HoneyBook's transaction fees vary depending on the payment method utilized by your clients, ranging from no fee for external payments to a percentage of the total plus a fixed amount for card transactions.
Understanding HoneyBook Transaction Fees
HoneyBook facilitates various payment methods for clients, and each comes with a distinct fee structure. This allows businesses to choose the most suitable option based on their needs and their clients' preferences.
Here's a breakdown of the transaction fees applied by HoneyBook:
| Transaction Type | Transaction Fee |
|---|---|
| Cash/Check | No fee (processed outside HoneyBook) |
| ACH/Bank Transfer | 1.5% of payment total |
| Cardholder Entered Card | 2.9% of payment total + 25 cents |
| Card on File | 3.4% of payment total + 9 cents |
Details on Each Payment Type:
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Cash/Check Payments: When clients pay via cash or check, these transactions are processed outside the HoneyBook platform. Consequently, HoneyBook does not charge any processing fees for these types of payments. Businesses simply record the payment manually within HoneyBook for record-keeping purposes.
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ACH/Bank Transfer Payments: For payments made directly from a client's bank account via ACH (Automated Clearing House) transfer, HoneyBook charges a flat fee of 1.5% of the total payment amount. This is generally a cost-effective option for larger transactions as the fee is solely a percentage, without additional fixed cents.
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"Cardholder Entered" Payments: When a client manually enters their credit or debit card details to make a payment through HoneyBook, the fee is 2.9% of the payment total plus an additional 25 cents. This is common for one-time payments where the client is actively providing their card information at the time of purchase.
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"Card on File" Payments: If a client's credit or debit card information is saved on file within HoneyBook for future or recurring payments, the transaction fee is 3.4% of the payment total plus an additional 9 cents. This fee structure typically applies to subscription services, payment plans, or situations where a client's card is charged automatically after initial authorization.
Understanding these different fee structures can help businesses choose the most efficient payment methods for their services and anticipate the costs associated with accepting client payments through HoneyBook.
