... | ... | @@ -20,7 +20,7 @@ Stripe charges 2.9% + 30 cents of all transactions; inLeague has negotiated this |
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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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Once a transaction has settled, Stripe (and inLeague) will still allow a full refund, but the league is responsible for refunding the Stripe Fee 'portion' of the transaction.
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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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**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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