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.
A collector (i.e., the person receiving money) can choose how to handle fees for all payments they will collect from the group. They have three options: They can pay the entire fee themselves, require people paying them to pay the entire fee, or split the fee costs with anybody paying them 50/50.
Each individual collector gets to decide how fees are split for payments to them.
PayPal Technical Note: Due to some limitations on PayPal, splitting fees 50/50 there can look a bit confusing. But, the net effect is still an equal 50/50 split. Here’s what happens:
- The person paying will overpay their balance by 1.45% + $0.15 (plus Travefy’s 1% fee) to reimburse the collector for their portion of the 2.9% + $0.30 PayPal fee. While the total 1% Travefy fee still shows up on the payer’s end, we reduce their initial balance by 0.5% to ensure they only pay half of that fee.
- The person collecting will on their receipt still technically pay 2.9% + $0.30 to PayPal, but this will net out to a 50/50 fee split.