What Are Platform Fees and Why Do We Take Them?

An explanation of the ClassForKids platform fees and how they work

Connie avatar
Written by Connie
Updated over a week ago

Why do ClassForKids take a platform fee?

To help operate the ClassForKids platform and its many great features, we charge a platform fee for all payments facilitated and processed online.

What value does my club get from this?

  • Booking secured and payments upfront - no more chasing parents for money during term time

  • Payments are processed automatically into your bank account - fewer trips to the bank, more time planning your sessions

  • Financial data is automatically recorded and analysed with our intuitive financials feature

  • Refund facility

What’s in it for your parents

  • Safe and secure way to pay which gives your business that professional feel

  • Convenience of paying online (no time and effort needed to produce cash/cheque)

  • Peace of mind that their space is secured

  • Booking and payment done in one place - no being passed around different websites

  • Parents don’t like choices - keep it simple

When do you take a platform fee?

When you take an online payment, ClassForKids will automatically deduct the 3.1% platform fee (plus Stripe fees) from the total transaction amount.

How is the fee deducted?

This charge will be taken directly from your parents payment before the remainder of the money you have made is paid to you.

Most clubs choose to increase their prices to accommodate this fee as a cost of doing business.

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