren't something we're super informed on in this channel and someone on Stripe Support can help you out more but
have to transfer $101USD (assuming the fees were 1%)
1/ there are per Charge fees on Stripe, https://stripe.com/pricing
typically 2.9% + 30c but depends on your pricing plan
so that is something that is taken per charge
later down in the page, there is a 1% charge for international cards and 1% for currency fx applying
2/
The payment exchange rate shown in the dashboard is lower than what the Stripe exchange says it is:
depends on the point in time of the fx, so I assume the charge time and the currency conversion screenshot after are two different points in time where the fx rate changed between
3/
Again, the conversion here isn't quite right. I'm wondering what fees are taken out here? Is it just the currency conversion fees? Or are the payout and cross-border transfer fees detailed here https://stripe.com/connect/pricing being taken out as well?
at Transfer time, I'm not sure, I assume it would be a straight fx but not sure if currency fx applies there or not. But the "per charge" won't apply in the transfer fx
also not sure about the cross border transfer fee
When are the payout fees calculated and collected? Are these fees shown in the "Fee" line item, or simply deducted from the transfers?
Payout fees are not collected here, they are collected when the payout of $X happens to the Connect account
Stripe Support will be able to help you out on this more https://support.stripe.com/contact
let them know you spoke to this channel and have more questions on fees
one last thing, typically what we recommend is that users make their fee system such that they don't have to calculate fees on a per charge basis, so your payment amount structure should have a buffer built in such that you can account for fees