Connect Stripe for Payments

Accept credit and debit card payments directly through Toolfy by connecting your Stripe account. Takes 5 minutes to set up, and funds deposit to your bank in 1-2 business days.

Before You Start

You'll need:

• Your business bank account details
• Business registration number (if applicable)
• Tax ID or National Insurance number
• Business address and phone number

Step 1: Navigate to Payment Settings

1. Log in to your Toolfy account
2. Click Settings in the sidebar
3. Select Payments from the settings menu
4. Click the Connect with Stripe button

Step 2: Create or Connect Stripe Account

New to Stripe?

1. Click Sign up on the Stripe page
2. Enter your email and create a password
3. Verify your email address
4. Continue to business information

Already have Stripe?

1. Click Sign in on the Stripe page
2. Enter your Stripe credentials
3. Authorize Toolfy to connect

Step 3: Complete Business Verification

Stripe will ask for business information to comply with financial regulations:

• Business Details: Legal business name, trading name, business type (sole trader, limited company, etc.)
• Business Address: Your registered business address
• Personal Details: Your name, date of birth, address (as the business owner)
• Bank Account: Account number and sort code where payments will be deposited

Step 4: Return to Toolfy

After completing Stripe setup:

1. You'll be automatically redirected back to Toolfy
2. You'll see a green "Connected" status in Payment Settings
3. Your account is now ready to accept payments

Testing Your Setup

Create a test invoice to ensure everything works:

1. Create a new invoice for a small amount (£1)
2. Send it to yourself
3. Click the payment link in the email
4. Use test card: 4242 4242 4242 4242
5. Any future date for expiry, any 3 digits for CVC

Payment Processing Times

• Standard: 1-2 business days (free)
• Instant Payouts: 30 minutes (0.5% fee, minimum £0.50)
  Available after processing £1000 in payments

Stripe Fees

Stripe charges per transaction:

• UK cards: 1.5% + 20p
• EU cards: 2.5% + 20p
• International cards: 3.25% + 20p

Example: On a £100 invoice paid with UK card, you receive £98.30 (£100 - £1.50 - £0.20)

Troubleshooting

Connection Failed

• Ensure you completed all Stripe verification steps
• Check your email for verification requests from Stripe
• Try disconnecting and reconnecting in Settings

Payments Not Appearing

• Check Stripe dashboard for the payment
• Ensure webhooks are connected (automatic with Toolfy)
• Contact support if payments show in Stripe but not Toolfy

Verification Pending

Stripe may request additional documents for verification:

• Photo ID (passport or driving licence)
• Proof of address (utility bill)
• Business registration documents

Upload these directly in your Stripe dashboard under "Business settings"

Related Articles

• Accepted Payment Methods
• Set Up Instant Deposits
• Handle Failed Payments
• Send Invoice with Payment Link