Payment methods

All about the different payment methods supported by BitFolk.

TL;DR what's supported?

In the order that BitFolk likes them:

1. Bitcoin
2. Direct Debit (you'll need a UK bank account)
3. Credit card (Visa, MasterCard, American Express)
4. PayPal
5. Bank transfer in GBP (£)
6. Cheque, postal order in GBP (minimum £25.00)

In the order that BitFolk likes them?

Pay by whichever means makes most sense for you, but people regularly ask which is best for BitFolk. It's mostly about how much hassle they are to process, and how much it costs BitFolk to process.

Bitcoin

Main article: Bitcoin

Partner	None
One-off manual payments?	Yes
Automated recurring payments?	No
Costs to BitFolk	Free

Direct Debit

Main article: Direct Debit

Partner	GoCardless
One-off manual payments?	Yes
Automated recurring payments?	Yes
Costs to BitFolk	1%

Credit card

Partner	Stripe
One-off manual payments?	Yes
Automated recurring payments?	Not yet
Costs to BitFolk	2.4% plus £0.20

PayPal

Partner	PayPal (duh)
One-off manual payments?	Yes
Automated recurring payments?	Barely; altering them is awkward and it always takes a fixed amount, rather than only what BitFolk is owed
Costs to BitFolk	3.4% plus £0.20 (more if you're non-UK)

Bank transfer

Partner	N/A
One-off manual payments?	Yes
Automated recurring payments?	Barely; setting up a standing order at your bank is probably easy enough depending on your online banking, but altering it is going to be manual and it's always going to take a fixed amount, rather than only what BitFolk is owed
Costs to BitFolk	Free

Cheque

Postal orders are similar to cheques for BitFolk's purposes.

Partner	N/A
One-off manual payments?	Yes
Automated recurring payments?	No
Costs to BitFolk	£0.75 each, plus have to go to bank or post office

Retired payment methods

Google Checkout

Google Checkout was shut down by Google on 20th November 2013.

Proposed payment methods

• Pay it forward