Boost recurring donations this giving season with the upsell prompt!With the Auctions app, you can let bidders pay their balance from a US bank account instead of a card. The bidder signs in to their bank through Stripe on their own checkout, and the payment is taken from their account. It suits large balances, where a card limit or card fees get in the way.
Bank transfer is turned off until you turn it on.
Before you start
- Your site must take payments through Stripe.
- Bank transfers must be turned on in your Stripe account. See Enabling Bank Transfers in Stripe. That article was written for the Donations app, and the Stripe steps are the same.
- Bidders need a US bank account.
Turning it on for one auction
- Open the Auctions Manager.
- Click the title of the auction you want to manage.
- Click the Details tab.
- In the Settlement Configuration section, for Allow Bank Transfer Payments, select Yes.
- Click Save.
Allow Bank Transfer Payments sits directly below Allow Offline Payments. Leave it on Use global default to follow the app-wide setting, or select No to turn bank transfer off for this auction only.
Turning it on for every auction
- In the administrator, go to Auctions → Configuration.
- On the Checkout & Settlement tab, for Allow Bank Transfer Payments, select Yes.
- Click Save.
Every auction left on Use global default then offers bank transfer. See Configuring checkout and settlement settings.
What bidders see
On their checkout, under Payment method, bidders see Pay by bank transfer below Use a new card. It opens Stripe's bank form, where they sign in to their bank and choose an account. They can pay their whole balance or part of it. See Paying your auction balance.
Bank transfer is offered on the bidder's own checkout only. It is not one of the methods under Take a payment on the Checkouts tab. To have a bidder pay by bank transfer, send them a checkout link.
Note: The bank sign-in window belongs to Stripe. It may name Link, Stripe's service for saving bank details, and offer the bidder the choice to save their account with it. Bidders can finish without saving.
How a bank transfer payment is recorded
A bank transfer payment counts as paid as soon as Stripe accepts it, the same as a card payment. The bidder's balance goes down at once, and when it reaches zero their receipt is sent.
The bank then takes a few days to complete the payment, usually within four business days. Under Payments and Adjustments on the bidder's checkout, the payment reads "Bank transfer" with the bank's name and the last four digits of the account. Below the amount it reads "not yet cleared by the bank", and later "cleared" with the date.
Soapbox checks each bank transfer payment with Stripe whenever you open the auction's Checkouts tab or a bidder's checkout, and whenever the bidder opens their own checkout. Once a payment has cleared, it is not checked again.
Processing fees
Your auction's Cover Transaction Fees and Fee Percent settings apply to a bank transfer payment exactly as they do to a card payment.
Things to know
Important: Because a bank transfer payment counts as paid right away, a bidder's receipt can be sent, and their items can be handed over, before the money has reached you. A bank can still turn a payment down in the days that follow. See Handling a bank transfer payment that fails.
- No email is sent when a payment fails. A failed payment is flagged on the Checkouts tab, so open the tab in the days after bidders pay by bank transfer.
- A bank transfer payment can be refunded only after it has cleared. See Refunding a payment or reversing a write-off.
- Bank accounts are not saved. Charging cards on file in a batch uses saved cards only.
- A wire that reached your bank directly is recorded differently. Use Wire or bank transfer under Take a payment. See Taking a payment from a bidder.
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