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Long term Stripe customer across multiple companies here. I'm ok with paying for services like this that provide loads of value. I expect there's increasing di
by nfm 6y ago
Long term Stripe customer across multiple companies here.
I'm ok with paying for services like this that provide loads of value. I expect there's increasing diversity in terms of Stripe's customer base and how they use the product, and trying to pick a single percentage price point that works across all of them is no longer feasible.
That said, I'm quite unhappy with Stripe's pricing as an AU customer. We're paying exorbitant rates to convert USD to AUD (think retail bank rates despite transacting multiple millions a year, ~3x what we'd pay Transferwise). There's no option to settle in USD, and a lot of our expenses are in USD, so we then pay another currency conversion fee when we spend.
It's problematic to the extent that we're considering whether the ongoing costs and hassle of setting up a US entity, dealing with international tax, compliance, parent companies etc. would be worthwhile.
- pc 6y agoYep, heard loud and clear. We've been investing a lot in USD (and other currency settlement) in various markets (and actually just released it in Singapore). We're working on it in Australia too.
- TedDoesntTalk 6y agoDo you really need to set up a US entity just to open a US bank account? If not, I would set up a US checking account and settle some portion stripe transactions there. Take that revenue and pay your US vendors. No currency conversions.
- _kyran 6y agoYou can have a USD bank account, but Stripe won't pay out to it, they'll only pay out to an AUD account and take the 2% along the way.
- deleted 6y ago[deleted]
- _kyran 6y agoThis is infuriating. I've been told so many times that it's 'coming'. 5% of top line revenue is pretty significant and now an added 0.5% feels like a slap in the face. Braintree have offered it for years so this might be the final motivation to switch over. It's been around 7 or 8 years with Stripe now and it just seems like they are prioritising heavily increasing their average revenue per user at all costs.
- supah 6y agouse pin payments they can take and settle in USD just ask them and they are an AU company. similar fee structure as stripe 2.x + 30c
- 0xy 6y agoThey also have way more business model exclusions and more onerous terms than Stripe.