Franklin Dean
The Knot's honeymoon fund is a great option for couples who are looking for experiences over gifts or who would simply like some extra cash towards their honeymoon. The fund works by connecting your bank account or Venmo account to your registry, so guests can pay via credit card as they would if they were buying a physical gift. Once you create your honeymoon fund, you'll see it at the top of your registry overview page under the heading Cash Funds. From there, you can input your account details and start receiving contributions from guests. Each contribution is sent to your bank account automatically, and you will receive an email notification so you can thank your guests for their generosity. The Knot's honeymoon fund is free for couples, with only a 2.5% credit card transaction fee added to each guest's total.
| Characteristics | Values |
|---|---|
| Cost | Free for couples; 2.5% credit card transaction fee |
| Setup | Connect bank account or Venmo account to registry |
| Guest payment method | Credit card |
| Notification | Email notification when a guest contributes |
| Payment timing | Funds sent to bank account automatically on a rolling basis; takes up to 5 business days or 3 weeks to receive funds |
| Customization | Can create individual experience gifts or a general honeymoon fund |
| Privacy | Can hide goal amount from guests |
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What You'll Learn
The Knot honeymoon fund fees
The Knot's honeymoon fund is a great option for couples who are looking to add a cash fund to their wedding registry. It is a convenient way to ask guests for monetary contributions towards a honeymoon or other experiences instead of traditional gifts.
The Knot honeymoon fund works by connecting your bank account or Venmo account to your registry. This allows guests to pay via credit card through the platform, as they would if they were buying a tangible gift. There is no setup fee or percentage taken out of the final cash total by The Knot. However, there is a 2.5% credit card transaction fee that is paid by the guests. This fee is one of the lowest in the industry and is required by credit card companies for each transaction.
Once a guest contributes to your honeymoon fund, you will receive a notification via email. Each contribution is automatically sent to your bank account on a rolling basis, with a window of up to five business days for the funds to show up in your account. This timeframe is a safety and security measure to ensure the secure transfer of funds.
It is important to note that some guests may prefer to give cash or checks directly to the couple to avoid transaction fees. Additionally, there have been reports of delays in receiving the funds, with some couples experiencing wait times of up to three weeks or even over a month.
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How to set up a honeymoon fund
Setting up a honeymoon fund is a great way to ask your wedding guests for cash towards your honeymoon, instead of receiving gifts. Here is a step-by-step guide on how to set up a honeymoon fund on The Knot:
Step 1: Create an account
Create an account on The Knot and set up your wedding registry. The Knot's honeymoon fund is a great option if you are a globetrotting couple that values experiences over gifts, or if you have been cohabiting for a long time and already have enough household items.
Step 2: Add your banking information
Once you have set up your wedding registry, you can add your honeymoon fund. You will see it indicated at the top of your registry overview page under the heading "Cash Funds". Click on this and you will be prompted to add your banking information.
Step 3: Customise your fund
You can now customise your honeymoon fund. You can add a picture and price, and write a custom product description about what the fund is for. You can also choose to hide the goal amount from guests if you wish. You can create one block for your entire honeymoon experience, or break it down into specific honeymoon fund ideas such as airfare, hotel rooms, or activities.
Step 4: Share with your guests
You can now share your honeymoon fund with your guests. You can include a link to your registry on your wedding invitations, and guests can then choose to contribute to your honeymoon or to any other funds you have set up.
Step 5: Receive contributions
Once guests start contributing to your honeymoon fund, you will receive a note via email so that you can thank them for their generosity. Each contribution is sent to your bank account automatically on a rolling basis, with a window of up to five business days or three weeks for the money to arrive. A 2.5% credit card transaction fee is added to each guest's total.
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How to receive the money
To receive money through The Knot's honeymoon fund, you must first connect your bank account or Venmo account to your registry. This is done by creating a honeymoon fund and adding your banking information. Once this is set up, guests can start contributing to your fund. Each contribution is sent to your bank account automatically on a rolling basis, although it can take up to five business days for the money to show up in your account. This time frame is a safety and security measure to ensure the money is transferred securely.
