Heads-up about some changes Stripe is making that are sure to disappoint others beyond myself.
Connect will now charge $2 per active account per month + 0.25% of each account’s volume.
Connect will also charge a $0.25 fee for each payout to a Connected Account.
Refunds are free but fees from the original charge will no longer be returned.
Sources: https://stripe.com/us/pricing, https://stripe.com/us/connect/pricing
Considering these features were free, this wholly sucks for some people who have refund-heavy applications. These changes also make it killer for marketplaces since Stripe is now charging for the # of active sellers you have on top of their volume too!
Even though this more of a Stripe-community problem, what does the Bubble community think?
I think it’s time to install the Braintree plugin.
Wow, don’t think I even got an email about this and have been using Connect for a while.
Thanks for the post!
I guess this is applicable to new users only while the existing users would still have the same pricing as before. I remember receiving an email from them a while ago about the increase which said that it wouldn’t affect us if I’m not mistaken.
Hi Macchiato. Thanks for the Heads-Up.
I think those prices have been in place for some time now. Important to mention is, that the first points mentioned by you (2$ + 0,25%) is for custom / express accounts only (and not for standard accounts). The point about the payout fee is a new one though :-/
Mentioned that, here’s the quote:
I reached out to Stripe directly to see who’s effected and here’s what they said (paraphrased):
- Connect has been a paid product for a long-time, it’s been a popular assumption that it was free.
- Payouts for Connect is a newer change in policy, they’re investigating the start date. (will update)
- Refunds’ original charge fees are no longer returned for new users since September 17, 2017 at 9am.
Has anyone discussed alternate pricing options with Stripe for low volume accounts as they advertise on the pricing page?
I hear you, but as I said: This is only for custom / express accounts, not for “standard” accounts (for which you don’t have to pay this fee)
Did you ever find out about the low volume express accounts from stripe or indirectly from someone else? I’m in the process of researching a new product and any information you have will be really helpful.
I’ve sent stripe sales an email to discuss options but I’ve been waiting for a while now for a response.