Need to collect money for a teacher’s gift or for your coach? Or maybe you need to charge for your banquet or you want to collect donations for your local homeless shelter?
We’ve partnered with e-commerce industry leader Stripe to safely and securely process transactions to make your life easier.
Frequently asked questions:
What are the fees for collecting money and who pays them?
- A 5% service fee plus $0.50 per transaction is applied to the total purchase. The buyer pays the fees, which are added at checkout.
Example #1: Teacher Present Contribution = $10/student
Service fees = $10 * 0.05 = $0.50, plus a $0.50 transaction fee
So total service fees = $1.00
Total amount paid: $10.00 + $1.00 = $11.00 of which $10 will be deposited in the Organizer’s account.
Example #2: Sweats for soccer team = $50/player
Service fees = $50 * 0.05 = $2.50, plus a $0.50 transaction fee
So total service fees = $3.00
Total amount paid: $50.00 + $3.00 = $53.00 of which $50 will be deposited in the Organizer’s account.
Is there a minimum amount I can collect?
- We do not account for nor collect sales tax. This is your responsibility as the seller.
- Please review additional tax information in the Stripe agreement here.
- “Buyers” can contact you (the “Seller”) for a refund. They will contact you via an email contact form (your email address will remain private). Refunds are handled via your Stripe dashboard and transaction fees cannot be recouped. How to issue refund here.
U.S. Funds Only
- At this time, our Collect Money feature is limited to U.S. sellers collecting U.S. dollars.
How soon will I be able to start collecting money?
- It takes anywhere from a few minutes to 2-7 days for Stripe to verify your account. They are very careful in order to prevent fraud.
How soon will the money appear in my bank account?
- Payouts are made within 2 – 7 business days for processed payments. Please read more information here about Stripe payouts schedules.