TipBux Fee Structure:

At TipBux, we aim to provide a seamless tipping experience while maintaining transparency about the fees involved. TipBux users will incur Stripe and TipBux fees.

Stripe’s fees are standard charges found across most peer-to-peer and fintech platforms, covering, bank transfers, secure identity verification, bank processing and compliance costs. 

TipBux transaction fees ensure a secure and reliable tipping experience. These fees cover transaction processing and are also reinvested directly into TipBux, enabling us to develop new features and enhancements. This ensures seamless money movement while maintaining industry-leading security and reliability. 

Below is a detailed breakdown of these fees to help you understand how transactions work on our platform.

Standard Bank Transfer Fees (All Users)

All users are subject to standard bank transfer fees via Stripe:

• A one-time $1.50 secure bank connection & identity verification fee when linking a bank account to TipBux.
• Stripe charges 0.8% (capped at $5.00) for all bank transfers to your TipBux wallet.
• TipBux charges $1.00 transaction fee per tip sent or withdrawn under $100 and a 4% transaction fee per tip sent or withdrawn over $100 (capped at $5.00)

Wallet Uploads: Understanding Stripe Fees

Stripe Fee 0.8% ($5.00 cap)

TipBux Wallet Balance after Stripe ACH bank transfer fees examples:

$20.00 - (0.8%) = $19.84

$40.00 - (0.8%) = $39.68

$60.00 - (0.8%) = $59.52

$80.00 - (0.8% = $79.36

$100.00  - (0.8%) = $99.20

$100 + Final amount will vary. 

_________________________________________________________________________________________

Tippees:

Tippee's are enabled to initiate withdrawals (TipOut's) and wallet uploads on TipBux. Therefore if a Tippee wants to send aTip without using the money earned on the TipBux platform, Tippee's can upload money to their TipBux wallet from their connected bank account, however all bank transfers (wallet uploads) are subject to Standard Stripe fees. 

Tippee's do not have to immediately connect their bank to thier TipBux account in order to start receiving tips. However in order for Tippee's to TipOut money earned on TipBux, they will eventually need to connect their bank account to their TipBux profile.

Withdrawals (TipOut's):

• Your first TipOut of each month will incur a $2.00 transaction fee (this covers Stripe   account maintenance), and every TipOut after your first of each month will incur standard TipBux fees.

• Standard TipBux Fee: $1.00 transaction fee for TipOuts under $100 and a 4%        t . transaction fee for TipOuts over $100 (capped at $5.00).

• Standard TipBux Fee: $1.00 transaction fee for tips sent under $100 and a 4% transaction fee for tips sent over $100 (capped at $5.00).

_________________________________________________________________________________________

TipBux Processing Times

Here's a breakdown of processing times for transactions within the TipBux system:

• Adding Funds to Your TipBux Wallet:
  • When you add money to your TipBux wallet, it will take 24-48 hours for the funds to settle from your bank to TipBux.
  • This timeframe is due to standard ACH processing times required by Stripe, our payment processor. Please note that as a new financial company, TipBux adheres to processing times established by banking institutions and facilitated through our payment processor, Stripe. TipBux does not control these processing times. 
  • To enable you to send tips immediately, TipBux will provisionally advance these funds before they have fully settled. Your TipBux wallet balance will reflect the amount you requested to upload, less any applicable Stripe fees; however, the underlying funds will still be processing.
• Sending a Tip:
  • When sending a tip, the Tippee will receive it instantly. This is after any added funds to your TipBux wallet have settled via standard ACH bank transfers.
• Receiving a Tip:
  
  • When you receive a tip, you will usually receive it instantly. Its status will be displayed in one of two ways:
    • "Available for Tipout"
    • "Not Yet Available for Tipout"

ACH Transfer Time

This typically applies to "Tippers" on the platform who add money to their TipBux wallet. However "Tippee's" are also able to add money to their TipBux wallet in the event that they want to send a tip without using the funds that they have made on the TipBux Platform.

We understand you want to use your funds right away! We have partnered with Stripe who uses the Standard ACH (Automated Clearing House) Network to allow you to securely transfer money from your bank account to your TipBux wallet. This is a secure and cost-effective method, but it is not instant.

To set clear expectations, here is a breakdown of how the ACH timeline works.

Key Things to Know

• Processing Time: Standard ACH transfers typically take 1 to 3 business days to complete.
• Business Days Only: ACH only processes on Monday through Friday, excluding federal holidays. Weekends (Saturday and Sunday) and holidays do not count as processing days and will add time to your transfer.
• Cutoff Time: Transfers initiated after banks daily cutoff time (typically 4:00 PM EST) will be considered as if they were initiated on the next business day.

The day you initiate the transfer is considered Day 0. Processing only begins on the next business day. This schedule shows you the fastest possible settlement time.

You Initiate the Transfer On...Expected Settlement Day (Funds Available)

Monday (Before Cutoff 4pm)expected settlement day: Wednesday 

Tuesday (Before Cutoff 4pm) expected settlement day: Thursday

Wednesday (Before Cutoff 4pm)expected settlement day: Friday

Thursday (Before Cutoff 4pm) expected settlement day: Tuesday

Friday (Before Cutoff 4pm)expected settlement day :Wednesday

Saturday or Sunday expected settlement day: Wednesday

.

Need Help?

If you have any questions or need further clarification about fees, feel free to reach out to our support team at TipBuxCare@outlook.com