Stripe FAQs
Answering frequently asked questions about Stripe set-up and post-setup.
Stripe Set-up FAQs
Do I need to sign a new service agreement with Stripe?
No, our partnership allows us to pass through Stripe services with standard terms of use for their site and the reduced rate that we've negotiated per our contract.
Can our Clients set up autopay?
Yes, you can set this up via Cartwheel, Stripe payments can support: Auto-pay, Bulk Pay, Bank Debits
What are the Stripe Fees/Rates?
All fees included (Cartwheel, interchange, and bank fees), you can expect to pay approximately 2.3% (this is the average, including interchange rates, which vary). The rates vary depending on several factors, including:
- the card type
- transaction method
- merchant category
- processing volume
- card network.
This means you’ll see approximate credit card processing savings of 0.8 to 1% through Cartwheel. Cartwheel charges 0.45% plus interchange.
Here are links to the most cards interchange fee schedules
ACH and bank transfer transactions are subject to bank fees.
Industry average fees (Stripe, Paypal, etc.) are 2.99% and higher.
How are transaction fees processed? Will I see the total billable/paid invoice amount in our bank account?
Cartwheel is flexible. We can configure Stripe based on your preference to:
- Deposit the full amount to your bank. Cartwheel will then charge processing fees as a separate transaction. To opt in to this configuration, you’re required to have autopay details set up inside Cartwheel. Cartwheel payments via Stripe ensures our customers always receive the full amount.
- Deposit the net amount for each transaction.
How do I set up for Stripe to receive payments and pay my monthly Cartwheel subscription?
Step 1: Setting Up Stripe to Receive Payments
- Go to Settings > Integrations in your Cartwheel account.
- Click the ‘Connect’ button next to the Stripe integration.
- Follow the prompts to complete the new account setup with Stripe
Step 2: Setting up Stripe for Your Cartwheel Subscription Payment
- Go to Settings > Billing in your Cartwheel account
- Click ‘Manage Billing’ to confirm your billing details and add a payment method
Note: Please note that a new Stripe account is required for Cartwheel, as we offer special pricing through our partnership with Stripe. Existing Stripe accounts cannot be used for this integration. Once you've completed both steps, you’ll be all set to start accepting payments and manage your Cartwheel subscription seamlessly. If you need any assistance during the setup, feel free to reach out, and we’ll be happy to help!
Does Cartwheel support payment processing for multiple entities (EIN)?
If other companies operate as separate legal entities, and can be identified in invoicing data (i.e., branch, location, region), Cartwheel can set up Parent - Child companies to support payment processing by entity. In order to support this need, we must be able to identify and segment data by entity appropriately.
Do I need to pay for or move through annual compliance activities in setting up Stripe via Cartwheel?
No. This is a standard part of our partnership agreement with Stripe that our payment processing customers benefit from.
Why do I need to add a SSN/IITN when setting up Stripe (TBD)?
As Stripe Documentation outlines, this information is required as part of Stripe’s mandatory identity verification requirement: Stripe must collect, verify, and maintain information on the individuals associated with every US Stripe account, as required by our regulators and financial partners. This is intended to promote transparency and prevent individuals from using complex company structures to hide terrorist financing, money laundering, tax evasion, and other financial crimes. The SSN is usually an officer or financial authority within your organization.
Stripe Post-Setup FAQs
As a Cartwheel Admin, where can I see and report on pending transactions?
Via your Stripe Dashboard. The account creator owns the initial login. Once in, each owner can add the appropriate team members for reporting.
There are limited reporting capabilities, but Cartwheel can schedule a transaction report to send to an individual on your team if needed. Please contact your Cartwheel team for assistance.
You can also track invoice status via Cartwheel and see invoice activity on the invoice in question within the activity feed.
What should I do if a payment seems delayed or missing?
Stripe processes ACH and bank-connected payments through verified financial institutions.
If a payment appears delayed, it’s most often because the customer’s bank account has not yet completed verification or the funds are temporarily held in Stripe pending clearance.
Once cleared, the funds will appear in your Stripe account balance and can be transferred to your bank account through your selected payout method.
How does Stripe handle customer bank connections?
When a payer selects “US Bank Account” during checkout, Stripe first offers secure bank login via Plaid.
If the customer prefers, they can enter bank details manually instead and verify ownership using micro-deposits sent to their account.
Once verified, future payments can be made instantly with one click.
How can customers manually add or verify their bank account?
Customers can complete manual verification at any time:
- Open the Cartwheel invoice and click “Pay Now.”
- Choose “US Bank Account.”
- Select “Enter bank details manually.”
- Follow Stripe’s prompts to confirm two micro-deposits.
- Once verified, all future ACH payments will process automatically.
What are “customer balances” in Stripe?
Stripe maintains a Customer Balance for any payer that pre-funds or overpays an invoice.
If a customer accidentally sends funds to their own Stripe account or has residual credit, Stripe automatically applies that balance to future invoices.
This can sometimes make payments appear as though they were “paid from Stripe” instead of a new transfer.
Why don’t I see my customer’s banking details or routing numbers in Stripe?
For security and compliance reasons, Stripe does not expose customer banking details to merchants.
Stripe confirms verification and payment success but masks all sensitive information.
Cartwheel provides complete payment visibility—including payer identity, payment type, and amount—without exposing bank details.
What payout options are available to my company?
Stripe offers three payout modes:
- Automatic payouts: Stripe transfers cleared funds to your bank automatically, typically within two business days.
- Manual payouts: You control when to transfer cleared funds from your Stripe balance to your bank.
- Instant payouts: Available for eligible accounts; funds transfer immediately for a small fee.
Which payout mode does Cartwheel recommend?
Cartwheel recommends manual payouts during early implementation and reconciliation periods.
This gives your team full control of transfer timing, ensuring funds are fully cleared and reconciled before release to your bank.
Can I see how my customers paid (e.g., card, ACH, wire)?
Yes. Stripe records each payment’s method type—card, ACH, or wire—within the Stripe dashboard.
Cartwheel also surfaces this information in the platform’s Payment History view for easier reconciliation across invoices and customers.
Can I generate my own Stripe transaction reports?
Yes. You can create on-demand reports directly in your Stripe dashboard for any date range. These reports include payment source, method, customer reference, and status details to support internal audit or reconciliation processes.
What is Cartwheel doing to improve payment visibility?
Cartwheel continuously enhances its transaction and payout history to make payment sources, methods, and statuses clearer within the platform. This ensures your finance and operations teams can view complete payment data without logging into Stripe separately.