Stripe's fees for Credit Card transactions are only 2.9% + $0.30 processing fees per charge. Stripe calls this the 'Transaction Fee'.
If the customer's card is in a different currency than your bank account, Stripe will add an additional 2% "International Fee" per charge. Learn more about Stripe's "International Fee" here.
Stripe also charges 0.25% on credit card payments to cover the 'Transfer Fee'.
When credit card payments are made, both the 'Transaction Fee' and 'Transfer Fee' are applied.
You can learn more about how these fees are calculated here.
For ACH Payments, fees are just 1% with a maximum fee of $60 per charge. There is no 'Transfer Fee' on ACH Payments.
When funds are deposited (or 'paid out') into your bank account, Stripe adds a $0.25 fee on the Deposit/Payout. This fee cannot be passed to your clients.
Stripe will only charge this fee once per Deposit, even if the Deposit contains multiple payments. You can learn more about how Deposits/Payouts work here.
We've chosen to integrate with Stripe as our Payment Processor for several reasons, namely:
All in one system helps you get paid faster - No more needing to follow up (or chase down!) the client to secure payments. We've found that 50% of clients pay through Stripe within 5 minutes of sending the quote.
Secure storage of credit card info - All information is stored securely in Stripe's servers with bank level security. You'll also be able to capture funds in case of damages, missing items, or to cover any other remaining funds.
Same rates for all cards (you don't pay more for AMEX or Mastercard, nor do you pay more if you key it in instead of the customer).
You can learn more about the other benefits of Stripe here!