What is Stripe?
Stripe is a payments platform we have integrated into TutorCruncher. It allows you to take payment from your clients and pay your tutors automatically. For our UK companies, the biggest benefit of the this integration is that it allows companies to act as Employment Agencies.
How do I sign up to Stripe?
If you currently use Stripe and wish to migrate to this new version, please see the question below "How do I migrate to the new version of Stripe?"
In order to link your TutorCruncher account to Stripe , you will first need to sign up for a Stripe account in your branch settings. If you head over to Settings > Payment Integrations, there is an option there for Card Payments with Stripe.
If you do not have the option for "Card Payments with Stripe", then you will need to [email protected] or open a support ticket to get it enabled for your account.
From here, select the 'Connect to Stripe' tab.
This will then redirect to you Stripes website, where you will be able to either setup, or login to your Stripe Express account.
Once those details have been entered, you'll be redirected to TutorCruncher's website & your Stripe account will be fully linked to receive card payments from your clients.
If you want to simultaneously pay your tutors when clients make payment for their completed lessons, then you can use our split payments feature. You can read more about that feature just here.
Can I link my current Stripe account to TutorCruncher?
You can't link your current Stripe account to TutorCruncher, but you can migrate all of your old customers to the new account. Simply follow the steps in the question below "How do I migrate to the new version of Stripe?"
How do I change to the new version of Stripe?
There are a few steps you must complete in order to transition from your existing Legacy Stripe account to the new Stripe system within TutorCruncher. These are:
Go to System > Settings, and click Card Payments with Stripe. If you have registered with Companies House and have a Company Registration Number (CRN), you must enter it on that page. If you are sure that you do not have a CRN, tick the box for "I do not have a CRN". Click "Connect to Stripe".
If you have customers on your current Stripe account that you would like to migrate to the new one, follow the steps below under "How do I copy (migrate) my customer's card details onto the new version of Stripe?"
That's it! You're now connected to the new version of Stripe!
How do I copy (migrate) my customers' card details onto the new version of Stripe?
If you want to move payment details from your existing Stripe account (Source Account) to your new Stripe account (Destination Account), then you will need to request a Data Migration.
1. Login to your legacy Stripe account, the account which has all of your current customer details saved to it.
2. Go to this link and create an migration request within Stripe from your source account. Fill the form in like so:
Your account name
What do you need help with?
You are currently logged into X, with account ID: <your account id> You will need this value later.
What type of data migration can we assist you with?
Copy Data from one Stripe account to another Stripe account
Now click "Send Email"
3. Email us as at [email protected] to let us know you will be migrating users over to your new Stripe account. You should have received an email from Stripe telling you they are starting the process. The email contains a migration request ID in the format
migreq_123456789. Please include that in the email to us. If you don't have one, don't worry.
Note: Migrating that data over won't change your workflow, meaning all of your clients payments details will still be saved to their profiles and you can continue to take payment as normal.
If you have any general questions about the migration process before initiating a migration, you can select "Tell us about your other data migration use case" from their support form here.
What Information will I be able see in my new Stripe account?
If you want to view information in your Stripe account, then you can go to Settings > Online Payment Integrations > Card Payment Integrations with Stripe & choose the option for View Stripe Account Details
From your dashboard, you'll be able to see data relating to how much is on the way to your bank account, money you've earned that's not yet paid out, as well as you total earnings as well.
When will I receive money into my bank account?
In order to receive money into your Stripe account, the first thing you need to make sure is that you are issuing Invoices to your clients which you can read about here. In most cases you will be able to see that money is On the way in your Stripe account straight away. You'll then generally see that in your Stripe balance within 3 days. From here, it's then sent to your bank account 7 days later (Meaning you'll receive those funds in 10 days).
How much will it cost to use?
All payments processed through Stripe accounts will be charged at the following rates, including TutorCruncher’s fee:
Is there an added fee for international payments?
There is an added fee for international payments. At what point the fee becomes relevant will depend on the how that client is charged using TutorCruncher.
1.) All international cards are charged at an additional 1.5% of the transaction amount.
2.) If you charge a client in a foreign currency (using Alternative Currency Ad Hoc Charges), this payment will be deposited in the Stripe account of the UK company but will be held separately from their ordinary cashflow, in a separate account balance for foreign currency earnings. Whenever this foreign currency balance is drawn down from Stripe to a local currency bank account, it will incur a 1% currency conversion fee.
Are certain cards charged at higher rates? (Eg. American Express)
Certain card providers, including American Express, cost a lot more to process, so we have to charge a 2% extra fee for payments using those card types.
These cards are: American Express, Diner's Club, JCB, and prepaid Debit/Credit cards.
You do have control over whether or not your company accepts payments from those card types. In order to block all payments made by those card types go to System > Settings > Card Payments with Stripe. Under Settings, there is a checkbox for whether or not you wish to accept those cards as forms of payment.
Is there a Stripe limit?
There is a £2000 limit which can be used on up to 40 payments per month. However, we will set your limit to a double of your average revenue to begin with. We will also set a similar limit for the number of payments that you can make in a month. When your revenue increases, these limits will also increase automatically.
Is there a minimum transaction amount that can be transferred to a bank account?
The minimum amount that can be transferred to a bank account is £1.00
Note: We recommend reading the following if you are a UK based company using Stripe