If you're thinking about signing up to Bonsai, or already have an account and want to get paid online through Bonsai, it's good to know that we support a variety of online and offline payment methods to help you get paid quickly.
The three online payment processors we support are Bonsai Payments, Stripe Payments, and Paypal.
👉 Note that Bonsai makes it easy to pass the payment processing fees onto your client so you receive exactly the amount you invoiced.
Bonsai Payments 💸
Bonsai Payments are supported for users from the US, UK, Canada, and Australia. Because it's the most deeply integrated with Bonsai, it provides faster payouts, better onboarding, and a better client experience compared to Stripe Payments and Paypal. Bonsai Payments often provides the lowest fees among our integrated payment options!
Bonsai Payments allows you to get paid via credit card, debit card, and ACH. The fees for each of those are the following:
Visa or Mastercard: 2.9% + $0.30
American Express: 3.25% + $0.30
ACH: 1% ($1 minimum)
👉 Note: that for US accounts, if your account is eligible, "Instant Payouts" can be enabled with an additional 1.5% fee on the payout amount.
Pro tip: Connect your Bonsai Payments to Bonsai Cash
Bonsai Cash is your new business checking account! It is an easy-to-use account to help you manage your business funds, spending, and savings goals. Connect it to Bonsai Payments or other sources to get paid directly to Bonsai Cash, and spend your funds with your virtual and physical cards!
How to connect them?
There are buttons in both Bonsai Payments and Bonsai Cash to connect them together! This will add Bonsai Cash as a payout destination for your invoices when they're paid with Bonsai Payments.
Stripe Payments 💰
Bonsai also supports direct integration with Stripe Connect so you can use your existing Stripe account to get paid. Stripe Payments can be used in any country in which Stripe is supported.
Stripe Payment fees are the following:
Visa or Mastercard: 2.9% + $0.30
American Express: 2.9% + $0.30
ACH: 1.0% ($1 minimum)
👉 Note: all Stripe Payments incur an additional 1% platform fee for Visa and MasterCard, and 1.35% for American Express if you're in a country that's supported by Bonsai Payments (US, UK, Canada, and Australia).
PayPal fees are generally 2.9% + $0.30, but note that they vary by country.
🚨 Note: PayPal fees increased last year! If available in your region, consider using Bonsai Payments for lower credit and debit card processing fees.
👉 Note: all Paypal payments incur an additional 1% platform fee if you're in a country that's supported by Bonsai Payments (US, UK, Canada, and Australia).
Foreign Exchange (FX) fee
The Foreign Exchange (FX) fee is a fee that is added to your Bonsai Payments or Stripe Payments invoices when you get paid internationally using one of our online payment methods. This fee is 2.5% of your invoice amount.
You can learn more about the FX fee and when is it effective, in detail here.
'Other' payment methods outside Bonsai
Other payment methods outside of Bonsai, such as Wire Transfer and Mailed Check, are not integrated into Bonsai's platform so any invoice template you send will not automatically be marked as paid upon completion.
If you decide to use these options, Bonsai will simply display the information to your client and you will need to mark your invoice as paid.
In order to use these offline payment options, you need to enable the below setting on the Invoice Settings page here: https://app.hellobonsai.com/settings/payments
Upon enabling this option, you can name it as Bank Account, etc to input your instructions to the client to do a wire. Then, these instructions do show up to your client at the time of paying your invoice, under the available payment methods.