It is free to join Folksy – there are no sign up costs and you get your first 3 listings for free.
We charge fees for listing items (there are two ways to pay listing fees, outlined below), and we charge a commission fee when you sell an item. No matter if you are on the Basic or Plus account, listings last for 120 days (approx. 4 months) unless the item is sold out or the quantity is reduced to zero. You can re-list items before their expiry date, up to once per day.
1. Listing fees
Basic Account (pay as you go):
- First 3 listings are FREE
- Thereafter £0.15 + VAT per item (IMPORTANT see below)
- All fees to be paid through PayPal (and Stripe, if applicable)
If you're just starting out, you might want to list your products at a quantity of 1 or 2 to begin with - you can always re-list items if they sell out!
If you intend to list a lot of items for sale, you can choose to pay for unlimited listings in advance by signing up to the Folksy Plus account. You can upgrade to Plus from the Basic account at any time from your Dashboard. Note that the benefits of the Plus account only take effect from the time you upgrade - any listing fees generated on your account before you upgrade are still chargeable.
- The Folksy Plus account costs £7.50 a month - or £75 a year for the annual account. This amount is payable by direct debit payment though GoCardless and is non-refundable after you have listed an item (i.e. once the service has commenced) or after 7 calendar days, whichever is soonest.
- Unlimited listings
- Free re-listing
- Commission fees are NOT INCLUDED, and will be billed and charged through PayPal or Stripe (see below)
2. Commission Fees
We charge 6% + VAT sales commission on the selling price of all items, whether you are on the Basic Plan, or Folksy Plus.
Commission is not charged on postage.
Item listed and sold at £10 + £2.50 postage.
Commission fee is charged on £10 at 6% + VAT
To work out 6% of £10, multiply £10 by 0.06 (£0.60)
To add VAT, multiply the amount by 1.2
i.e. (£10 x 0.06) x 1.2 = £0.72
How Commission fees are charged
- If your buyer paid through PayPal, the Folksy commission fee is added to your Folksy Bill
- If your buyer paid through Stripe, the fee is collected at the point of sale by Stripe. The Stripe fee charged therefore includes their transaction fee AND the Folksy commission fee.
3. Transaction fees
Paypal and Stripe charge Folksy sellers a fixed fee and a percentage of the transaction. Please check the prices on their sites for their current rates. The rates below are accurate at the time of writing.Stripe transaction fee:
1.4% + 20p for transactions on European cards
2.9% + 20p for non-European cards
Paypal transaction fee:
3.4% + 20p of the amount you receive.
More about offering payment by Stripe here: Card payments using Stripe
How are fees billed and paid for?
Bills are generated on the 1st of each month, in arrears (i.e. you pay for your use of Folksy in the previous month) on any fees over £2. If your fees are below £2, they are rolled over to the next month.
You will be sent an email on the 1st of the month if there are any fees due on your account. Bills must be paid by PayPal by the 1st of the following month otherwise your account will be placed on hold until all bills are paid.
More about billing: Understanding and paying your Folksy bill
Folksy Ltd. is a VAT registered business and so we have to charge VAT on our fees to sellers.
20% VAT is added to the subtotal of your listing and selling fees.
To work out a VAT-inclusive amount, multiply the ex-VAT amount by 1.2
For further information please see the HMRC’s guide to VAT