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Explanation of Stripe Service Fee

Q: How does Stripe work when the fees are being charged to the residents of the condominium?
A: Stripe charges 2.9% plus 30 cents on every transaction and Condo Control Central charges $2 on every transaction. For example the building has a Guest Suite (fee is $100 and the deposit is $250) the resident will pay the following: Booking Service Fee of $5.36 ($2.26 charged by CCC and the rest by Stripe fees) which brings the total to $105.62.

Another example is when the amenity has a Deposit amount (i.e. Service Elevator, Billiards Room, etc.). A resident books the Service Elevator and the deposit is $250. The Booking Service Fee is $2.38 ($2.26 charged by CCC and the rest charged by Stripe) which brings a total of $2.64.

Q: How does Stripe works when the fees are being charged to the corporation instead of the residents?

A: Stripe fees are paid by the corporation and Condo Control Central fee is paid by the resident.

When the Stripe fees are being covered by the corporation, the amenity bookings that has deposit only (i.e. Service Elevator, billiards room, etc.) are only charged the $2.26 from CCC which is being charged to the resident. 

For clarification on Stripe fees, please view the Stripe website.

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