What You Need to Know About Stripe Account Fees

The ChurchSpring Giving setup is the same as creating a Stripe account since your ChurchSpring Giving platform is built with Stripe as the funds' processor.  

Even though ChurchSpring does not add any fees, there are a few areas within your Stripe account of which you need to be aware.

How Does This Apply to My Ministry?

In a nutshell, Stripe is making the following changes to their fees...
  1. Any international donations made to your US ministry through Stripe will have an international card transaction fee of 1.5%.
  2. If a website donor disputes the amount that they donated to your ministry, Stripe will charge you a non-refundable $15.00 dispute fee.
  3. Stripe's system automatically updates new credit card information for your account. This update will cost you $0.15 each time it happens. You can turn off this update option (network tokens) in your Stripe dashboard.
  4. If you have a custom pricing account with Stripe, the card account updater will be charged $0.25 for each card update.
  5. Based on your US location, Stripe will charge you tax if you are using any Stripe products or services. These products would include Software-as-a-Service products, fraud prevention, reporting products, and analytics products.

For more in-depth information, the following statements and links are taken directly from a Stripe email alert dated  March 2, 2023 .
What’s changing (as of June 1, 2023):
  1. International card transaction fees for all US businesses on standard pricing: Over the past few years, card networks have increased the total fees that Stripe pays for card processing. Because of this, starting June 1, Stripe’s additional fee for international card transactions will change from 1.0% to 1.5%. There’s no change to our standard 2.9% + $0.30 pricing for US card transactions. Learn more about ways to reduce costs while growing globally.
  2. Disputes for US businesses on standard pricing: Regardless of whether a dispute is won or lost, Stripe is charged a fee by card networks. To cover these costs, starting June 1, Stripe will no longer return the $15 dispute fee for successfully contested disputes. The dispute fee itself is not changing. Learn more about how Stripe can help prevent and fight disputes.
  3. Network tokens fees for businesses on custom interchange pricing: Network tokens automatically update payment details when old cards expire so your customers don’t need to re-enter anything and you capture more revenue. We’ve automatically turned on network tokens for you and your connected accounts so you can benefit; however, because Stripe incurs costs to create and maintain tokens on your behalf, starting June 15, Stripe will charge $0.15 for each newly provisioned network token. You can turn off network tokens from the dashboard if you prefer. Learn more about the change and how network tokens increase revenue by 0.4% on average.
  4. Card account updater for businesses on custom pricing: Card account updater helps ensure you always have the latest card information on file, including when network tokens aren’t yet supported by a customer’s bank. Card account updater has been a paid product since it was introduced and starting September 1, all businesses on custom pricing using card account updater will be charged $0.25 for each card update in line with current pricing. Learn more about how card account updater increases revenue by 0.6% on average.
  5. Sales tax for US and Canadian businesses: Certain US states and Canadian provinces require us to collect sales tax on certain Stripe products. On June 1, we’ll begin collecting sales tax where applicable based on your business location, which you can review in the dashboard. Payment processing fees are generally not subject to sales tax. Learn more.

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