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Fees
Famly charges a processing fee when using this feature but there are no additional cost besides that. When a parent pays their outstanding balance in Famly, the fee will be deducted before the money arrives in your Famly Pay account. You can see the fees below:
BACS Direct Debit:
1% of payment amount, max £2, min 50pEuropean Debit & Credit Cards (Excl. Amex):
2% of payment amount + 20p per transactionNon-European Debit & Credit Cards & Amex:
3.5% of payment amount + 20p per transaction
Note that UK cards are classed as European in this case as this agreement was made before Brexit.
Examples
The parent pays £100:
- by direct debit: 1% of £100 = £1. Payout to your bank account = £99
- by EU cards: 2% of £100 + 20p = £2.20. Payout to your bank account = £97.80
- by non-EU cards: 3.5% of £100 + 20p = £3.70. Payout to your bank account = £96.30
Fees for new signups
Great news! For a limited time, any customers that sign up to use Famly Pay before January 31st, 2023, will experience lower fees and 1 month free payment processing.
The new fee structure is as follows:
Direct Debit pricing (UK)
50p per transaction
Normal Card Pricing (UK)
1.5% + 20p per transaction
Non-UK cards, AMEX, corporate cards (in the UK)
3.5% + 20p per transactions
Payout times
Next day after payment succeeds
Please note, VAT has not been calculated into the fees above and will be added on to all transactions
Need more help? Have a look at some of our other Famly Pay articles: |