Stripe is a popular payment processing company that makes it easy to accept payments online and manage your cash flow efficiently. Stripe’s fee structure is simple and transparent, and you won’t be charged any hidden fees. However, there’s an application fee that you’ll need to pay before you begin using their services. In this article, we’ll explain what the Stripe application fee is and how much it costs.
What is the Stripe application fee?
The Stripe application fee is a small one-time fee that you pay to Stripe when you sign up to pay. Every Stripe user has to pay this fee, including businesses and individuals. The application fee varies based on your business type, but you can see the current fee when you sign up for Stripe.
How much is the Stripe application fee?
The amount of the Stripe application fee depends entirely on your business type. There are two different business types that you can choose from when you sign up for Stripe: Business or Nonprofit. The Stripe application fee for businesses is $5,000, while the fee for nonprofits is $0.
The Stripe application fee is a one-time fee that you pay only when you sign up for Stripe. You won’t be charged this fee again as long as you remain a Stripe customer.
Who pays the Stripe application fee?
The Stripe application fee is paid by the person who signs up to pay with Stripe. This fee is meant to cover the costs that Stripe incurs when they vet and onboard new businesses and organizations. With such a large and diverse customer base, Stripe needs to carefully screen all new applicants to make sure that they’re legitimate businesses. The Stripe application fee pays for these initial business vetting and onboarding costs.
When to expect your Stripe application fee
If you’re applying for Stripe as a business, the Stripe application fee will be collected when you sign up. If you are applying as a nonprofit, you’ll be asked to pay the fee when you apply.
Note that if you’re planning to apply for Stripe, you need to make sure that you sign up when your business is ready to process payments. Stripe has processes in place to vet and onboard new businesses, and they aren’t quick. If you want to start processing payments through Stripe as soon as possible, make sure to sign up or apply when you’re ready.
How to pay the Stripe application fee
The Stripe application fee is collected entirely online when you sign up for Stripe. To pay the Stripe application fee, you’ll need to provide Stripe with your credit card information. You’ll then be charged the application fee as soon as you sign up. This is so that Stripe can get your fee out of the way and onto the onboarding process with your business.
Should you pay the application fee up front?
If you’re applying for the Stripe business application, you should pay the Stripe application fee upfront. If you’re applying for the nonprofit application, you should save your money and not pay the fee upfront.
The Stripe application fee is a one-time fee that only needs to be paid once. This means that it’s a sunk cost. You don’t need to worry about paying it again as long as you remain a Stripe customer.
Final Words
The Stripe application fee is a one-time fee that you have to pay to sign up for Stripe. The fee varies depending on your business type. The business application fee is $5,000, while the nonprofit application fee is $0. The fee is meant to cover the costs that Stripe incurs when they vet and onboard new businesses and organizations. You can pay the fee online with your credit card. Make sure that you’re ready to collect payments through Stripe before you sign up for their services.
Stripe uses the application fee to reduce the amount of fraud that occurs on their platform. If you’re looking for a payment processing platform, be sure to consider Stripe. They make it easy to accept payments online, and they charge a transparent fee that doesn’t come with any hidden costs.
If you want to simplify your Stripe accounting and make sure there are no errors in your records, consider using Synder – an all-in-one source of truth about your business. Synder integrates with QuickBooks Online, QuickBooks Desktop, Xero and ensures accurate recording and categorization of business transactions from Stripe, including fees. Make sure that when it comes to reconciling your accounts you’re on the safe side. Let automated software help you!
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1/22/24
What is the fee when using Stripe through a third party (BigCartel) for example? I recently was charged a Big Cartel Application fee but do not see any documentation about this on Stripe or Big Cartel. With with the easy intergration, clearly the two companies have talked.
Hi Matt, when using Stripe through a third-party platform like Big Cartel, the fees can vary based on the agreement between Stripe and the third party. The Big Cartel Application fee you mentioned might be specific to the integration or services offered by Big Cartel when processing payments through Stripe. Typically, Stripe charges a standard processing fee for transactions, but third-party platforms may add their own fees for the additional services or integrations they provide. If you haven’t found documentation on either site, reaching out directly to Big Cartel’s customer support would be the best course of action to understand the specific nature and justification of the application fee you were charged. Best of luck!