FreshBooks PaymentsB76
Payment Processor · US and Canadian freelancers, consultants, agencies and trades already on FreshBooks who invoice mostly by c…
Overview
$48
Best for: US and Canadian freelancers, consultants, agencies and trades already on FreshBooks who invoice mostly by card and want payment, receipt and bookkeeping in one place; businesses that will use AutoPay and saved cards for retainers and can wear 3.5% + $0.30 for the automation; anyone who values Apple Pay, Google Pay and buy-now-pay-later on an invoice without integrating anything.
Strengths
- + Payments live where the invoice does: clients pay by card, wallet, ACH or instalments from the invoice email, and the payment and the fee are recorded in the books automatically.
- + No monthly fee, minimum, setup charge or contract on the payments product, and no charge for refunds beyond the lost transaction fee.
- + A full published fee schedule, including the 3.5% tiers and the international, conversion and dispute charges that most 'from 2.9%' pitches leave out.
- + Two-business-day card settlement once established, daily automatic payouts, and Stripe-backed instant payouts for those who need cash the same day.
- + Broad acceptance for an invoicing tool — Apple Pay, Google Pay, Affirm, Afterpay, SEPA for euro invoices and cards from 190-plus countries — without integrating anything.
Trade-offs
- – ACH costs 1% of the invoice with no cap unless you are on the negotiated Select plan; on a $25,000 invoice that is $250, where Stripe's own ACH pricing — the rails FreshBooks Payments runs on — caps the fee at $5.
- – The 2.9% + $0.30 headline applies only to domestic consumer cards: American Express and all commercial, corporate and business cards are 3.5% + $0.30, as is every charge made through the virtual terminal, AutoPay or saved cards.
- – The features that make it useful for retainers — card on file, AutoPay, AutoCollect — cost $20 a month on every plan but Select, in addition to the higher managed-payments rate.
- – A mandatory seven-business-day hold on every new account's first payout, plus Stripe reserves and verification holds; reviewers describe larger payments taking five to ten days and a new Stripe account being created on reactivation.
- – Only available to businesses in the United States and Canada; everyone else is pointed to Stripe Standard or PayPal.
- – FreshBooks' BBB profile is rated D- and not accredited, though with only four complaints in three years; Trustpilot is a middling 3.7 from 1,042 reviews, with 18% one-star reviews that increasingly concern the Stripe-based payments.
Fees in detail
- Online rate: 2.9% + $0.30 on domestic consumer Visa, Mastercard, Discover and other cards, including Apple Pay and Google Pay; 3.5% + $0.30 on American E
- International: Plus 1.5% on cards issued outside the United States, and plus 2% currency conversion when the invoice currency differs from the account curr
- Disputes: $$15 per dispute; failed ACH transfer $4
Standard published rate for a domestic online card payment. Confirm current pricing on FreshBooks Payments's pricing page.
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