Creating and connecting a Stripe account is one of the first things you need to knock out. To fully utilize Bid Rocket's software, you want to collect credit card information and complete sales, whether registration site or event day transactions.
- Go to www.stripe.com and create a stand-alone account.
- Connect a bank account to receive payouts.
- Confirm identity with a photo ID to unlock payments to your account.
- To qualify for Stripe's non-profit discount, submit your 501(c)(3) letter to their support team.
- Go to www.launch.bidrocket.com and login to your fundraiser.
- Find Stripe Settings in the left navigation bar.
- Click "Connect Stripe Account" then enter your username and password to authorize the connection to Bid Rocket.
- Upload your 501(c)(3) tax exempt letter, if applicable.
- If you qualify for Stripe's non-profit discount, make sure to check the box under your 501(c)(3) letter so your processing rates update in Bid Rocket.
- If you are not a 501(c)(3) and need to apply sales tax, enter the sales tax that is required where your organization is established.
- Pass Fees to Guests! Guests will have the option to cover your fees (Stripe's credit card processing fee and Bid Rocket's 3% platform fee), so check these boxes to allow your guests the option to absorb these fees.
- Whew! We made it to the last item, your Tax ID. Whenever a payment is made, Bid Rocket sends an email confirmation to the email address on file for that account. We qualify our receipts as tax receipts, so entering your Tax ID number and identifying whether or not you are a 501(c)(3) is important.
Good job! You're ready to start accepting payments!