Overview
In this article, we'll cover frequently asked questions about Fergus Pay
Processing Fees
Each transaction completed with Fergus Pay includes processing fees that vary depending on your region. We regularly review our fees to align with the current market rates.
| New Zealand | Australia | United Kingdom* |
Processing Fees | 2.95% + $0.30 | 1.95% + $0.30 | 1.6% + £0.20 |
The fees are calculated as a percentage of the total invoice amount plus a fixed amount. For example a $100 invoice in New Zealand would incur fees of $2.95 plus $0.30 for a total of $3.25 ($103.25).
In Australia and New Zealand, the fees can be either absorbed by your business or passed on to the end customer.
*The United Kingdom has legislation that means that you cannot pass on the fee to your end customer, and you must absorb the processing fee.
Managing Processing Fees
In New Zealand and Australia you have the option of managing your fees in three different ways. In the United Kingdom you cannot pass the fee to your end customer and you must absorb the processing fee.
You can choose to absorb the fee and not pass it on to the customer. Our data indicates that customers are 2.5 times more likely to pay by credit card when the fee is absorbed. You can choose to increase your margins to offset the processing fees. Your customer will see that the invoice total amount and the credit card payment amount is the same. When the invoice is paid with a credit card then the fees will be subtracted from the final amount that will be paid out.
You can choose to pass the fee on to the customer. Your customer will see that the invoice total amount and the credit card payment amount are different as this has the fees added. When the invoice is paid with a credit card then the fees will be subtracted from the credit card payment amount and you will be paid out the invoice total amount.
You can choose to pass the fee on to the customer above a threshold amount. This allows you to absorb the fees on smaller invoices and pass on the fee on larger invoices.
Payment Limits
Fergus Pay has transaction limits that vary depending on your region. These limits are designed to protect your business and reduce potential losses from fraudulent activity. For details specific to your account or region, please contact our support team.
Is there still a PDF attachment for Invoice emails?
By default, if Fergus Pay has been activated then the invoice PDF will not be attached to the email as this has a few advantages.
First, removing the PDF attachment and adding a button means we can track whether your customers have viewed the invoice or just opened the email.
This information will be available for you under Invoicing Tools in the Job Card:
Second, by removing the PDF as an option we can direct your customers straight to the payment portal. It makes it easy for your customers to pay the moment they view the invoice and takes away some of the "barriers to entry". You are more likely to be paid on the day of invoicing with this method.
Finally, this method is more secure. Invoices are much harder to alter when presented this way.
Please Note: If you wish to send the invoice as a PDF attachment when billing your clients please email support@fergus.com and request for PDF invoices to be activated in your account.
Can my customer still pay by bank transaction?
Yes, of course! Your bank account details are still displayed at the bottom of the invoice.
How do the payments sync across to my accounting package?
Payments will be handled the same way as before - they will sync across as a transaction that you will need to reconcile against the correct invoice.
When you receive credit card payments into your bank account, it will show as a deposit from Fergus Payou, and the deposit will likely be for multiple invoices.
(It may show as Fergus Payou depending on your bank).
The quickest way to reconcile this deposit against your invoices is to consult the Fergus Pay Report found in the Reports menu.
Click Show to the right of any deposit and you will see a breakdown of which invoices this deposit covers.
Use this information to reconcile against your invoices like usual in your connected accounting package.
How long does it take to process the payment?
Payments generally take 1 to 4 business days to receive. However, the first payout for every new Stripe account is typically paid out 7 days after the first successful payment is received. This waiting period can be up to 14 days for businesses in certain industries.
How do I process the payments in my accounting package if I have absorbed the service fee?
Since the payment will be less than the service fee, you will need to assign the payment to the invoice and then assign the outstanding remainder on the invoice to an account code for transaction fees.
You can find more detailed information on how to do this in Xero here:
For MYOB here:
For Quickbooks here:
Why was the surcharge fee deducted from payment even if it was set up to be passed on to the customer?
The card payment fee chosen will affect all forthcoming and unapproved invoices.
For invoices generated before the implementation of Fergus Pay, the surcharge fee will be deducted from the payment.
Consequently, if you wish to pass on this surcharge fee to the customer, you will need to manually adjust the payment terms in the pre-existing jobs created before setting up Fergus Pay.
Thanks for taking the time to read our Article, if you have any questions please get in touch via support@fergus.com