The Knot does not take a percentage of your honeymoon fund, but there is a 2.5% credit card transaction fee added to each guest's total at checkout. This is one of the lowest credit card transaction fees available.
You will receive a notification via email when a guest contributes to your fund, so you can thank them for their generosity. You can also continuously check your pacing towards your goal amount and see who has contributed.
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The Knot vs other honeymoon fund websites
The Knot's honeymoon fund works by connecting your bank account or Venmo account to your registry, so guests can pay via credit card through their platform. Each contribution is sent to your bank account automatically on a rolling basis, although it can take up to five business days for the money to show up. There is a 2.5% credit card transaction fee, which is one of the lowest out there, that is tacked on to each guest's total.
The Knot's honeymoon fund is a great option for globetrotting couples who prefer experiences over gifts, or for those who have been cohabiting for a long time and don't need any more pots and pans. It is also a good option for those who would like some cash towards their honeymoon, with or without other presents.
The Knot's honeymoon fund is free for couples to set up, with no percentage taken out of the final cash total. Guests can still do personalized gifts, and couples can use the custom cash fund feature to create individual experience gifts.
Compared to other honeymoon fund websites, The Knot's fund has one of the lowest transaction fees at 2.5%Honeyfund and Wanderable charge fees, which some people don't like. The Knot's fund is also convenient for guests as they don't have to write a check or travel with cash. The Knot's honeymoon fund is also linked with SPUR Experiences, which offers a 20% discount for any remaining items on the registry and free bonus gifts depending on what loved ones purchase.
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$9.99 $12.99
Pros and cons of honeymoon funds
Honeymoon funds are a modern take on wedding registries, allowing couples to register for experiences such as hotel stays, activities, flights, and more. Guests can then contribute financially to the things the couple registered for.
Pros
- Honeymoon funds provide the couple with additional resources to enjoy activities they might otherwise have skipped.
- Guests can pool resources to give the couple a special experience.
- It is convenient for guests who don't have to worry about wrapping or carrying a gift to the wedding.
- Couples can register for tangible gifts, honeymoon funds, or cash funds, giving guests options to choose from.
- It is a great option for couples who already live together and have everything they need for their home.
- Couples can include specific details about their honeymoon, such as destination, interests, and duration, to make guests feel excited about contributing.
- Couples can create a general honeymoon fund or list specific items they'd like, such as flights, hotel nights, or experiences.
Cons
- Some people may find it tacky to ask for money for a honeymoon, especially if it is the only thing requested.
- Not everyone can afford a large cash donation and may feel embarrassed about contributing a smaller amount.
- There may be a delay in receiving the funds, which could be an issue if the money is needed to pay for honeymoon expenses.
- Couples may end up using some of the money for something unrelated to the honeymoon, which could offend guests.
- There may be fees associated with using certain honeymoon fund platforms.
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Frequently asked questions
The Knot Honeymoon Fund works by connecting your bank account or Venmo account to your registry, allowing guests to pay via credit card. Once you create your honeymoon fund, you'll see it at the top of your registry overview page under the heading "Cash Funds".
No, The Knot does not take a percentage of your honeymoon fund. The only fee incurred is a 2.5% credit card transaction fee, which is added to each guest's total.
Each contribution is sent to your bank account automatically on a rolling basis. It can take up to five business days for the money to show up in your account, though some users have reported that it can take up to three weeks.
The Knot Honeymoon Fund is a great option if you're looking for cash towards your honeymoon or if you want to exchange experiences instead of gifts. It's also convenient for your guests as they don't have to write a check or travel with cash.
Some alternatives to The Knot Honeymoon Fund include Traveler's Joy, SPUR Experiences, Hitchd, Honeyfund, Honeymoon Wishes, and Blueprint.
