Stripe takes like $200 from me on every payment for my little side project. Tiny one man business, seems really absurd to me.
Stripe increases fees for EU and UK-based businesses in April
151–160 of 244 posts
Re: Stripe increases fees for EU and UK-based businesses in April
#152This ain't as bad as international PayPal... We (EU company) have clients paying from abroad via PayPal. I can't figure out what to do with this. We're being hit with 4.7% PayPal international fee, then ~ 3.75% fee to convert USD to our local currency to withdraw to our bank account. (PayPal won't let us withdraw USD.) Then another 2-3% to convert it back to USD in our bank to pay our supplier in USD. Imagine the tot…
Have you thought about charging customers in Euro? Anytime I (an EU citizen) buy something from a US company, I'm charged in USD and have to cover the conversion fee. So why not do the same?
Re: Stripe increases fees for EU and UK-based businesses in April
#153Earlier quoted context omitted.
We use Wise but their USD accounts are US-domiciled. So we have 3 options: - Continue paying out to Wise and incur an additional 1% fee (~$30k per year) - Use Stripe for currency conversion which is additional 2% fee (~$60k per year - Find a UK-domiciled USD account to pay out to. Might be possible - no idea really. Need to look into it.
> Find a UK-domiciled USD account to pay out to. Might be possible - no idea really. Need to look into it. FWIW one of these was readily available from my existing bank (Barclays) last time I needed one (~10yrs ago). Bit of hoop-jumping to go through, but definitely worth it for $30k/year.
Thanks, we'll speak with Barclays then :)
Re: Stripe increases fees for EU and UK-based businesses in April
#154Earlier quoted context omitted.
In Finland with my fairly large bank the barrier is pretty much same if the card isn't already saved. Actually SEPA is easier as I only need to log in and confirm instead of having to provide CC details and log in to confirm the transfer.
Yeah this. SEPA (e.g. what is known in the Netherlands as Ideal) is easier than entering cc numbers. Unlock phone, open app, scan qr code, enter pin on phone, click OK. Much nicer and faster than entering 16 + 3 numbers, and don't even get me started on 3DSecure or whatever it's called bullshit.
Brilliant. I hope we can get closer to this state side with FedNow instant payments coming soon.
Re: Stripe increases fees for EU and UK-based businesses in April
#155Earlier quoted context omitted.
Also, as far as I can understand https://stripe.com/docs/disputes/how-disputes-work , Stripe doesn't actually do anything manual in the process, it's all handled by the users bank or automatically by Stripe (notifications, taking fees and so on). So how it got more expensive for Stripe?
Stripe is charged every time a user faces a dispute. These fees have been increasing in recent years. Managing disputes is also a costly and manual process for our users. So we’ve invested heavily in ways to help mitigate disputes from occurring in the first place with Stripe Radar (incl. by default), or by using Chargeback Protection (where we cover the disputed amount and waive any fees without needing to submit an…
Note that you are already incurring extra fees for those services, so saying you need to increase the price of chargebacks to cover development fees doesn’t ring very true to me.
Re: Stripe increases fees for EU and UK-based businesses in April
#156Oh, so I'm going to pay more for customers who have "premium cards"?
> Standard EU cards: 1.5% + €0.25 per transaction > Premium EU card: 1.9% + €0.25 per transaction
That sounds completely backwards. They chose to have premium cards, not me.
Re: Stripe increases fees for EU and UK-based businesses in April
#157Earlier quoted context omitted.
> Stripe is charged every time a user faces a dispute. Is this charge returned to Stripe if the bank rules in the favor of the Stripe user? Or did that change recently as well, as now Stripe won't hand back the fee in case the dispute is overturned. Thanks a lot for jumping into the thread with some more facts.
That's right. Stripe is charged regardless of the dispute outcome (the networks don't refund the fee). So our focus is twofold: prevent disputes from happening in the first place and help users manage them if/when they occur.
Yes but doesn't Stripe pass that fee on to the merchant ? If a dispute is lost, the fees are not returned back to the merchant so I assume Stripe uses that to pay the network.
Re: Stripe increases fees for EU and UK-based businesses in April
#158Some European alternatives you might be able to find/negotiate better fees with: - mollie (Netherlands) - adyen (Netherlands) - Klarna (Sweden) - Paylike (Denmark) - Mangopay (Luxembourg) - Quickpay (Denmark) (added in edit) The ones I've tried of those, have an OK development experience, maybe not as polished as Stripe, but much better than the alternatives that were around before Stripe (huge hassle back then). Ide…
> This strikes me as weird.
It’s very normal. It’s why a lot of services immediately ban you for life if you ever issue a chargeback (regardless of validity).
Stripe was the sole sensible service out there (that I know of) where chargebacks wouldn’t hit a small business as hard as long as they could prove they were in the right.
But it seems Stripe is becoming everything it originally railed against.
Re: Stripe increases fees for EU and UK-based businesses in April
#159Re: Stripe increases fees for EU and UK-based businesses in April
#160This ain't as bad as international PayPal... We (EU company) have clients paying from abroad via PayPal. I can't figure out what to do with this. We're being hit with 4.7% PayPal international fee, then ~ 3.75% fee to convert USD to our local currency to withdraw to our bank account. (PayPal won't let us withdraw USD.) Then another 2-3% to convert it back to USD in our bank to pay our supplier in USD. Imagine the tot…
Have you thought about charging customers in Euro? Anytime I (an EU citizen) buy something from a US company, I'm charged in USD and have to cover the conversion fee. So why not do the same?
The point is, we're in the Czech Republic, so charging in Crowns is not an option. And we wouldn't be able to get Euro out of PayPal anyways, only Crowns.