Stripe postings are incorrect

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  • Updated 4 weeks ago
Hi,

I have found the GoCardless and Stripe online payments very helpful when managing the membership fees, they have saved me a lot of time.

GoCardless has been seemless but the Stripe postings are 5p short of the actual figure that gets deducted by Stripe.

e.g. my subscription fees are £50.00 / member

Stripe deducts £0.95 for each transaction
In my postings the Stripe transaction shows as £0.90

Is ClubBuzz accounting wrong or should Stripe be deducting £0.90 instead?

Thanks
James
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Panama Swimming Club

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Posted 4 weeks ago

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Sarah, Admin

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If you refer to the Gold Manual with fees listed for third party payment gateways you will he following explanation

STRIPE Stripe is a global online payment processor that is trusted by thousands of businesses across the globe. Stripe enables your club to accept debit and credit card payments online directly into your bank account from your club website.  This is the best value for money option for card payments.
Stripe charge 1.4% plus 20p per transaction and ClubBuzz take 5p commission per transaction (please check Stripes website to confirm rates before you sign up)   the additional 5p you are referring to is the ClubBuzz commission
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Panama Swimming Club

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Thanks again for the quick response and explanation. Would you expect the 5p to be included in a posting in the accounts though? At the moment it appears I am having to manually post this transaction. I have taken a look and I cannot find any reference to it.