Note: In addition to paying suppliers, you can also withdraw your fees or markup from the group's Funds balance, which you can read more about in this guide.
How it works
When clients in your group make direct payments, these payments flow into that group's Funds balance. This balance can be used to pay suppliers via virtual credit card or bank transfer.
Client credit card payments are available to pay suppliers immediately, while ACH payments become available once they have "cleared" the bank after approximately seven business days.
As your Funds balance works through collecting direct payments, it is not compatible with supplier invoices, which collect authorizations rather than direct payments.
Enabling group funds for Legacy Direct Payments
If your account is set up to automatically deposit client direct payments into your bank account instead of a Funds balance, you can still enable Group Funds on a per-group basis, subject to a 1% additional processing fee. This additional fee can be waived by opting in to our current Direct Payments offering. For details, reach out to our support team.
Enable Funds by visiting the Group Funds tab (on the All Travelers page) and choosing "Turn on group funds":
From here, you'll be prompted to enable Funds for this group, which will change the funding method from "Bank account" to "Group funds." This cannot be undone.
Now that you've enabled Funds, all direct payments made to this group will automatically be added to your group's Funds balance. Once clients begin making payments, learn how to instantly pay suppliers and withdraw funds for your planning fees.
Comments
13 comments
Hi Liz! I know we've already discussed this on your support ticket, but I wanted to share an answer here in case anyone else has the same question later:
Group Funds and Trip Funds require sending the client a direct invoice or booking via a direct group booking page, as authorizations from supplier invoices or forms cannot be directly used to collect payment. These features can only be used to collect the client's signed authorization and payment info.
I have a supplier group booking site set up with three bookings. If I turn on group funds, will my future guests who book via the group booking site receive direct invoices? I was under the impression that group funds had to be chosen at the outset of setting up you trip/booking site/group, but I see the option here on my group dashboard. After having read up some more on group funds/trip funds, I think this would be better to use. I just want to make sure I don't mess anything up by turning it on now.
Hi Danielle! A supplier group booking page will always remain to be a supplier group booking page, but you can create a duplicate of that page and make the new one direct.
From there, you can enable group funds at any time and new bookings (on the direct version of the booking page) will go to group funds automatically.
You can also manually create direct invoices for your existing bookings and send those, asking your clients to pay those instead, and they will also go to group funds automatically.
I was actually testing Group funds on a new group created, and it turned on funds for all my groups, and I do not want that. How can I disable it?
Hi Monique Dawson! While the new Direct Payments cannot be reversed, I am happy to share that this does not impact your ability to receive your planning fee to your bank account.
As soon as your clients make the payment, head over to the Funds page and withdraw those funds to your bank account. This guide goes over how to withdraw those funds: Withdraw funds from TravelJoy. :)
That's the problem, I do not want any funds going to my account. I created a new group and turn on funds to that group, I thought, but it turn on the funds to ALL my previous groups, and that is not what I wanted.
"Why does it take so long to see the funds transferred to my business account? I haven't received a response from TravelJoy and I need to pay my vendors. I'm currently using my own money to pay for deposits because I can't get a response. Can you please help?"
Hi Nancy! A response was just sent to you about your account, please feel free to respond directly to the response if you have any further questions!
I have a group flight. What’s my limit on paying suppliers? Reason for asking is that the final group payment to SW Airlines will be $41,000 and the payments can’t be split.
Hi La Rhonda! Currently, there is no limit restriction when paying Suppliers through TravelJoy. If you run into any issues, feel free to contact us directly and we can help you troubleshoot!
Is there a way to use one payment for a group who are using multiple payment methods without it going to my bank account?
Hi Keosha! When using Group funds, your clients can pay on their own invoices from their trip within the group. Those funds will be collected, along with all other payments completed by travelers within the group, in one convenient spot - the Group funds tab! From there you can use the funds to pay your suppliers with a virtual credit card or wire.
My clients have authorized their funds, how to I get them now into group funds?
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