How do I accept online payments with Stripe Standard?

Stripe Standard works internationally and is one of our many online payment processors, also known as payment gateways, to allow you to receive online payments in several currencies with credit cards including Apple Pay, and bank transfers (ACH).

Stripe Standard also supports Pre-Authorized Debit (PAD) for Canadian businesses, BACS Direct Debit for UK businesses and SEPA Direct Debit for European businesses.

 

Stripe Standard is only available for international businesses. Businesses in Canada and the United States can use FreshBooks Payments powered by Stripe instead.

 

• Stripe Standard Details
• Set Up Stripe Standard
• Activate Stripe Standard on Invoices
• FAQs

Stripe Standard Details

• Availability - For international businesses
• Transaction Fee - Review Stripe Standard’s list of transaction fees
• Setup - Quick to create an account, no setup, monthly or cancellation fees
• Processing / Payout Schedule - Payments are processed and settled depending on whether it’s your first payout or not, if it's a bank transfer (ACH), and your business’ location
• Statement Descriptor - Your clients will view "business_name" on their statements, to customize this, review Stripe Standard's details here
• Chargebacks - Review Stripe Standard’s disputes and fraud process here

 

Set Up Stripe Standard

Set up your new or existing Stripe Standard account in your Online Payments settings with the below steps:

1. Ensure you have a country selected in your Basic Information settings first
2. Go directly to Online Payments here, or select the Settings section
3. Under Connections and Integrations, select Online Payments
4. Next, select Connect with Stripe
5. In the new window, enter your Email and select Next
   
6. If you have an existing Stripe Standard account, enter your Password to log into it
   1. Then choose the account you'd like to connect to FreshBooks and select Connect
   2. Or select Create a new account instead to make a new Stripe Standard account
7. Otherwise, create a new Password to set up a new Stripe Standard account and select Next
   1. Enter a Phone Number, then select Send text
      1. Or if needed, select the authenticator app link to use an authenticator app 
      2. Or if needed, select the security key text to use a security key
   2. Then enter the Code from your device or authenticator app, or use the security key
   3. Next, save your emergency backup code by selecting Download code or Copy Code and store it somewhere safe
   4. Select Next
8. Choose your Business Location and Type of Business, then select Continue
9. For personal details, enter your First Name and Last Name as specified on your government-issued ID or with government agencies like the IRS
   1. Then enter your Email Address, Date of Birth, Home Address, Phone Number
   2. For US-based businesses, enter the Last 4 Digits of Social Security Number
   3. Then select Continue
10. For business details, if available, enter a Tax Number
    1. Then enter a Website that shows your business' online presence, like an online store or social media account
       1. If you don’t have an eligible website that can be submitted, contact Stripe
    2. Next, include a Product Description of what products or services your business sells
    3. Select Continue
       
11. 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 
12. For your public details, specify a Statement Descriptor and Shortened Descriptor that will appear on your clients' statements
    1. Next, review or enter a Customer Support Number, and if available, a Customer Support Address
    2. Then select Continue
13. In the review section, ensure your information is correct, then select Agree and Submit. You'll be taken back to FreshBooks, and Stripe will review your submission. Stripe will notify you by email if your application review is approved or if additional documentation is required. 

 

Note: You can also set up your Stripe Standard account while making a new invoice by selecting on Connect under Accept Online Payments.

 

Paying your own invoice with your own online payment information, also known as self-pay or test payments, is a violation of Stripe Standard's terms of services and may result in your Stripe Standard account being shut down.

 

Activate Stripe Standard on Invoices

Once your Stripe Standard account is connected, you can begin accepting payments with Stripe Standard using the below steps:

1. When creating an invoice, under Settings, select the Accept Online Payments option
   
2. Check off the box(es) next to Accept Credit Cards and/or Accept ACH Bank Transfer (available for US businesses and clients only). If both are checked off, your clients can pay by either credit card or bank transfer on this invoice. If only one is checked off, your clients can only pay by the selected option
   
3. If you want your clients to be able to pay the invoice partially (even with bank transfers or payment schedules activated as well), check off Allow Clients to make partial online payments for this Invoice
   
4. Select Done to finish applying the payment settings and continue editing the rest of your invoice.

 

Notes:

• Stripe Standard has a $6000 USD limit on bank transfers (ACH) for new accounts
• To view what the experience looks like for your clients when paying by Stripe Standard, review As a client, how do I pay an invoice with online payments? here, or review for Apple Pay here
• Only one payment can be processed at a time on an invoice to prevent accidental double payments

 

FAQs

Why are my clients' information in customer profiles inside my Stripe Standard dashboard? 

This is part of our PSD2 compliance with Stripe Standard's current API, where any credit cards that are saved by you or by the client will automatically show up as a customer profile inside your Stripe Standard dashboard. If the customer profile from the Stripe dashboard is deleted, this will cause any of your recurring templates with saved credit cards to fail, and you or the client will need to re-enter the credit card details. This will recreate the customer profile in your Stripe Standard dashboard and the recurring template will continue to generate auto-paid invoices moving forward.

Can I run a report of my Stripe Standard transactions?

To review which individual payments are in each payout that’s been deposited into your bank account, including a detailed breakdown of gross amount and payment fees, you can use the Stripe Payout Reconciliation report. To run a Payout Reconciliation report, use the below steps:

1. Log into your Stripe Standard dashboard
2. Select the Reports section from the left menu
   
3. In the Reports section, select Payout Reconciliation
   
4. If needed, adjust the date range at the top
   
5. Then in the the Payout Reconciliation tile, select the Download button
   
6. For Reporting category, choose between All, Charges, or Refunds
7. Under Columns, choose between Default, All, or Custom
8. If Custom is selected, check off or uncheck boxes to show or hide specific columns on the report, the below columns are recommended:
   
   • Automatic Payout ID
   • Created (requested time zone)
   • Gross
   • Fee
   • Net
   • Description
   • Customer Name
   • Charge ID
   • Payment Method Type
9. Then select the Download button and a copy of the report will be downloaded to your computer.