17hats itself does not charge any transaction fees, but the payment merchant you connect with will have a fee per transaction. This is typically 2.9% + $0.30 per transaction, but may be different depending on your location.
Stripe allows you to also accept ACH Payments which cost 0.80% and are capped at $5, with no monthly fees or verification fees. This is paid directly to Stripe (your merchant account) as their processing fees.
When you connect with Stripe, they'll require you to give them your business details, bank details, and have you set up your Credit card statement details.
You will need to fill out as much information as possible on this page for their “Know Your Customer” (KYC) obligations. Stripe is required by law to complete what's called a KYC (Know Your Customer) survey for every business that signs up with them. This involves completing in-depth reviews of every single business, including what you're selling, how you intend to sell it, your own description of your products and services, your website, and a number of other details. The information you provide is reviewed internally by Stripe to ensure it complies with their services agreement. If Stripe needs any further information, they'll get in touch right away.
For more information on activating and managing your Stripe Account please click the button below.
Stripe will review your business account which generally takes 24-48 hours. After their review, you'll be able to start taking payments.
Please be aware, if Stripe needs further information and you do not respond, funds collected may be held. To ensure activating your Stripe Account goes smoothly, please read their Account Checklist article by clicking the button below.
You can also click the button below to learn more about their required verification information needed.
It's also important to note that a hold can happen on an account for various reasons. Stripe accounts are not put on hold unless something is flagged, such as a TIN not matching, or if your business is on their Restricted Business list.
Maintaining the Connection between 17hats and Stripe
When you first connect 17hats to Stripe, a connection token will be generated by Stripe. This token typically lasts a month and will need to be refreshed to continue taking payments with Stripe.
To refresh the token, simply disconnect Stripe from within the Invoice Options page of your 17hats account. Once disconnected, refresh your page and reconnect your Stripe Account.
This token should last for a year and will need to be refreshed yearly. You can access your Stripe account’s API keys by navigating to the Developers section of the Stripe dashboard and clicking on API Keys.
Other questions? Reach out to our Business Support Team via Live Chat or Email Monday through Friday 7am-4pm PST.