Unexpected bank fees with Stripe transfers

sirensiren
Excursionist
41 0 8

Hi there,

I want to launch my shop and I chose Stripe as my payment provider due to Shopify Payments not being available in Greece. However, after placing a test order, I encountered an unexpected issue. Stripe's default setup involved transferring funds to my local bank account after each order payment, resulting in a 4€ transaction fee charged by my bank for the Stripe transfer. I’ve adjusted my Stripe settings to schedule Payouts for "automatic monthly sending" rather than weekly to reduce the bank transaction fees to one per month. Is there another payment provider available in Greece that doesn't incur international bank transfer fees? Any insights? Thanks!

Reply 1 (1)

Letter_Hound
New Member
6 0 0

I was recently looking into digital banks, like Revolut. I have a question regarding the transfer of funds from Stripe to a local Greek bank. Now that you've selected the once-a-month option for these transfers, is the transaction cost still 4 euros, or does it vary based on the amount of money being transferred? I highly doubt that Greek banks like National Bank of Greece or Eurobank offer lower fees, but it's worth checking. Also, can you see if IRIS payments are applicable for transferring money between accounts? I initially thought this might only apply to transactions between Greek banks, but it's still worth looking into, if you find anything out please reach out, im in the same position as you.

Thanks in advance! @sirensiren