At Bonusly, there are two ways that you can set up payment for rewards: Post-pay and Pre-pay.

Post-pay

This is the default payment mode. When an employee receives a reward, Bonusly fulfills it and records a line item for the face value amount of that reward. At the end of the month (or when the total amount of rewards exceeds a threshold) Bonusly charges the total to the payment method on file. A 3% convenience fee is added to cover the risk Bonusly incurs by paying for your employees' rewards up front.

Pre-pay

With pre-pay, Bonusly bills your payment method a certain amount, up front, and records the balance. As employees get rewards, Bonusly deducts the face value of the rewards from that balance. When the balance falls below a certain threshold, Bonusly charges the same fixed amount to your card and records the balance.

Frequently Asked Questions

Why should I switch to pre-pay?

Here are the advantages of pre-pay:

  1. No fees. There is a 3% convenience fee for companies on the post-pay method. This fee is waived for companies on pre-pay.
  2. The amount charged to your credit card is the same every time, so there will be no variable or hard-to-identify charges. Keeping your books reconciled will be easier.
  3. If your card expires or otherwise goes bad, you have time to update your payment information to ensure service is uninterrupted for your team.

Why is there a fee for post-pay?

With post-pay, Bonusly is buying the rewards for your employees and only charging your credit card at a later date. If your card goes bad or your company goes out of business, Bonusly has lost that cash. To cover the increased risk, Bonusly adds a 3% convenience fee.

Still need help with this? Shoot us a message at support@bonus.ly and we'll get you squared away! 

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