Overview
If you collect direct payments from your clients, they will be added to the trip or group's Funds balance, where the payments will be stored until they are either withdrawn to your bank account or used to pay suppliers.
(Note: Some members automatically receive client direct payments as a deposit in their bank account by default. This is known as Legacy Direct Payments, and these members can still use the Funds option by enabling it on a per-trip or per-group basis, as explained in this guide.)
- Overview and availability
- How Funds works: Clients
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How Funds works: Agents
- What can I do with my collected Funds balance?
- How do virtual credit cards work?
- How many times can I use a virtual credit card?
- How do I cancel an unused virtual credit card?
- What if the charge is more than I authorized when creating the card?
- What if the charge is less than I authorized when creating the card?
- How are exchange rates handled?
- Are other supplier payment options available?
Overview and availability
What is Funds?
Funds (also known as Trip Funds or Group Funds) is how TravelJoy handles client direct payments, and consists of a running balance on each trip or group where these payments are processed. This balance can be used to pay suppliers or withdraw your fees and markup.
What is the difference between Trip Funds and Group Funds?
Payments made toward individual trips will go into that trip's individual "Trip Funds" balance.
Payments made toward trips that are part of a group will go into that group's combined "Group Funds" balance, allowing you to collect payments across many trips and make lump sum payments to your group's suppliers.Â
Who qualifies to use Funds?
To collect payments into a Funds balance, you must enable direct payment processing by visiting Settings -> Direct Payments.
Which payments go into Funds?
Payments will go into a Funds balance anywhere the client makes a direct payment, including direct group booking pages, direct invoices, and smart proposals with payment options enabled.Â
Which payments do not go into funds?
Because Funds is a real balance collected from your clients, you will not see a change in your balance when a client authorizes payment with supplier invoices or credit card authorization forms. The one exception to this is the ability to process individual authorizations on a supplier invoice.
Can Funds be disabled?
No. Because Funds is the way that TravelJoy manages direct payments from your clients, Funds cannot be turned off. If you no longer wish to process direct payments at all, our support team can assist.
How Funds works: Clients
What will clients see on their billing statements?
When a client makes a direct payment, the charge will display as your agency on their statement. When you withdraw these funds or use them to pay a supplier, the client will not see this, as you are using money that you've already collected from the client to complete these transactions.Â
Which payment methods are available?
Clients can make a direct payment with any major credit card, and these funds will be available to pay suppliers immediately. While clients can pay using the bank transfer option, this payment method is still subject to the 2-8 day waiting period while the payment clears the bank.Â
When are clients charged?
The client's credit card or bank account will be charged immediately when making a direct payment.
What happens if the client requires a refund?
You can request a refund from the invoice's payment schedule as seen in this guide. Â
Note that refunds from suppliers that you've paid via virtual credit card will go back to the Funds balance, and will not automatically be refunded to the client.Â
How Funds works: Agents
What can I do with my collected Funds balance?
- Pay your suppliers instantly using a virtual credit card to lock in a low rate
- Pay a group's supplier in one lump sum after collecting funds from all travelers
- Withdraw your markup to your bank account at any time
How do virtual credit cards work?
For the most part, they work just like any other credit card! Since these are your funds, the card is issued in your name, and you will use your own address or ZIP Code during checkout.Â
How many times can I use a virtual credit card?
Virtual credit cards are designed to be single-use.Â
How do I cancel an unused virtual credit card?
To the right of the "Ready" status indicator, click the credit card icon to open to the card details, and then click the option to cancel the card. The card balance will be automatically returned to the Funds balance.Â
Note that virtual credit cards in any status other than "Ready" cannot be cancelled.
What if the charge is more than I authorized when creating the card?
The charge will not be successfully authorized. Reach out to the support team to cancel the virtual card and return the amount to the Funds balance so that you can create a new card for the correct amount.
What if the charge is less than I authorized when creating the card?
The charge will go through successfully. Once the payment is captured by the supplier, the leftover funds will be released back to the Funds balance automatically. This typically takes three to four business days.
How are exchange rates handled?
Exchange rates fluctuate automatically throughout the day. A suggested best practice would be to create the card with a 5% cushion in the authorized amount to account for any fluctuations. As above, the leftover funds will automatically be released back to the Funds balance once the payment is captured.
Are other supplier payment options available?
We also offer the ability to send a wire transfer or ACH bank transfer.Â
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