Kevin C.

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  • January 9, 2017 at 10:02 pm in reply to: Stripe Account Withdrawals #52586
    Kevin C.
    Participant

    Perfect, thank you for your help Ben!

    January 9, 2017 at 6:43 pm in reply to: Stripe Account Withdrawals #52573
    Kevin C.
    Participant

    Perfect. Yeah I saw that with PayPal, so I’m glad to hear there’s no limit for stripe.

    And also on more question, just to make sure I have the exact order of the process down for my initial question – let me know if this is correct:

    Example:

    – a Buyer is purchasing a $40 item from Vendor A and a $60 item from vendor B. $100 total. Both vendors get to keep 95% of their sale as commission.
    – Buyer is charged $100 on their credit card.
    – Admin receives $5 ($40*5%= + $60*5%), with no fee.
    – Vendor A receives $38 ($40*95%) minus Stripe fee (0.3c + 2.9% = $1.40), or $36.6
    – Vendor B receives $57 ($60*95%) less stripe fee (0.3c + 2.9% = $1.95), or $55.05

    Would this be the order, or does the admin take a piece from all vendors AFTER stripe has charged them a fee? Because in my above example, Stripe is technically only charging a fee on 95% of the transaction.

    January 9, 2017 at 6:28 pm in reply to: Stripe Account Withdrawals #52569
    Kevin C.
    Participant

    Thank you for the clarification. That really helps. And also, I’m assuming this all works the same way with orders that include multiple different vendors? Is there any limit on how many different vendors can be involved in a stripe transaction?

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