Buyer Transactions with OodiPay
Oodi is free for buyers to use! The only time Oodi will charge you is to cover the processing fee when paying via credit card.
Using OodiPay's secure process, you can make payments from your bank account to sellers without ever having to leave the site. There are no fees associated with paying via your bank account.
Oodi supports Visa, Mastercard, and AMEX payments, which incurs a 2.9% + 30¢ processing fee for each transaction.
eCheck / Direct Debit
2.9% + 30¢
We want our buyers and sellers to find the perfect match, so we’ve made Oodi free to use until that match is made. Oodi charges the seller a graduated fee based on the total budget of each job.
The fee is calculated in a similar way to your taxes, except Oodi reduces the fee as your budget increases.
|15%||$0 to $5,000|
|13%||$5,001 to $20,000|
|10%||$20,001 to $75,000|
|8.5%||$75,001 to $125,000|
|7%||$125,000 and above|
What do you mean "graduated"?
With a graduated fee structure, fees are applied in steps. The total cost of the service is split into the appropriate brackets and each bracket is only charged the corresponding fee percentage.
For example, if you have a $20k project, the first $5k is charged 15%, and the next $15k is only charged 13%.
The total fee is then split proportionally between each milestone offered in the service. Let's look at a few more examples.
Let's say you offer a service for $5,000. You've split it up into 3 milestones.
Milestone 1: $3,000
Milestone 2: $1,000
Since a $5,000 service falls within the 15% bracket, Oodi's fee is $750 split proportionally between the milestones.
That was an easy one. What if the cost of the service falls in one of the higher brackets?
|MILESTONE||PAYMENT||OODI FEE||PARTNER INCOME|
Now let's say you offer a service for $50,000. Since this falls in a higher bracket, we calculate the fee in multiple steps.
1. The first $5,000 is charged 15%.
2. The next $15,000 is charged 13%.
3. The remainder is charged 10%
4. Add that all up and you get your fee!
Whew! Good thing there's a calculator, right? Whenever you configure a service, Oodi will always show you the fee as you go so there are no surprises.
|$0 - $5,000||15%||$750|
|$5,001 - $20,000||13%||$1,950|
|$20,001 - $75,000||10%||$5,500|
|$75,001 - $125,000||8.5%||$4,250|
Yes! All payments processed with our OodiPay payment and escrow service are Level 1 PCI DSS compliant, which means your purchases are secure and protected.
We have decided to use a “graduated” fee structure to ensure fair use of the site. Using this structure, we can reduce our fee as the size of jobs increase without running into any ways to game the system.
If you need to cancel a job for a valid reason, you will be directed through our dispute resolution process where a third-party dispute resolution team will review the work that has been provided to date and determine if the money in escrow should be paid to the seller or returned to the buyer. All funds paid and approved prior to the dispute are not eligible for a refund.
No, unfortunately, this violates our Terms of Service. We ask that you keep the relationship on Oodi. But, beyond that, we really believe that getting paid immediately, accesses to free dispute resolution tools, and gaining ongoing insight into your client’s true satisfaction will help you get more value out of your clients and build stronger relationships.
Yep! Oodi services are fully configurable. You decide what deliverables are in each package, how many milestones there are, what's delivered on each milestone, how much each milestones costs, and your expected timeline. It’s that simple.
This is the standard fee that our credit card vendors charge for the convenience of paying via credit card. Oodi offers other methods of payment, such as eCheck, that do not incur any charges.