Why Choose Stripe to Get Paid
Stripe is a great option for startups or e-commerce businesses who want a fully functional payment gateway that is easily customizable to fit your brand and business.
While many banks require businesses to create merchant accounts before they can accept your customers' payments, Stripe does away with that. Just sign up with Stripe and get payments sent to your existing accounts.
Stripe also lets you easily test transactions, which is great if you're running an e-commerce shop or want to brand your checkout pages for maximum quality. Other gateways require special registrations in order to run tests, and may even have limited branding opportunities, if any. If making sure your brand is front and center is important to you, Stripe would be the best choice.
Your business can enjoy a straightforward pricing scheme, coupled with great security and features, such as:
- No need to store customer or card information on your own servers
- Allow the use of saved cards without touching card data yourself
- Additional security for customers with security questions
- Support for subscriptions
- Fraud protection
- Mobile payments
How are Stripe Fees Calculated?
Stripe fees are fairly straightforward, but can be confusing if you don't know what you're looking for.
a fixed fee (US$ 0.30)
There are no monthly fees to use Stripe. Each time you receive payment using Stripe's payment gateway, you just get charged a transaction fee:
2.9% of the total transaction
Customized pricing is possible for large payment volumes.
If you have international transactions, these will incur an additional 1% transaction charge as well as exchange rate fee.
Large wire transfers, direct debit, recurring charges, and the like are also subject to different transaction fees.
How Do I Avoid Fees on Stripe?
While there are currently no ways to avoid the fees on Stripe, you can look into passing the Stripe fee on to customers as an additional processing fee. This may be against the law in some jurisdictions, so check first before doing this!
Take note that raising the price you charge customers also affects the total amount charged to you, so there is no clear-cut way of doing this! Using a handy Stripe fee calculator like the one InvoiceBerry is offering here can help you determine exactly how much you need to charge for your products.
Speaking of that...
How a Stripe Fees Calculator Can Help
A Stripe fees calculator is a valuable tool you can use to accurately determine exactly how much you are supposed to receive for transactions made through Stripe.
This helps you because:
- You will know how much your business is getting from your customers. Using payment gateways is part of the cost of doing business, but that doesn't mean you'll have to accept this cost blindly. By knowing exactly what you'll get, you can set prices and adjust your margins accordingly.
- Learn how much you need to charge for products and adjust easily. If the cost of using Stripe is more than what customers are willing to pay, then it doesn't make sense for your business to use Stripe. A calculator can make this number clear to you so you know how much you need to cover if you're adjusting your prices.
- Save time and minimize errors with an accurate calculator. No matter how great you are at math, manually calculating how much Stripe will charge you can be prone to errors when we're in a hurry. A Stripe calculator will get you the right number every time.
- Create business plans close to reality with accurate numbers. If you know how much you're paying to use Stripe, you'll rest easier knowing that your business decisions are based on solid numbers. Stop the guesswork!
How to Use the Stripe Invoice Fee Calculator
The Stripe Invoice Fee Calculator is easy to use if you need to quickly determine how much you're paying Stripe to use their gateway. Use this when calculating prices and margins!
First, plug in the amount of money you want to calculate fees for. Click on Calculate to get the actual numbers.
After clicking Calculate, you will automatically see from the numbers below how much money it'll cost you per payment accepted through Stripe.
The first column shows the actual fee collected by Stripe from your transaction.
The second column quickly tells you how much you're getting, so you don't have to do the calculation yourself.
The third column tells you exactly how much you should price your item if you'd like to receive the exact amount you entered. This is great if you already know exactly what you need to make!
If you need to change the amount, or check fees for another product or service you are offering, simply enter the new amount in the field. Click Calculate again to get your new numbers.