Forwardly's pricing aims to be as straightforward as possible. We only charge for two reasons: receiving an instant payment and using a credit card. If you send a bank payment, it's always free. If you're receiving a bank payment, you only pay when it's instant.
When paying by credit card, who pays the fee is determined by the payee's credit card policy. They may choose to pay the credit card fee themselves or have the fee paid by their payer. If the fee is to be charged to the payer, it will be clearly shown during payment.
Costs to send a payment
How you pay | Payment speed | Costs to send |
Bank account | As fast as possible1 | Free |
Pay by card Only available if accepted by your vendor. |
1-2 business days | Free or 2.99%4 |
Costs to receive a payment
Method | Payment speed | Costs to receive |
Bank account Forwardly defaults to sending payments instantly; selecting slower methods is not possible. |
Instant transfer1 | 1% ($1 - $10 max fee) |
Same-day transfer2 | Free | |
Slower transfer3 | Free | |
Card payment | 2-3 business days | Free or 2.99% + $0.25 per settlement4 |
1 Forwardly always tries to send payments the fastest way possible. Instant transfers are only available for businesses using banks that support instant payment technology with a positive payment history on the platform.
2 If your bank doesn’t support instant payment technology, then received payments will be processed on the same business day. The scheduling deadline for same-day payments is 1:15 pm PT | 4:15 pm ET from Monday to Friday (not including bank holidays).
3 For new businesses on Forwardly, the first few payments will be received more slowly, within a standard 3-5 business day format if the sender’s bank is connected via Plaid.
4 Card fees may be applied to the client or vendor based on the vendor’s business policy.
What if a payment fails, needs to be returned, or is charged back? Are there any extra fees?
For invoice payments initiated by you, if your customer’s payment fails, is returned, or is charged back, you will be charged the fee.
For bill payments initiated by you, you are responsible for any NSF charges.
We recommend Plaid bank connections for all businesses using Forwardly, as they can help reduce the likelihood of NSF situations.
Non-Sufficient Funds (NSF) Fee |
$20 |
Stop Payment/Return Fee | $20 |
Failed Credits (Incorrect Payee Account +) | $15 |
Card Chargeback | $15 |
+ This fee is waived for bank accounts connected via Plaid.
Tip: Forwardly enables access to funds instantly, giving you more control over critical cash flow as instant bank payments are delivered and deposited in the bank accounts in seconds, 24/7. |
Instant payments
With Forwardly, you can send money for free and receive bank payments instantly for 1% per transaction (see details above). When receiving bank payments, Forwardly processing fees are calculated on an invoice-by-invoice basis. Processing fees don't come out of the processed bank payment but are charged to the payment receiver (Payee) monthly. This is to ensure that all payments are reconciled perfectly and processing fees can be carefully tracked.
Traditional payment providers like credit cards charge an average of 3% in processing fees. Forwardly offers a modern way of transferring payments instantly, where users can enjoy a cost-effective avenue to accessing their funds sooner than ever.
Card payments
If you accept credit or debit cards via Forwardly, you have the option to impose a surcharge on customers paying by card to offset the card fee. This practice must comply with rules established by:
- State law
- Federal law
- Card association rules and regulations
Remember that some states don't allow card fees or surcharges. Check your state's laws on card fees and surcharges. If there's a chargeback on a card payment, Forwardly will charge $15.
Reminder: With our unique and first four-way sync with leading accounting platforms, payments are automatically reconciled for you and your clients or vendors instantly without lifting a finger. We make reconciliation easy. |
Do you offer special pricing for high-volume businesses?
Yes! For businesses receiving or sending over $1 million in payment volume per month, we offer exclusive incentive pricing when you commit to using Forwardly as your primary business payment solution. Contact our team by submitting a ticket, and we’ll be happy to discuss how we can support your business growth with tailored pricing.