When accepting payments or donations through Connection Card Pro (and using Stripe as your payments partner), here's what you can expect to see on your bank statements.
Overview
When accepting payments through Connection Card Pro, your organization is set up with an custom Stripe account for payment acceptance.
Although we handle everything for you through Connection Card Pro and you will normally not receive any communication with Stripe nor have access to a Stripe dashboard/portal, you may still see Stripe mentioned in various places.
Payments Schedule
While exceptions can happen, you can expect the following schedules:
- Deposits: All cleared amounts (including credit/debit and completed ACH transactions) are sent to your bank account as a single payout each Monday for any amounts currently available to send.
- Fees: Processing fees are deducted from each transaction as it comes in and is reflected in the deposit you receive, which has processing fees already deducted. You typically should not see other fees related to Stripe in your bank account (unless you are using Stripe directly or through another provider for other purposes unrelated to Connection Card Pro).
Bank Statement Descriptions
The following statement descriptions are common to see on your bank statements from Stripe when receiving income through Connection Card Pro:
Deposits
- Electronic Deposit Connection Card
- Connection Card MSP
Canadian Dollar
US Dollar