It looks like my first transfer will arrive in seven days, but I was expecting to receive funds sooner.
Stripe needs to treat every user's first transfer differently from subsequent transfers. We wait seven days after your first successful charge before sending the first electronic transfer to your bank account. This initial processing time ensures Stripe can verify your business and comply with financial regulations. Delaying your first transfer for a few extra days allows Stripe to address some of the risks that are inherent in providing credit services to our users.
My funds are transferred on a two-business-day schedule. What counts as a business day?
Business days are Monday to Friday, except U.S. federal holidays. For example, under a two-business-day transfer schedule, payments processed on a Friday would arrive in your bank account on the following Tuesday. Similarly, payments processed on a Monday, July 3rd would arrive in your bank account on Thursday, July 6th, due to Independence Day on July 4th.
Stripe says a transfer has been submitted, but I haven’t received the money in my bank account yet. What’s going on?
Stripe submits transfers every day, but most banks will only process the transfer on business days. This means that if Stripe sent you money on a holiday or a weekend, you will probably see the money in your bank the next day your bank is open. For transfers sent on business days, you should see the money for it by the next day.If the transfer was submitted on a business day and you don’t see the money in your bank account within a couple of days, this probably means the transfer failed. Banks take 3-5 business days to inform Stripe about transfers that did not go through, at which time we e-mail you about the issue and how to fix it.
How does Stripe handle processing fees for transactions?
Stripe applies a standard processing fee of 2.89% + $0.30 per transaction. While reviewing your Stripe statement, this total fee may appear under a labeled entry such as the "PushPress Application fee." This is not an extra charge, but rather reflects the processing fee breakdown for your transactions. The fee is calculated proportionately based on the transaction amount.
Refunds do not reverse the original transaction fees. While customers receive their full refund amount, the business absorbs the initial processing fee associated with the transaction. No additional fees are charged for processing the refund itself.
Why is there a discrepancy between what I refunded and what was deposited?
When you refund a transaction to a customer, you might notice a discrepancy between the refunded amount and the balance deposited in your account. This occurs because Stripe subtracts the processing fee from the total amount before making the deposit to your account. However, refunds to customers are returned in full, which means your business bears the processing fee for the refunded transaction. Additionally, refunds are typically processed within 3-7 business days for credit card payments and 4-5 business days for ACH payments. However, if a refund needs to be canceled, businesses can attempt this directly through their Stripe account. To do so:
Log into Stripe.
Use the refund filter in the payments section to locate the ongoing refund.
Check if the option to cancel the refund is available. The success of refund cancellation depends on whether the payment processor has already begun releasing the funds, so prompt action is crucial. For cases involving Flex Fees, PushPress does not offer credits or reimbursements for these associated fees. Businesses have the flexibility to either invoice members to cover these fees or forgive the charges, depending on their operational needs and preferences.
About PushPress
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