Junior Rasmussen
Zola is a wedding registry service that allows couples to register for gifts, experiences, and honeymoon funds. When creating a honeymoon fund, couples can choose to let guests contribute any amount they want or set fixed amounts for specific experiences. While Zola does not charge a fee for honeymoon funds, credit card companies charge a 2.5% transaction fee to transfer money online. Couples can choose to have guests pay this fee or absorb it themselves. Contributions to honeymoon funds can be transferred to the couple's bank account or converted to Zola store credit with a 5% bonus.
| Characteristics | Values |
|---|---|
| Fee charged by Zola for honeymoon fund | 2.5% transaction fee charged by credit card companies |
| Absorbing the fee | Couples can choose to have guests pay the fee or absorb it themselves |
| Payment methods | Credit card, PayPal, Venmo |
| Transfer to bank account | Can be done anytime |
| Conversion to Zola store credit | Couples receive a 5% bonus if they convert funds to Zola store credit |
| Guest contribution | Guests can contribute fixed amounts or any amount they want |
| Displaying the total amount | Couples can choose to hide the total amount they're hoping to receive |
| Notifying couples | Couples are notified every time they receive a contribution |
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What You'll Learn
Guests can pay the transaction fee
When it comes to honeymoon funds, Zola offers flexibility and convenience. Couples can choose to let guests contribute any amount they wish or opt for fixed amounts. Guests can pay via credit card, PayPal, or Venmo, making the process straightforward and accessible.
An important consideration when using Zola for honeymoon funds is the transaction fee. All credit card companies, including Zola, charge a fee for transferring money online. The standard fee for Zola is 2.5% of the total contribution. Couples have the option to absorb this fee themselves or pass it on to their guests. For example, if a guest intends to give $100, they can choose to pay $102.50, ensuring the couple receives the full $100. Alternatively, the guest can pay $100, and the couple will receive $97.50, with the fee deducted.
Zola's approach to transaction fees provides choices for both couples and guests. Some couples may prefer to cover the fee themselves, considering it a small price for the convenience and benefits of using Zola's platform. On the other hand, guests may be happy to pay the fee to ensure their contribution goes further. This option allows guests to have a more personal connection to the couple's honeymoon, contributing to specific experiences like airfare, hotels, or activities.
By offering the option for guests to pay the transaction fee, Zola provides transparency and flexibility in managing honeymoon funds. Couples can decide what works best for them, ensuring they receive the full intended amount or allowing guests to contribute directly to specific experiences. This feature makes Zola a popular choice for couples planning their dream honeymoons, as it simplifies the process of receiving and managing funds.
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Couples can absorb the transaction fee
When it comes to honeymoon funds, Zola offers couples the flexibility to register for anything they desire. Couples can create funds for any amount and allow guests to contribute fixed amounts or amounts of their choosing. This can include specific experiences such as airfare and hotels, rather than a general pot.
Zola's credit card payment system incurs a 2.5% transaction fee, which is standard across all credit card companies. Couples can choose to have guests pay this fee, or they can opt to absorb it themselves. If guests pay the fee, they will be charged 2.5% extra, ensuring the couple receives the full amount. For example, if a guest pays $102.50, the couple will receive $100. If the couple absorbs the fee, the guest will pay $100, and the couple will receive $97.50.
Couples can choose to have the fees covered by the couple to present a more straightforward fee structure to their guests. This can be seen as a small fee for the convenience of receiving cash gifts from guests. By absorbing the fee, couples can avoid the potential awkwardness of guests having to pay extra. This approach may be preferable for those who want to provide a seamless giving experience for their guests.
Additionally, Zola offers the option to convert honeymoon fund contributions into Zola store credit. If couples choose this option, they will receive a 5% bonus on the total amount. This could be an attractive alternative to absorbing the transaction fee, as it provides an opportunity to gain extra funds. However, it is important to note that the funds would then be restricted to Zola's platform.
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Couples can transfer funds to their bank account
When couples receive contributions to their honeymoon funds on Zola, they have the option to transfer them to their bank account. They can do this anytime, and it is a direct deposit with a zero-fee option. Over 75% of Zola couples receive cash in this way.
Couples can choose to let guests contribute a fixed amount or let them decide how much they want to give. When creating a honeymoon fund, couples can choose to hide the total amount they are hoping to receive. If a guest tries to contribute more than this total, they will be prompted to give a lower amount.
Credit card companies charge a transaction fee to transfer money online, and Zola's fee is 2.5%. Couples can choose to have guests pay this fee, or they can absorb it themselves. For example, if a guest wants to give the couple $100, they can pay $102.50 so the couple receives $100, or the guest can pay $100 and the couple receives $97.50.
The first transfer usually takes up to 10 business days, and all following transfers take between 2-4 business days. Couples will receive a confirmation email every time funds are deposited into their bank account.
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Couples can convert funds to Zola store credit
When couples receive contributions to their honeymoon funds, they can choose to transfer them to their bank account or convert them to Zola store credit and receive a 5% bonus. All credit card companies charge a transaction fee to transfer money online, and Zola's is 2.5%. Couples can choose to have guests pay the fee or absorb it on their behalf. For example, if a guest wants to give the couple $100, they can pay $102.50 so the couple gets $100, or they can pay $100 and the couple receives $97.50.
Zola is the only place where couples have total flexibility to register for everything they want. Couples can add gifts, experiences, and honeymoon funds from the Zola store, add gifts from other stores, and add a registry from another store. Couples can also create funds for any amount and let guests contribute what they want or contribute fixed amounts.
When couples add a honeymoon fund to their Zola registry, they can choose to let guests contribute what they want or contribute fixed amounts. Then, guests will go through the checkout process using their credit cards, PayPal, or Venmo to contribute to the fund. When couples create a honeymoon fund and let guests contribute what they want, they can choose to hide the total amount they’re hoping to receive. If a guest tries to contribute more than this total, they will be prompted to contribute a lower amount.
Zola also lets couples add other items to their registry. For example, couples can create a "dream home fund" for people to contribute to. However, some couples may not like the idea of specifically asking for cash without saying what it's for.
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Couples can add other items to the registry
Couples can also create funds for any amount and let guests contribute fixed amounts or contribute what they want. These funds can be for anything, including flights, restaurants, and accommodation. Couples can also add gift cards to their registry.
Zola also lets couples opt to let guests pay the transaction fee or cover the fee themselves. For example, if a guest wants to give the couple $100, the guest can pay $102.50 so the couple receives $100, or the guest can pay $100 and the couple receives $97.50.
Couples can also choose to hide the total amount they are hoping to receive. If a guest tries to contribute more than this total, they will be prompted to contribute a lower amount.
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Frequently asked questions
Zola does not charge a fee for honeymoon funds. However, all credit card companies charge a transaction fee to transfer money online, and Zola's fee is 2.5%have guests pay this fee or absorb it yourself.
Yes, you can transfer your honeymoon fund contributions to your bank account at any time.
Yes, you can add other items to your Zola registry, including gifts, experiences, and funds for specific events like flights, accommodation, and restaurants.
Yes, when you add a honeymoon fund to your Zola registry, you can choose to let guests contribute fixed amounts or let them decide how much to give.
