If my user is charged and then is refunded almost immediately by my app, does stripe charge a refund fee to my app? If so, how much is the refund fee?
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I have a question regarding stripe refund behavior.
Let's assume that a user requested a refund of amount 300$.
current Stripe balance = 100$
current Bank balance = 100$
I know our refund request will go into the pending state as we have an insufficient balance but
Will stripe deduct these 200$ for now and 100$ for later? OR
stripe doesn't deduct these 200$ and will deduct 300$ as a whole when our account gets sufficient balance.
Based on this support FAQ, your Stripe balance would be debited and go negative, but the refund would be pending until you topped up your account or collected more payments to restore your balance to positive.
You should contact Stripe support for more questions about this: https://support.stripe.com/contact
I have built application that similar to to freelancer marketplace. I want to when user earn money thorugh my marketplace. A buyer only can pay using their card, which is already implemented with stripe
and a seller should be able to withdraw their money to direct their bank. But i didn't notice such a feature on the stripe.
I notice stripe refund method to refund funds, which i dont want, coz, i am not going to refund money to any user buyer. I just want to send the seller bank account directly from my stripe account
How can i do it?
I notice this, but i dont want it all
charge = await stripe.charges.refund(charge.id, {
amount: 1000
});
You need to read about Connect, Stripe's product to help you build marketplaces like you describe. Your seller would have a connected account and you'd send them money with payouts.
I have a connected stripe account. Example transaction looks like this:
Charged to a customer: 69.00PLN
Application fee: 10.35PLN
Stripe's processing fee: 2.31PLN
Profit for the connected account: 56.34PLN
The customer agreed that if applicable, the service can be refunded, but the amount that was paid (here 69.00PLN) will be reduced by Stripe's processing fee – we do not want the Connected Account to pay for it.
When I issue a refund from within the connected account dashboard, it looks like this (the amount entered is 69.00 - 2.31 = 66.69):
After the refund is processed, the net value for the connected account looks like this:
Question:
Is it possible to refund the value reduced by Stripe's processing fee, without touching the application fee? I just want to fully refund the application fee + profit for the connected account.
The answer here is to first refund the fee (here 10.35PLN) from the main Stripe account and then refund the rest (66.69PLN) from the connected account.
I'm trying to work out the correct method of attributing payments on invoices that are automatically created after a user purchases something on site, payment handled by Stripe (or other payment gateway). Here is the current flow from user action to Xero interaction (all working fine):
User purchases membership on site
Payment is processed by Stripe on-site
If payment is successful, an Invoice is generated in Xero (and a contact if it doesn't exist)
Payment is added to the invoice immediately after it is generated, and it's status is set to Paid.
Paid invoice is emailed to new member from Xero
Stripe deposits money in nominated business account each day
I have two questions about this workflow
What is the normal practise for dealing with PaymentAccount when applying a payment? Should we create a new payment account just for Stripe? A new "Bank" account for Stripe? The context of this question is selecting the correct PaymentAccount ID for the payment when creating the invoice.
Will reconciliation still be possible for these paid invoices when Stripe sends payments (assuming they send itemised payments)? Even if the money is deposited in a different (Real) account integrated in Xero?
Thanks
Your questions about stripe are more appropriate in Xero forums, since they are bookkeeping questions not API qestions.
Stripe can provide a bank feed to Xero, and you should set this up.
This means you have a Stripe bank account, which is the therefore the payment account. Payment reconcilations are easy (but can't be done via API).
The actual deposit of real money into a real bank account will be a consolidated amount typically called a 'settlement', typically one day of transactions, less fees, refunds and possible timing issues etc. The Stripe bank feed will have an entry for this. It is reconciled by a Xero user as a bank transfer between the Stripe bank and the real bank, and is nothing to do with the payment on the invoice.
So in our app, we do not charge immediately but simply create stripe charge with capture set to false so that customer is not charged instantly.
Question: Should we still issue a Refund for the customer (in case of app/db error) despite the fact that we created a charge in un-captured mode ?
Thanks for the help
Ideally, yes, you should. "Refunding" an uncaptured charge will cancel the authorization and release the funds on the customer's account.
If you don't refund the uncaptured charge, the authorization will automatically expire after 7 days, but that's not very customer friendly. You should always try to either capture or refund uncaptured charges as soon as possible.