Honeyfund Review [2020 UPDATE]: How Does Honeyfund Work?
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Whether you are trying to find the perfect wedding gift for a friend or relative, or you are newlyweds with hopes of having a great Honeymoon, you need to know about Honeyfund!
Honeyfund is a wedding registry, specifically for honeymoons for new brides and grooms! Like the name suggests, it’s a great way to save for your honeymoon fund, sharing with family and friends. And it just so happens to be the number one of its kind.
While Honeyfund is primarily known for funding honeymoons, it is also used as a crowdfunding site for weddings, charities and even down payments on homes!
Honeyfund has been featured on the television show Shark Tank as well as numerous publications like The New York Times and Vogue, and even has a partnership with Target!
How the Honeyfund Service Works
You create your wedding planning and honeymoon page + registry which comes with the following:
- Customizable traditional gifts wishlist (wedding gift registry)
- Gift card registry
- Universal registry capability
- Store registry syncing
- Exclusive service discounts and offers
- A webpage to share and post on social media (e.g. Facebook, Twitter share)
If you are unsure of how to create your own registry experience or don’t want to spend the time and effort, choose from Honeyfund’s own popular, pre-selected honeymoon travel options including:
- The Hawaiian Islands
- The Caribbean
You choose your payment options, one of which is the Honeyfund Balance. It is the essential feature of Honeyfund and the most flexible way to receive your gifts. There are no transaction fees.
How to Get Around Honeyfund
Your guests visit your page and registry and follow these quick, easy steps:
- Select a gift or amount they want to give
- Enter their name and email address
- Enter their payment information (all major debit and credit card providers are accepted)
- Receive confirmation and receipt
- Your gifts/funds become available immediately as a cash registry (like a bank account balance)
- You view each gift, and its payment method on the “gifts received page.”
- Click on the “gift” section, then the “redemption history tab.”
- Follow the redemption steps
- Withdraw the funds via digital gift cards
If some of your guests aren’t sure of how to use Honeyfund, there is an option to designate someone as a contact person to answer questions and offer help.
The Honeyfund balance does not expire and can be disabled in your payment settings if you so desire.
While the Honeyfund balance cannot be redeemed for cash, it can be used with any of Honeyfund’s partners who offer such services as:
The Honeyfund balance isn’t the only way to redeem what you receive from your guests. You can choose to withdraw money your guests give you via WePay or PayPal.
How to do this
- Create a PayPal or WePay account
- Choose this as your payment method when you set up your registry
- Click on the “withdraw” button to log-in to your PayPal or WePay account
- Click the “withdraw” tab to get your money.
Note: There are some small fees associated with this method.
The only other fee associated with Honeyfund is for the low-cost upgrade for your registry if you so choose, which allows for:
- Numerous textures, fonts, and colors
- Custom Backgrounds
- No Ads
- Protection for your password
Also, Honeyfund offers access to several honeymoon package deals and discounts. You can also book your travel and pay for it through one of Honeyfund’s many travel partners or your own.
Before using Honeyfund and receiving your gifts, it is recommended that you:
- Estimate how many of your wedding guests are likely to contribute and how much
- Share your registry as much as you can. This allows you to:
- Have an idea of where you can go and want you want to experience
- A budget for your travel costs
- Estimate how much you may have to pay before your Honeymoon in case you don’t receive your gifts on time
One bonus of choosing the cash payment option is the ability to reimburse yourself if you pay for some of your dream honeymoon expenses upfront (like credit card payments for deposits, etc…)
We hope this guide has been a helpful experience, and happy honeymooning!
Frequently Asked Questions [FAQ]
If guests send cash or check directly to you, then it’s 100% free. Otherwise Honeyfund accepts credit card payments via WePay or PayPal (both 2.8% + $0.30 fee) per transaction.
A Hoenyfund is absolutely not tacky, especially in this day and age. In fact, most guests will appreciate how Honeyfund brings some transparency (and will be HAPPY to help make your honeymoon happen).
Once you receive payments online you can immediately withdraw (no questions asked). There are no withdrawal fees.