Online Blabu wallet runs on Stripe. Thanks to the combination of our features and Stripe, you can sell your services and receive payments in multiple currencies enabling students from around the globe to purchase from you. Students can easily and instantly pay by card on your profile. You do not need to dive into mysteries of international bank transfers either, we have that covered for you.
What is the online transaction fee composed of?
The online transaction fee is roughly 5% of the transaction volume and consists of Payment processing fees (going to Stripe) and Blabu fee. Blabu fee is fixed, while Stripe fees differ according to the type and origin of the payment card used by a student and your country of residence.
Blabu fee is 3.5% of the purchase value if you teach less than 50 students in your classroom and 2% of the purchase value if you teach more. Currently the lowest fees on the market.
Payment processing fees
Stripe inbound payments fee - charges applied when student makes a purchase
Stripe payout fee - charges applied when you withdraw earnings from the wallet
Inbound payments fee
Stripe currently charges 1.4% of the purchase value for the European cards and 2.9% of the purchase value for non-European cards. Every inbound fee also contains a fixed part of about €0.25. The fixed part is country and currency specific.
Note that you are charged the same fixed part if your student buys a service for the price of €10 or €100. It is therefore recommendable from the long-term perspective to offer students packages of multiple lessons for a higher end-price to avoid being repeatedly charged the fixed fee on small purchases.
See an example:
An Italian student makes a purchase of your lessons for €100.
Stripe Payment fee = EU Card > Stripe €1.4 + €0.25 = €1.65
Blabu fee 3.5% = €3.5
Earnings collected in your wallet = €100 - €1.65 - €3.5 = €94.85
With our online wallet solution, you can trigger a payout of your earnings to your bank account whenever you want. There is a minimal ( a few cents) country specific fee that is charged from e-wallet withdrawals. We list it to ensure complete transparency. Please see in the table below which fee applies to your country.
If we follow the example, let’s say that your tutoring business is based in Malta and you decide to pay out the funds received from your Italian student to your private bank account.
Due payout is €94.85
Stripe payout fee (Malta) €0.10 + 0.25% = €0.10 + €0.237 = €0.337
Net payout send to your account = €94.512
Important: If currency conversion is required, an additional fee will apply: 1% for US accounts and 2% for non-US accounts. If transferring funds to other countries, an additional 1% cross-border transfer fee will apply.
To avoid these fees, you should make sure that the most of your services are offered in the same currency as your connected private bank account.
If you selected that you want your payouts to be made in € to your bank account in Malta that is also in €, you should price your Classroom services in € as well.