Instant deposits move money from a client’s card to your bank account, or debit card if you’ve linked one instead. Payments usually appear in your account within 24 hours and often as little as 30 minutes. This means less time between when you get paid and when you see that money, so funds can be used or put away faster.
Sometimes, HoneyBook may need to hold the payment temporarily. We do this to protect members and their clients from fraudulent charges, and it may cause a delay in the estimated processing times. It doesn't happen often, but if you don't receive your payment within 24 hours after processing an instant deposit, contact the Support team at [email protected].
Fees for each instant deposit are displayed on the “Payments” page, and include:
1% of the total payment amount, with a $5 minimum
📚 Tip
You can start an instant deposit from the HoneyBook mobile app. As soon as a payment comes in, go to your app's notification center, where you'll be able to see if the payment is instant deposit-eligible. If it is, select the notification to start the process.
Enable instant deposits
First, make sure you've added your bank account and business owner details to HoneyBook
Click your profile photo to the bottom left corner of your screen > Company settings
Select the Bank details tab
Locate the Instant deposits section
Select Set up instant deposit
You'll see the bank account that you linked to HoneyBook listed here. This will be the bank account that you receive instant deposits to (it's not possible to add a separate bank account at this time)
If your bank account is not supported for instant deposits, you'll be prompted to link a debit card instead. You'll receive instant deposits to this card. Enter the required information, then the two-factor authentication (2FA) code
Click Enable
Instant deposits will now be turned on for your account. From here, you can choose to enable instant deposit for all payments, or on a payment-by-payment basis.
Turn on instant deposit for all payments
Turning on instant deposit for all payments will start the instant deposit process every time a client makes an eligible payment moving forward.
Click your profile photo to the bottom left corner of your screen > Company settings
Select the Bank details tab
Locate the Instant deposits section
Make sure you've enabled instant deposits
Ensure Enable instant deposits for all future payments is toggled ON
Turn on instant deposit for a specific payment
If you prefer not to turn on instant deposits for all payments, you can turn instant deposit on for specific eligible upcoming/outstanding payments.
First, make sure you've enabled instant deposits
From the navigation menu, select Finance > Payments
In the outstanding section, toggle Same-day deposit ON for the payment in question
Instant deposit is now on for that payment. So long as the client pays via credit card, the payment will start the instant deposit process as soon as the client pays.
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!