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How do Storefront Fees work?

There are 2 independent fees for using Storefront:

  1. Credit Card Payment - 5% of the total transaction
  2. Offline Payments - 20 credits: $100, 50 credits: $225, 100 credits: $400

 

Credit Card Payments

The standard fee for using a Checklick Storefront is a 5% (Fee will be changed to 4.9% as of January 1, 2021) charge on each customer's purchase, for all card types, including reward cards and AMEX. This charge is subtracted from the funds transferred from our payment processor Stripe to your organization's bank account. 

As an example, when a customer pays $100 for a product, your organization is charged 5% of the payment. $95 is transferred to your bank account, and Checklick receives $5. This process is done automatically by Checklick.

 

Credit Card Payment Refunds

Refunds are free however, as of January 1, 2021, a new Refund Fee of 3.5% will be introduced. No matter how many times you refund a payment, you are only charged for the net payment. 

Using an example of a $100 full refund, when you process a refund back to your customer’s credit card using the refund functionality through Checklick, the customer's card will be credited with the full $100; $95 is returned from your bank account, and the $5 fee charged by Checklick is refunded as well. 

Likewise, with partial refunds, your 95% and Checklick's 5% is returned back to the customer.

 

As of January 1st, 2020, the refund fee will be charged as follows as per the example above.

Using an example of a $100 full refund back to your customer, when you process a refund back to your customer’s credit card using the refund functionality through Checklick, the customer's card will be credited with the full $100; $95.10 of the original purchase is returned to the customer and the $4.90 purchase fee charged by Checklick is refunded as well. Checklick will then withdraw $3.50 from your bank account for the 3.5% Checklick refund fee.

Likewise, with partial refunds, your 95% and Checklick's 5% is returned back to the customer while Checklick withdraws 3.5% from your bank account for the refund fee.

 

 

Credit Card Payment Transfers

When you use the Checklick functionality to transfer your customer from one product to another, your customer is charged the net difference and the net fee paid to Checklick is always 5%.

 

Example 1

Jane Doe is transferred from Course A (cost: $100) into Course B (cost: $150). Since your customer already paid for course A, once they are transferred into course B, they are charged $50 with $2.50 withheld for the Checklick 5% fee and $47.50 deposited into your Bank account.

 

Example 2

Jane Doe is transferred from Course A (cost: $150) into Course B (cost: $100). Since your customer paid more for Course A than the cost of Course B, they are refunded $50 with $2.50 withdrawn from Checklick and $47.50 withdrawn from your Bank account and the total net difference of $50 is refunded back to your customer.

 

Offline Payments

Since you are responsible for collecting payments for any offline payment registrations, there is no fee for any refunds or transfers using the functionality in Checklick.

Checklick provides the functionality to record and track refunds and transfers however, the money exchange is managed by you.

The difference between Credit Card Payments and Offline Payments is explained here.

 

Offline Payments Refunds 

Since Offline Payments are purchased in credits, when you issue an Offline Payment refund, you do not get a refund of the offline payment credit.

As an example, if you have purchased 50 Storefront credits and a customer made an offline payment purchase, you are now left with 49 credits.

If the initial Offline Payment purchase that your customer made was $100 and you initiate a refund for it, you do not receive the 1 Offline Payment credit back and will have 49 credits left.

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