Fees, explained
Paying by bank is free. Here's everything else, in plain numbers.
- Setting anything up is free, and so is paying by bank
- Paying by card adds 1.9% + 20p for the person paying, shown on the button
- Gift pots: free if spent on a gift card, 3% from the pot if taken as cash
- Splits and deposits: 1% for the organiser when they withdraw, never more than £5
This is a prototype
When you pay
Chipping in to a gift or paying your share of a split works the same way.
Paying by bank
FreeChip in or pay your share straight from your banking app. No card details, and no fee.
Paying by card, Apple Pay or Google Pay
1.9% + 20pA small card fee for the person paying, shown on the button before they tap. On £10 it's 39p.
Already paid another way
FreePaid the organiser by bank transfer or cash? Tap “I've already paid” and they'll tick you off.
When you organise
Spend a gift pot on a gift card
FreeEvery penny goes on the gift card, sent with the group card.
Take a gift pot as cash
3% from the potFor buying the gift yourself. On a £100 pot it's £3, and you see it before you withdraw. Nobody who chipped in pays more.
Get paid back for a split or deposit
1%, never more than £5When you withdraw, Ottsy takes 1%, never more than £5 a split. On a £60 dinner that's 60p; on a £600 cottage it's £5. The people paying never pay it.
Examples
| Amount | By bank | By card | Pot as cash | Split |
|---|---|---|---|---|
| £5 | Free | +30p | −15p | −5p |
| £10 | Free | +39p | −30p | −10p |
| £20 | Free | +58p | −60p | −20p |
| £50 | Free | +£1.15 | −£1.50 | −50p |
| £100 | Free | +£2.10 | −£3 | −£1 |
| £300 | Free | +£5.90 | −£9 | −£3 |
| £600 | Free | +£11.60 | −£18 | −£5 |
“By card” is added for the person paying. “Pot as cash” comes off a gift pot when the organiser withdraws it. “Split” comes off what the organiser withdraws from a split, never more than £5. A gift card has none of these.
Questions about fees
Why is paying by bank free?
Bank payments cost us far less than card payments, so we cover them. You choose your bank, your banking app opens, and you approve the payment there, usually with Face ID or your fingerprint. There are no card details to type, and the money goes straight to the pot.
Why is there a fee for paying by card?
Card companies charge for every payment: about 1.5% + 20p on a typical UK debit card, and more on premium and business credit cards. The 1.9% + 20p card fee covers that on average. On £10 that's 39p, of which around 36p goes straight to the card companies.
It's always your choice: the fee is on the button before you tap, and paying by bank is free.
Can I avoid fees completely?
Yes. Pay by bank, or tell the organiser you've already paid them another way. Organisers pay nothing if a gift pot buys a gift card. On a split, only money paid through Ottsy has the organiser fee: anyone who pays you directly and taps “I've already paid” costs you nothing.
Why do organisers pay a fee on splits?
Every payment costs us something, even free bank payments, and so does sending the money to your bank and checking it's really you. On a gift pot, the gift card discount pays for that. On a split there's no gift card, so when you withdraw, we take 1%, never more than £5.
You see it before you set up the split and again before you withdraw, and it never goes over £5, however big the split. Splits set up before this fee was introduced stay free.
Why is taking a gift pot as cash 3%?
When a pot buys a gift card, the gift card company gives us a small discount, which pays for everyone's bank payments and keeps Ottsy running. When the pot is taken as cash there's no discount, and we still pay for each payment into the pot and for sending the money to your bank. 3% covers that. You see the exact amount before you withdraw.
Does anyone who chipped in pay more if the organiser takes it as cash?
No. The 3% comes out of the pot, and only when it's withdrawn. What you paid never changes.
Is there a fee when I pay my share of a split or deposit?
Not by bank, and not if you've paid the organiser another way. Only paying by card adds the card fee, and the button shows it first. Your share goes to the organiser in full; if they withdraw it through Ottsy, they pay a small fee (1%, never more than £5), not you.
Do I get the card fee back if I'm refunded?
Yes. A refund gives back everything you paid, including any card fee.
I paid a service fee before these fees changed. What happens to it?
Nothing is charged twice. If the pot buys a gift card, the service fee you paid goes into the gift. If it's taken as cash, your contribution doesn't count towards the 3%.
How does Ottsy make money, then?
Mostly from gift cards: the gift card company gives us a small discount when a pot buys one, and the gift still gets the full amount. Also from the 3% when a gift pot is taken as cash, and the organiser fee on splits (1%, never more than £5). The card fee roughly covers what card companies charge us.
In future we plan to offer optional extras, such as posting a printed group card, and to earn a commission when you buy a gift through a link. None of these change what you pay.
Are there any other charges?
No. Invitations, replies, date polls, to-do lists, group cards (on their own or with a gift), photos and working out who owes who are free, and there's no subscription.
Is this live? Will I be charged today?
Not yet. This prototype doesn't take any real money, and you'll never be asked for bank or card details. These are the fees we plan to charge at launch, set up with a regulated UK payment provider, and they may change after review.
Something we haven't answered? See the other questions people ask.
