Payment Architecture & Fees
FairSplit uses Stripe Connect to process reimbursements. Money transfers directly between parents, and FairSplit never possesses or controls user funds.
How Reimbursement Money Moves
Parent A (Payer)
Logs $100 medical co-pay with receipt. Requests 50% ($50) reimbursement.
Parent B (Reimburser)
Receives email payment link, reviews receipt in browser, and approves payment.
Stripe Connect
Stripe processes $50 transfer directly from Parent B to Parent A's connected bank account.
Parent A Bank
Funds settle in Parent A's bank account in 1–3 business days via ACH payout.
Transparent Fee Structure
- Monthly Subscription: No monthly subscription.
- Platform Withdrawal Fee: FairSplit charges a 3% platform withdrawal fee when a parent pays out reimbursed funds to their bank.
- Stripe Processing Fees: Standard Stripe processing fees (2.9% + $0.30) apply to credit card / ACH payments and are paid by the sender.
Payment Authorization & Timing
When Parent B approves a reimbursement request, payment authorization occurs immediately through Stripe checkout. Card payments process instantly; ACH bank transfers typically settle in 1–3 business days depending on standard banking rails.
Failed Payments, Refunds & Disputes
If an ACH transfer fails due to insufficient funds or invalid bank details, Stripe notifies both parties. If a charge is disputed or reversed through a card issuer, the transaction status is logged automatically in the FairSplit connection ledger for legal transparency. External payments made via Zelle, CashApp, or cash can also be logged manually with mutual confirmation.
Identity & Bank Verification
Before receiving payouts, parents complete standard Stripe Connect onboarding, including identity verification (KYC) required by federal banking regulations.
Clear, transparent co-parenting payments.
Learn more about FairSplit's reimbursement tools and prelaunch features.
Join Early Access →Questions? hello@fairsplit.live