The Food Corridor charges Platform Fees for all transactions in order to cover ongoing platform services. Platform services include:
- Unlimited clients
- Unlimited calendars
- Unlimited bookings/cancellations
- Upcoming booking notifications
- Unlimited documents w/ notification tracking
- Automatic monthly invoicing system
- Automatic billing system - which includes payment processing
- Unlimited digital file storage for documents
Additionally, the Platform Fees include Stripe's processing fees, so there is no additional charge from Stripe.
If a kitchen chooses to "externalize the Platform Fees," the amount will be calculated to any transaction billed through the system and added to your clients' charges. If the kitchen chooses to "internalize the Platform Fees" the kitchen pays these fees.
The Platform Fees are applied dependent upon how your Clients pay their charge within the platform. The Platform Fees are:
- Credit or Debit - 4%.
- Bank transfer or ACH - 2%.
- Manual (cash or paper check) - 2%
The billed funds pass through The Food Corridor's Stripe Account where the Platform Fees are taken out and the rest is transferred into your Stripe Connect Account. In the CSV download of payments you can get from Stripe, these are referred as an 'Application Fee'. You are also able to log in anytime and download reports in your Stripe Account that show all the transferred amounts.
If you are externalizing the Platform Fees, they will be added directly to your client's total bill and collected when billed. We then take out our 2% or 4%, and the remainder is dispersed into your Stripe Connect Account. So if your client reserves 4 hours at $25 an hour, we bill your client for $104, and you will receive $100 delivered to your Stripe connect account.
Note: charges under $30.00 paid by credit card or debit card will have a $0.30 fee added on.