Stripe fees

  • Resolved Jason Chong

    (@dantianhealth)


    6 years, 3 months ago

    When I try to implement stripe fees I can add 1.75% and 0.30 as a fixed fee and combine them based on the sale price of the item.
    However Stripe charges a fee based on the total amount, so hence the actual fee charged by stripe is a little more than this.

    eg $200 item
    Currently Fee = ($200 * 1.75%) + 0.30c = 3.80 this equals total of $203.80
    Stripe fees on $203.80 = $3.87 meaning I receive $199.93.
    For me to receive the full $200 for the item the fee needs to be $203.87.

    Their documentation suggests a formula to calculate what fee to charge dependant on the desired exact received amount (https://support.stripe.com/questions/passing-the-stripe-fee-on-to-customers).
    Is there any way to do this with this plugin?

    • This topic was modified 6 years, 3 months ago by Jason Chong.
    • This topic was modified 6 years, 3 months ago by Jason Chong.
Viewing 7 replies - 1 through 7 (of 7 total)
  • Plugin Support kenil802

    (@kenil802)

    6 years, 3 months ago

    Hi @dantianhealth,

    Thank you for sharing the link.

    Regarding the query, based on the formula given above in the link, can you please try by keeping the fees to 1.785% instead of 1.75% and check whether it works or not.

    Please let us know how it goes.

    Regards,
    Kenil Shah

    Thread Starter Jason Chong

    (@dantianhealth)

    6 years, 3 months ago

    Hi.
    That solution will not work as the extra 0.035% you are proposing will create a highly variable amount.
    I have sales ranging from 140 (resulting in $0.049)to 2400 (resulting in $0.84).
    I need the extra amount about the 1.75% to be a stable $0.30.
    Is there no other solution? This is a standard methodology for payment processors to charge (ie a % plus set transaction fee) so it would be great for a solution to allow the vendor to receive the exact sale amount after fees.
    Thanks

    Plugin Support kenil802

    (@kenil802)

    6 years, 3 months ago

    Hi @dantianhealth,

    We got your point. We will try to solve this issue by coming Wednesday. Also, we will release a plugin update in which the above issue will be solved.

    So, I will get back to you once we release the plugin update with the fix.

    Regards,
    Kenil Shah

    Thread Starter Jason Chong

    (@dantianhealth)

    6 years, 3 months ago

    Thank you, I appreciate you looking into this!

    Thread Starter Jason Chong

    (@dantianhealth)

    6 years, 2 months ago

    Any luck on this?

    Thread Starter Jason Chong

    (@dantianhealth)

    6 years ago

    Did this get anywhere?

    kiwidecal

    (@kiwidecal)

    6 years ago

    Hi There,

    I am also really keen to get this working.

    It looks like the calculation needs to be updated to be like this
    (Payment Amount + fixed fee) / (1 – percentage)
    So for me it would be
    (Payment Amount + .3) / (1 – .029)

    Cheers

Viewing 7 replies - 1 through 7 (of 7 total)

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