There are are two fees that are charged per payment transaction on vstudio:
- Our platform fee: This is the fee we take to provide you with our seamless all-in-one platform. It ranges from 2.5%-10% and is charged per transaction. The transaction by offering type are:
- Live virtual classes and on-demand classes, including class packs and membership = 10%
- Programs (the same for virtual and in person) = 5%
- For in-person and private classes = 2.5%
- Note, we automatically adjust the % by the offering type.
- Payment processing fee: We use Stripe as our payment provider as it is trusted by thousands of businesses around the world. This ensures the security with connecting your bank account, with payments and with seamless payouts. Stripe charges a fee per transaction. This fee is different for each country. For North America, it is 2.9% + $0.30. However for most of Europe, it is only 1.4% + €0.25. You can check the stripe processing fees for your country from here.
These fees are automatically deducted from each transaction (your offering price) when purchased. You rest will automatically be deposited into the bank account you link to your account every week (from previous weeks transactions)
If this is unclear or if you have any questions, please email us anytime at firstname.lastname@example.org.