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Why are there fees?

UPDATE: As of 3/13/2017 the credit, debit, and ACH (bank accounts) have been removed from the Travefy Expense tool. If you created a trip before this date, you will still have the option to use all methods of payment.

All credit card, debit card, and financial transactions have fees associated with the service fees. Typically, however, when buying a product - like a jeans or a couch or a Darth Vader Pez dispenser - these fees are buried into the price of the product. Not only does a buried fee not work for expense collection, but we at Travefy also believe in full transparency, meaning there are explicit fees.

You’re essentially paying for Travefy to  solve all of the payment headaches of group travel ensuring no one gets stuck with the bill! Through Travefy groups can track and collect all trip expenses.

These fees vary depending on how you'd like to be paid: 

Method

Total Fees

Bank Account Transfer

1%

Credit / Debit Card

4% 

PayPal

3.9% + $0.30

Cash

Free to track

All paid methods have a minimum transaction of $2.50. Credit / Debit Cards and Paypal have a minimum Travefy fee of $2 and Bank Account Transfer has a minimum Travefy fee of $1. PayPal fees include 2.9% + $0.30 PayPal fee and 1.0% Travefy fee.

Additionally, a collector (i.e., the person receiving money) can select whether the fees should be paid by the person paying, the person collecting, or split 50/50. And you can always use Travefy for free if all you’re doing is simply keeping track of cash payments.

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