With HoneyBook, you can easily complete that all-important duty of collecting payments from your clients (sort of need that, right?) with no need to go through a third party!
When a client pays you through HoneyBook, we automatically send payments to the bank account that you set up under Bank Details.
The amount of time it takes a payment to reach your bank account differs based on the method of payment the client used.
Card payments: about 2-3 business days
ACH bank transfer: about 7-8 business days (since the funds need to clear your client's bank account first)
Remember that once your client has initiated payment, the payment status will switch to Paid (credit card payments) or Pending (ACH bank transfer). You can review the estimated deposit date of the payment (as well as the payment status) via the Payments tab of your Bookkeeping tool, or in the Payment Schedule section of the file itself.
HoneyBook Tip: Want more details on your client’s payment method, or looking to issue a refund? Just click on the payment in question to open additional information:
Processing fees support the HoneyBook platform, and let us drive your credit card fees down through economy of scale. The fees are deducted from your total before it’s deposited into your account.
Credit card payments: flat fee of 3%
ACH bank transfer: flat fee of 1.5%
Cash or check payments: no fee!
PLEASE NOTE: On December 14, 2022, we will be updating our card rates. Click here to learn more!
HoneyBook Tip: Wondering about passing these fees on to your clients? Check out more information here.
You can always review the total amount that was deducted for processing fees in your Yearly or Monthly Analytics Reports. Simply click the link for the year or month you're interested in to download the full CSV report—you'll see a column for HB Fee in that spreadsheet.
PLEASE NOTE: If you ever need to refund a client, they will receive the full amount of their initial payment—transaction fees won't affect them at all!
Want to learn more?
Still have questions? Feel free to send us a message by clicking the Question Mark icon on any HoneyBook page. Our team is always happy to help!