FreshBooks Payments powered by Stripe is one of our many online payment processors, also known as payment gateways, to allow businesses in Canada and the United States to receive online payments. Online payments using FreshBooks Payments can be accepted with all major debit cards, credit cards, and bank transfers (ACH) from clients in over 190 countries and 135+ currencies.
Note: FreshBooks Payments powered by Stripe is only available for businesses in Canada and the United States. International businesses can use Stripe Standard instead.
FreshBooks Payments Details
- Availability - For businesses in Canada and the US
- Transaction Fee - Review FreshBooks Payments’ list of transaction fees for United States or Canada
- Set Up - Quick to create an account, no setup, monthly, or cancellation fees
- Processing / Payout Schedule - Payout speed depends on your business’ location and method of payment, review payout details
- Statement Descriptor - Your clients will view “business name” on their statements, to edit this anytime, review the Access Your FreshBooks Payments account section
- Chargebacks - A $15 dispute fee is charged for each dispute, review disputes and chargebacks
Set Up FreshBooks Payments
Before you set up FreshBooks Payments, make sure you have the following information ready:
- Business background and contact details - Industry, job title, business website or social media
- Business controller and owner details - Address, phone number, date of birth, last 4 digits of Social Security Number (SSN) or Social Insurance Number (SIN)
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Bank account details
- Canadian businesses - Institution number, transit number, account number
- US businesses - Your online banking’s login information
Set up your FreshBooks Payments account in your Online Payments settings with the below steps:
Heads Up: If you need to restart your FreshBooks Payments set up anytime before you select Agree and Submit at the end of the below steps, select the ← Return to FreshBooks link inside the Stripe set up, then select the Restart Setup button in the Online Payments settings.
- Ensure you have a country selected in your Basic Information settings first
- Go directly to Online Payments here, or select the Settings section
- Under Payments and Client Billing, select Online Payments
- Next, select Get Started with Online Payments
- The email address associated with your FreshBooks account will be pre-populated
- If this email address is incorrect, select the ← Return to FreshBooks link
- Then select the Restart Setup button in the Online Payments settings
- Next, select Get Started with Online Payments
- Enter in a new email address for your FreshBooks Payments account
- Otherwise enter in a new Password for your new FreshBooks Payments powered by Stripe account and select Next
- Enter a Phone Number, then select Send text
- Or if needed, select the authenticator app link to use an authenticator app
- Or if needed, select the security key text to use a security key
- If asked to verify with a verification link via email, the verification link must be copied and pasted in the same browser window as the one FreshBooks Payments is being set up in
- Then enter the Code from your device or authenticator app, or use the security key
- Next, save your emergency backup code by selecting Download code or Copy Code and store it somewhere safe
- Select Next
- Enter a Phone Number, then select Send text
- Choose your Type of Business, then select Continue
- For personal details, enter your First Name and Last Name as specified on your government-issued ID or with government agencies like the IRS or CRA
- Then enter your Email Address, Job Title, Date of Birth, Home Address, and Phone Number
- For US-based businesses, enter the Last 4 Digits of your Social Security Number
- Then select Continue
- For business details, if available, enter a Tax Number
- Next, choose an Industry
- If needed, enter a Website - note that if you enter an eligible website, the website must include the following:
- A website that is active and not under construction
- The business name clearly displayed and matching the business name of your Stripe account
- Showcases your business’ product and/or services with descriptions, images, or listings
- Clearly states pricing details
- A visible refund or cancellation policy
- Fulfillment information on delivery timelines and digital access processes
- A way for clients to contact the business by phone, email, and/or contact form
- Next, include a Product Description of what products or services your business sells
- Select Continue
- Next, choose an Industry
- For your bank information, either login to your bank account online and choose an account, or enter your bank account's details manually and select Continue
- For your public details, specify a Statement Descriptor and Shortened Descriptor that will appear on your clients' statements
- Next, review or enter a Customer Support Number, and if available, a Customer Support Address
- Then select Continue
- In the review section, ensure your information is correct, then select Agree and Submit. You'll be taken back to FreshBooks.
FreshBooks will review your submission and notify you by email if your application review is approved or if additional documentation is required.
FreshBooks Payments Set Up Notes:
- Once your FreshBooks Payments powered by Stripe account has been set up, review How do I manage my FreshBooks Payments account? for information on your account’s status, payouts, disputes, and more
- Once your FreshBooks Payments account’s Online Payments status is set to active, you can begin accepting payments on your invoices, recurring templates, and more
- Your Payouts status must be set to active to receive the payments in your connected bank account
Activate FreshBooks Payments on Invoices
Once your FreshBooks Payments account is active, you can begin accepting payments with FreshBooks Payments using the below steps:
- When creating an invoice, under Settings, select the Accept Online Payments option
- Under FreshBooks Payments, check off any box(es) to allow your clients to pay by any of the below methods:
- Credit and Debit Cards
- ACH Bank Transfer - Available for US businesses and clients only
- Buy Now, Pay Later - Available with Affirm for Canadian and US businesses, and with Afterpay for US business only
- SEPA Bank Transfer (EUR) - Available on EUR invoices only
- If you want your clients to be able to pay the invoice partially with credit cards, bank transfers, and/or payment schedules activated, check off Allow Clients to make partial online payments for this invoice
- Select Done to finish applying the payment settings and continue editing the rest of your invoice.
FreshBooks Payments Notes:
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Client Experience - To view what the experience looks like for your clients when paying by FreshBooks Payments, review any of the following:
- Credit Cards and Bank Transfers - Review As a client, how do I pay an invoice with online payments?
- Apple Pay or Google Pay - Review As a client, how do I pay with Apple Pay or Google Pay?
- Buy Now, Pay Later - Review As a client, how do I pay an invoice using Buy Now, Pay Later?
- SEPA Bank Transfer (EUR) - Review As a client, how do I pay with Direct Debit?
- Online Payments - Only one payment can be processed at a time on an invoice to prevent accidental double payments
- In-Person Online Payments - To collect in-person online payments, use Checkout Links on the FreshBooks Android app or FreshBooks iOS app and generate a QR code
