With the rising costs of weddings lately, many couples are opting to create a Honeyfund account to use towards a dream honeymoon or a down payment on a house. Honeyfund makes it very convenient for a wedding guest to contribute a monetary wedding gift to your newly married life. They’ll even send out a personalized note to say ‘Thank you’ on your behalf! But how exactly does Honeyfund benefit from all this? In this article, we’ll find out how Honeyfund makes money, and whether or not if it affects guests or the wedded couple.
|Honeyfund makes money by partnering up with travel and experience partners. They’ll make a commission if you purchase a travel package or buy tickets through one of their vendors. Honeyfund will also earn a small $0.30 fee when you withdraw from your cash fund directly to your bank account.|
|Table of Contents|
|• How Does Honeyfund Make Money?|
• How Does Honeyfund Work?
• When Does Honeyfund Registry Get Deleted?
• Frequently Asked Questions
Read also: Honeyfund Review – Is It Legit?
How Does Honeyfund Make Money?
There are two main ways that Honeyfund makes money.
First off, Honeyfund makes money by partnering up with travel and experience partners.
When couples use their money towards sponsored experiences, Honeyfund will earn a commission.
The second way Honeyfund makes money is through transaction fees when you withdraw your funds directly to your bank account.
Currently, their processing fee is 2.5% + $0.30.
The 2.5% are standard credit card processing fees, whereas the $0.30 is what Honeyfund receives.
And the best way to bypass this processing fee is by using Honeyfund Wallet and redeeming your funds to your Venmo or Paypal account.
How Does Honeyfund Work?
Honeyfund works similarly to a traditional wedding registry where you create a product list for wedding guests to purchase wedding gifts.
But instead of physical products as the wedding gifts, guests can contribute cash gifts to a honeymoon fund for you to take your dream honeymoon, or use towards a down payment.
This popular online platform has recently exploded in popularity and has paid out close to $1 billion to couples all around the world.
If you’re still curious if Honeyfund is the right registry for your own wedding, check out our detailed Honeyfund review here.
When Does Honeyfund Registry Get Deleted?
Honeyfund won’t automatically delete your wedding registry after your wedding day.
In fact, they recommend to keep your cash registry available for 1 year after your wedding since many couples continue to receive gifts even after the wedding.
But if you still choose to delete your Honeyfund registry, you can reach out to their support team to have it removed.
Frequently Asked Questions
Honeyfund charges 2.5% + $0.30. The 2.5% is the credit card processing fee which is paid to credit card companies, and the $0.30 is what is taken by Honeyfund.
Not at all, Honeyfund is as real as it gets!
With about $1 billion paid in cash to couples around the world, they’re also partnered with a famous Shark Tank investor. Not to mention they’re the #1 honeymoon registry in the world right now!
There are currently two ways to get your money from Honeyfund.
The first is having the funds withdrawn via the registered couple’s bank account. For this option, there is a standard 2.5% processing fee plus $0.30.
The second method is completely free and involves withdrawing the funds via PayPal or Venmo.
However, it’s important to note that PayPal and Venmo may take a small percentage of the funds on their end.