Stripe - Enabling Bank Payments

Bank payments allow you to offer a different payment method for recurring memberships. This gives your customers another option to pay for their membership and the fees tend to be significantly lower for your organization. Bank payments are only supported for recurring memberships.

Please note, bank account payments typically take 2-6 days to complete, during which the membership will be in the "payment processing" state. Memberships which have processing payments are usable for entry.

Below are the listed rates for bank payments on Stripe as of March 1, 2023:

US: ACH Direct Debit, 0.8% capped at $5.00
UK: Bacs Direct Debit, 1% 20p min, capped at £2
Canada: Bank debits and transfers, 1% + C$0.40 capped at C$5
Australia: BECS Direct Debit, 1% + A$0.30 capped at A$3.50

These numbers serve as an estimate for bank payment fees in your country. Check your own Stripe account for the most accurate information.

To enable Bank Payments for your organization follow these steps:

Go to Payment Processor Connections under Admin. Select the payment processor connection for which you would like to enable bank payments.
Select "Enable bank account payments". In order to use this, bank account payments must also be enabled on your Stripe account. If bank account payments have not been enabled in your Stripe account you will receive an error message when trying to save.
Customers may now select to pay with a credit/debit card or bank payment when purchasing a recurring membership.

Check your own Stripe account to see if there are any limits on the volume of bank payments you may process in a month (this varies by country, how long you have had a Stripe account and the volume of transactions in your organization).

Requiring Bank Payments

As bank payments have lower transaction fees, your organization may decide to require recurring memberships be paid via bank payments.

To require Bank Payments for your organization, follow these steps:

Go to Payment Processor Connections under Admin. Select the payment processor connection for which you would like to require bank payments.
Select "Enable bank account payments". In order to use this, bank account payments must also be enabled on your Stripe account. If bank account payments have not been enabled in your Stripe account you will receive an error message when trying to save.
Select "Require bank account payments for recurring memberships". This will remove the option in the Climber App to purchase a recurring membership via credit card. It will also disallow updating a recurring membership's payment method to a credit card.

Please note, switching to requiring bank payments will not impact any existing members that have a membership paid with a credit/debit card. They will continue to be paid with the card attached their membership, but if they chose to change the payment method only bank payments will be allowed.

Turning Off Bank Payments

If you have decided to remove the option for recurring memberships to be paid with a bank payment, follow these steps:

Go to Payment Processor Connections under Admin. Select the payment processor connection for which you want to turn off bank payments.
Deselect "Enable bank account payments.

Please note, this will not impact existing customer recurring memberships that were paid for via a bank payment. This only prevents new memberships from being able to be purchased via bank payment.