While switching over from a traditional business bank account, or opening your first business account, you may be wondering what sort of fees you will incur in using Bonsai business accounts.
Currently, there are no fees involved in using a Bonsai business account. This means that you will not incur:
Monthly account fees
Transactional & processing fees
Balance penalties
This means you can accept transfers, move money between envelopes, store your funds, and send ACH bank transfers without incurring additional fees.
Note: ACH transfers can only be made to your own account at another financial institution, and not to other individuals or businesses.
With that said, if your clients are processing online payments for your invoices through our integrated payment methods (Bonsai Payments, Stripe Payments, PayPal Payments) you will still encounter standard payment processing fees. For more information on how to determine who pays for the payment processing fee, read our help article here.
It is possible that a paid plan, different card types, or different pricing models may be introduced in the future, but Bonsai is aiming to always offer a solid free option for businesses.
© 2023 Bonsai Technologies Inc - Bonsai partners with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. Bonsai cards are issued by Celtic Bank. Bonsai is not a law firm, and does not provide legal services, advice, or representation.