When you handle payments using LiveHeats, we apply a transaction fee to the payment. This article describes how it works.
What is the transaction fee?
Our default transaction fee for standard accounts is 6%, including taxes. Customers with more advanced requirements, like federations with split payments, will incur a higher fee according to the situation.
How does the fee work?
If you've set the price per division to be $50, when the athlete pays this amount, you will receive $47 in your bank account after the $3 fee. There are no additional fees charged to the athlete.
How about credit card fees, or service fees?
The LiveHeats transaction fee contains all fees, which we pay to Stripe on your behalf. There are no hidden fees to the organiser or the athlete, outside of the transaction fee.
Are transaction fees refunded?
Unfortunately Stripe no longer refunds its processing fees, so LiveHeats can not refund its transaction fees. When processing refunds, you can just refund the net amount to prevent any losses to your organisation.