Hi there. Just wondering what everyone thinks about the Direct Payments by Credit and Debit Card. I currently just have payment option through Paypal and am wondering whether the Stripe Account is worth going ahead with? Would love to hear your thoughts.
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The majority of my sales are with Paypal, but I have sold through Stripe. Not everyone has a Paypal account, so I think the Stripe option is a must have. Stripe’s fees are cheaper than Paypal’s, and Folksy’s own fee is deducted at source when buyers use Stripe. The only downside is that you have to wait a week before you can transfer the funds to your bank account.
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The majority of my sales are paid through Stripe and I now use them to generate invoices to charge my away from folksy customers - none of them has batted an eyelid at using Stripe. Ok you have to wait a week before the money is deposited but I don’t have to remember to go in and organise the deposit it happens automatically unlike paypal. Fees are much cheaper than paypal (something that you really notice at the higher price points).
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Set my Stripe up last week and had a payment through it a couple of days later. So far so good. Waiting to see when the money actually hits my bank account but a few days delay is not an issue and it is cheaper than PayPal
Main concern is delay to customer getting a refund if I need to send a combined postage refund. Not had one yet so waiting to see how quick that Is.
I’ve had several orders with Stripe payment since setting it all up. No problems so far. Money deposited in my bank account within a week. I think it’s worthwhile having the option - before setting it up I had a couple of enquiries from customers who didn’t have a PayPal account - we ended up doing a BACS payment then - Stripe is much simpler and hopefully ‘catches’ those orders which might otherwise have been abandoned at checkout.
I was looking at my bill.,… due in the early hours … and noticed that my balance is a bit higher than my Outstanding. Does this happen with Stripe payments as I have had one which could account for the difference …but I’m getting an error when I try to view my bill… and have been since I noticed it late last night. I have emailed Support but wonder if anyone can confirm that if you have Stripe payments your balance and outstanding differ ?
Can anyone tell me how long it takes for a Stripe refund to reach the customer ?
@folksycontent ??
Not had any need to refund yet as only had one customer use if for a single piece but if anyone orders more than 1 then i will owe them postage. Normally I do it immediately via Paypal but have no idea how long it takes with Stripe. As i refunded an American £30 the other day she might have been a bit annoyed if she had had to wait a week.
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I’ve had lots of orders through Stripe and find it a really good alternative to PayPal.
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I’ve not had to process a refund but according to the stripe website it takes 5 - 10 business days for the refund to appear on their card statement - it depends a bit on their bank/ card provider as some are quicker than others at processing these things. I would expect cross border transactions to take longer than a within the UK one.
Thanks Sasha, I’ll have to wait and see. Think I’ll just add a note to my conditions bumf to say if you pay be Stripe any postal refund might take a few days to get to you.
That’s handy… will now copy and paste what I just typed 
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This is the information I have about refunds through Stripe which comes from the Folksy knowledgebase @JOYSofGLASS:
How will refunds work?
You can issue full and partial refunds in the Payments section of your Stripe dashboard - find out how to refund a customer on your dashboard here https://stripe.com/docs/refunds.
Both Stripe and Paypal issue refunds immediately, although the time they take to show on your customer’s statement varies. Stripe advises that customer will sees the refund as a credit approximately 5-10 business days later. Paypal advises that it may take up to 30 days to complete a refund. The time it takes will depend on the card issuer or bank.
And this is the official info from Stripe itself: https://stripe.com/docs/refunds
Does that help?
Thanks Camilla that’s fine. I always send the customer a note as well as a note on the current Paypal refund, to say how much I’ve refunded so when I need to refund a Stripe I’ll do the same and just hope it gets to them fast. I often get a thank you back for the refund so customers don’t seem to mind being temporarily overcharged. That USA order for which I got the lovely feedback charged £50 postage and I gave her £30 back (even made a 65p profit as I rounded up !) so obviously not a problem there !