All about the different payment methods supported by BitFolk.
TL;DR what's supported?
In the order that BitFolk likes them:
- Direct Debit (you'll need a UK bank account)
- Credit/debit card (Visa, MasterCard, American Express)
- PayPal
- Bank transfer in GBP (£)
- Cheque, postal order in GBP (minimum £25.00)
- Bitcoin
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 used to be BitFolk's #1 for this, because it has some things going for
it for the merchant, but BitFolk has increasingly come to be concerned about
the horrendous externalities in the form of damage to the environment, so
BitFolk no longer wants to encourage it.
Direct Debit
- Main article: Direct Debit
| Partner
|
GoCardless
|
| One-off manual payments?
|
Yes
|
| Automated recurring payments?
|
Yes
|
| Costs to BitFolk
|
1% + £0.20, capped at £4.00 per transaction
|
Credit/debit card
| Partner
|
Stripe
|
| One-off manual payments?
|
Yes
|
| Automated recurring payments?
|
Yes
|
| Costs to BitFolk
|
1.9% plus £0.20 (more for non-EU cards)
|
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
|
Bitcoin
- Main article: Bitcoin
| Partner
|
Own integration
|
| One-off manual payments?
|
Yes
|
| Automated recurring payments?
|
No
|
| Costs to BitFolk
|
Free
|
Retired payment methods
Google Checkout
Google Checkout was shut down by Google on 20th November 2013.
Proposed payment methods