By connecting your Stripe account with Hectic, it’s easier than ever to send invoices and accept payment securely. If you don’t have a Stripe account yet, you’ll be able to create one during the integration process.
Setting up the Stripe integration
In your workspace settings click connected apps then payment providers. Click the Connect with Stripe button to initiate the integration.
You’ll be redirected to Stripe’s website. If you already have a Stripe account, provide the email attached to your Stripe account when requested. If you’re a new Stripe user, you can create a new account.
Once you’ve filled out all the required fields in Stripe, you’ll be redirected back to your Hectic settings. If you just created a new account, you’ll likely see a message that says “Your account isn't fully configured yet.” This just means your new account is still in processing with Stripe; once you’ve been approved, you’ll automatically have access to all the integration’s functionality.
You can click the button “Continue On-Boarding with Stripe” to check your application status at any time.
What to expect from Stripe
If you’re new to Stripe, you’ll need to go through a verification process before you are able to accept payments and transfer them to your bank account. This is largely automated, and you can check the status of the verification check by logging into your Stripe account.
After you receive your first payment through Stripe, your first payout will typically come after a 7-day new account waiting period (although in some instances, the waiting period can be up to 14 days). Following your first payout, you’ll have a more regular payout schedule. In the US, payouts are available 2 days after payment is received for most industries. For full payout schedule details, review Stripe’s documentation here.
🌟 Note: All Invoice payments collected through Stripe + Hectic are charged as “one-time” payments. This means you will not incur the additional 0.5-0.8% fee Stripe charges for subscription payments. If you choose to use the Subscription product within Hectic, additional Stripe fees will apply.
Each payment you accept through Stripe will have fees deducted by Stripe. Hectic does not charge anything on top of their standard fees. Stripe is 2.99% for credit card and 1% for ACH (max of $6 per ACH transaction). Learn more about Stripe’s pricing here.
We know it’s not fun to pay part of what you earned as fees, but many professional freelancers have found that the ease and simplicity of payment platforms like Stripe are worth the cost. The ability to get paid instantly rather than waiting to get on your client’s payroll to get a check in the mail means a more professional offering from your business, less stress, and higher chance of getting paid at all. Rather than absorbing the cost into your own profits, we recommend increasing your rate by 3% to cover these fees or using the "Split Fees" feature under your Client Terms to either pass the fees along to the client or split them 50/50.
More Stripe resources