A Guide to Payment Plans & FAQs

What has changed?

We have made a simplified and consolidated version of existing payment plans. You can change payment methods, your payment frequency and you now have options on which date your payment gets taken. Now, no matter how many different booking orders you have, they will all be under the same payment plan, payment method and payment date every month. For example, if you have 5 different booking orders, with 100 bookings between them, now they can all be managed under the same plan. 

🚨This payment plan update means that when you set up a new payment plan, it will also include bookings in the past which are unpaid or partially paid.
 

How is this beneficial?

🌟 Simplifies payments and reduces need for multiple payment plans for you if you have several repeat bookings set up.

🌟 You now have a new dashboard on your Customer portal to manage your payments and set up an overall payment plan with choice of frequency and more transparency and control of your payment schedule than before.

🌟 This payment plan update will account for changes that happen to bookings proactively i.e. if you or the venue cancel or change any of your bookings made ahead of time, the system will calculate the new price and adjust your payment plan accordingly.

How you will get notified about your payment plan.

You will receive the following notifications via email: 

🌟 Payment receipts 

🌟 "Your next payment at ____"

🌟 Payment plan updates ie: for payment failure, or changes to price because of a cancellation or (approved) booking amendment.

🌟 "Your bookings may be cancelled" if you have had a couple of payment failures due to insufficient funds or an expired form of payment. You will be given the option to attempt the payment again.

Can you make changes to the frequency of your payments?

When setting up a payment plan you can choose the frequency and the date of the week the payment will come out. However, there are limits to this.

For instance, as a customer on a monthly payment plan:

If I choose the 5th of September as the date for my payment plan for all of my booking orders:

It will take the amount of money from the date you set it up and all the unpaid bookings up until October the 5th, it will also take 3 more days worth of payment (if applicable) for card and 7 days if your plan is via Direct Debit.

To clarify, the system will take payment for a month from the date you are selecting rather than the calendar month. So it will align with the 5th of every month, and not a specific amount of days and weeks.

How does your payment plan change if you or the venue cancels a booking?

Venue-led cancellations will remain the same as they do now, i.e. it will refund automatically if within the cancellation policy or can be triggered manually. If you cancel a booking within the cancellation policy, your payment plan will adjust and your venue will be notified.  

Are there different payment plan processes when I pay with card versus direct debit?

 Please note that direct debits take longer to process. There is a 3 day window for card payments when taking payment processing into consideration; however, for direct debit payments, it can take up to 7 days to process. 

Can I change my payment method?

Yes, you are able to change your payment plan method from within the Bookteq customer portal.

What happens in the case of a payment failure?

As previously mentioned,  this update includes improved handling of failed payments. In the case of a payment failure, an email will be triggered to both the venue and you. Before, you would have to fix a payment failure via a payment link. Now the solution is to go to the customer portal and either pay or change your method. After one failed payment attempt, the email lets you know the payment will be tried again the following day.