Sharetribe does not charge marketplace administrators any transaction fees.
However, Stripe (and PayPal) charges a fee to process transactions. If the purchase is made through Stripe, Stripe's processing fee applies and if the transaction is made through PayPal, PayPal's processing fee applies.
Stripe has different processing fees than PayPal. To adapt to the payment provider, administrators can set different transaction fees (commissions) for PayPal and Stripe.
What are Stripes fees?
Stripe fees is the cost that Stripe charges for using their service. There are three main fees charged by Stripe: the transaction (processing or pay as you go) fee, the Custom (Managed) Accounts fees and the payout fees.
If your marketplace sells in a currency different than yours or your providers bank accounts' currency, conversion fees may apply as well.
Stripe processing fees
Stripe charges a fee for each transaction that happens within your marketplace. The fee is a combination of a percentage of the total transaction price and a fixed fee. The fee depends on the country where your Stripe account is located and the country related to the payment card. According to Stripe's page the fee's are the following:
- United States: 2.9% + 30¢
- Euro: 1.4% + 0.25€ for European cards. 2.9% + 0.25€ for non-European cards.
- United Kingdom: 1.4% + 0.20p for European cards. 2.9% + 0.20p for non-European cards.
- Denmark: 1.4% + 1.80kr for European cards. 2.9% + 1.80kr for non-European cards.
- Norway: 2.4% + 2kr for Norwegian cards. 2.9% + 2kr for International cards.
- Sweden: 1.4% + 1.80kr for European cards. 2.9% + 1.80kr for non-European cards.
- Switzerland: 2.9% + 0.30Fr
Always refers to the Stripe pricing page for your country to get the latest prices.
Stripe Custom (Managed) account fees
A Custom account (previously named Managed Account at Stripe) is created when a provider of your marketplace connects their bank details to the marketplace in order to start selling. A fee is charged for every Custom account that is connected and active within the month's period. An account is considered active in any month if it receives money from your marketplace. This fee varies depending on the country your account is located and the currency that it settles. You can learn more about these fees from Stripe connect page.
Stripe payout fees
Stripe will charge this fee every time the system transfers money from your Stripe account to your bank account or one of the Custom accounts. The fee varies depending on the country of your bank account. By default this happens daily. If you want to change the default you need to modify the payout settings from your Stripe account.
When are these fees charged by Stripe?
- Processing fee: it will be charge every time there is a transaction in your marketplace.
- Custom (Managed) accounts fee: it will be charged once per month and only for each active account in your marketplace.
- Payout fee: it will be charged every time money is transferred from your Stripe account to a bank account.
Who pays the fees?
The marketplace administrator is in charge of paying all the fees. This payment happens automatically.
You can learn more from the following diagram, or by reading Stripe documentation directly. The "Platform Account" refers to your Stripe admin account, while the "Connected Account" is your seller's custom account.
What happens when there is no balance to pay the fees?
Sometimes, if you refund charges or receive a chargeback, your available Stripe balance from recent charges may not be enough to make up the difference. In this case you’ll end up with a negative balance. Depending on the country where your bank account is located, Stripe will take some money from your bank account in order to cover the negative balance or your account balance will stay in negative and subsequent payments will go towards paying off the difference. You can learn more about this form Stripe support pages.
Can you give me some examples?
Sure! We've shared some example transaction with Stripe in this article.