... | ... | @@ -18,9 +18,9 @@ How and when platform fees apply depends on the mechanism used (see below). **St |
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Stripe ordinarily charges 2.9% + 30 cents of all transactions; inLeague has negotiated this down to 2.7% + 30 cents for all of our customers.
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These fees are non-refundable, **except** when the transaction is refunded prior to 'settling.' This is usually within the first 12 hours after the transaction is made. There is no fixed time when transactions settle, but account holders can reach out to Stripe to request a specific time window. Refunds issued against transactions that have not settled are considered **voided** and will appear only as temporary authorizations on the credit card before 'falling off' the statement completely.
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While it was once the case that Stripe fees were not charged on transactions refunded prior to 'settling' (within the first 12-24 hours after the original charge), this is no longer the case. **Stripe fees are non-refundable.**
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Once a transaction has settled, Stripe (and inLeague) will still allow a full refund, but the league is responsible for the Stripe Fee 'portion' of the transaction.
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Stripe (and inLeague) will still allow a full refund, but the league is responsible for the Stripe Fee 'portion' of the transaction.
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**Example**: A parent donates $100 to the league on Monday. Stripe deducts (0.27 * $100) + 0.30 == $3.00. The league nets $97 to their Stripe account balance. On Friday, the league refunds the full $100 to the parent. The league "nets" **-$3.00**, which is subtracted from their Stripe account balance (or their bank account, if they do not have a positive Stripe account balance).
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... | ... | @@ -46,9 +46,7 @@ The following example scenarios do not include the National Player Fee, which is |
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**Example 1b**: The player from example 1 returns a week later and re-registers, but the fee has gone up to $250. They receive the platform fee credit of $9 and inLeague deducts $1.50 (the difference between $9 and their new platform fee of $10.50). The league nets **$226.75** ($200 (original fee) - $5.70 (Stripe) - $9 (inLeague) - $200 (refund) + $250 (second registration) - $7.05 (Stripe) - $1.50 (inLeague)).
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**Example 2**: The player was waitlisted and drops a week after registering. If the league issues a full ($200) refund, the platform fees are refunded and the league nets **-$5.70** ($200 - $5.70 - $200).
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**Example 3**: The player was waitlisted and drops thirty minutes after registering. If the league issues a full ($200) refund and the transaction has (most likely) not yet settled on Stripe, the league nets **$0.00** as all Stripe fees and platform fees are refunded.
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**Example 2**: The player was waitlisted and drops after registering (whether 30 minutes after or two weeks -- this makes no difference). If the league issues a full ($200) refund, the platform fees are refunded and the league nets **-$5.70** ($200 - $5.70 - $200).
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## Event Signups (Players or Users)
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