This week we’ve made a change to Folksy Plus account. When it was first introduced, The Folksy Plus Account was only available as one-off annual payment of £45, designed to meet the needs of sellers who list a lot of products or list frequently, but earlier in 2018 we added an option to pay monthly, at a cost of £5 a month. We hoped this would offer Folksy sellers more flexibility and that by breaking it up into smaller payments it would be more affordable, as we know many of you are on tight budgets. The monthly payment plan proved incredibly popular, and we have decided to retire the annual option.
We understand that for Folksy sellers on the annual account this will add £15 to their bill over the year. We do always try to keep all fees, commissions and costs on Folksy as low as possible so we can continue to support small businesses and help them grow, which is why this is the first price increase we have made to the Folksy Plus account since it was introduced in 2012. We hope that the slight increase in the amount paid over the year won’t cause you too many problems and will be offset by being able to split the payment over 12 months.
We are also currently reviewing what we offer as part of the Folksy Plus Account and we’re hoping to make it even better in the New Year, giving you more as part of the Folksy Plus package. We will keep you posted on that but in the meantime, we believe the £5 option still offers really good value for money and hope you agree.
What the change mean for you
• If you are currently on the £5 monthly plan, you won’t see any changes and can continue using your Folksy Plus Account as normal.
• If you are on the annual Folksy Plus Account plan and currently pay by subscription to a recurring direct debit, your account WILL renew after 12 months and you will be able to remain on the annual Folksy Plus plan (at least for the moment).
• If you signed up to the annual Folksy Plus Account before we introduced recurring direct debit payments your account WILL NOT renew and if you wish to continue as a Folksy Plus seller, you will need to join on the £5 monthly membership.
• No new direct debits can be set up for the 12 monthly plan.
We really hope this doesn’t cause you too many problems but if you have any questions, please do contact our support team at email@example.com and they will be able to help you.