new honeybook funds

I love Honeybook for all that it has to offer but especially the finance tools like ‘Expenses’ and ‘Profit & Loss’. I hope that these are brought back and don’t go away! I prefer having all of my business tasks and things in the same place, which is a main reason why I have my subscription. 

I agree. I really don't want to have to switch to something else. Or use two tools for my business. 

I agree! I am really upset they are removing it and have expressed my feedback via the chat but it doesn’t seem to be changing. It will cause me to move to a different platform. Also looking for advice if anyone has any recommendations. 

Hi Emily, Courtney, Kathryn, and Caroline. This is Kait from the HoneyBook Community team. I saw new comments pop up on this and wanted to take the time to thank you for your feedback. 

I understand how frustrating it feels to have a feature you’ve grown to rely on change, and acknowledge how valuable the expenses feature has been for your businesses. 

When we made the decision to sunset expenses and profit and loss as standalone features, it was not a decision made lightly. 

While HoneyBook Finance does come with a checking account, it’s about so much more than that—simplifying everything from invoicing to tax season preparation alongside your client relationships and project management. For example, HoneyBook Finance gives you access to tools that automatically categorize expenses, track business finances in real-time, and generate reports that can help make tax filing easier. These are all included at no additional cost, and we hope they bring even greater value than the stand alone expense and profit and loss features. 

I hope sharing a bit more about the how and why with HoneyBook Finance explains more than just needing to start a checking account. 

We appreciate you, your business, and our trust in us at HoneyBook. We genuinely love hearing feedback from our members, and your insights are invaluable. We are committed to incorporating feedback like yours in future versions of HoneyBook Finance and I’ve passed your comments on directly to the team. 

In theory that would be a great tool but what I don't want is the requirement to give my money to HB to hold in order to have those reports. I use HB finance currently for every expense I incur, I review what money is expected for the month and what is still to come. I look at where the money came from and review trends. I also use it to identify past due payments and previous month trends. I feel I'm losing a huge asset in HB by losing that whole piece. 

I recognize that decisions made by platforms like Honeybook are usually around profit so understand the addition of banking is something to grow the platform on the financial end. HB typically adds features and increases my productivity with them, this time around removing these key features feels like a hostage situation. Keep using Honeybook and all the features you have grown to love IF you bank with us. From the business end you will tell us how easy this is and how much better it is but right now it feels greasy on the consumer end to be forced into it. No reply needed but did want to voice my opinion on the launch of the new banking option. 

I completely agree with you!! I just hope they will leave it be. 

Unfortunately, I was unaware of this change until I read these comments. This will likely lead me to switch to 17hats or a similar platform. I understand the additional features you believe will benefit users, but my current business bank account already provides all of those services at no extra charge. I don't want the hassle of changing my bank and debit card information for all of my auto-pay accounts just to print my reports. I understand that you won’t be reversing this decision and seem comfortable with losing a significant number of accounts. However, I wanted to point out that many business bank accounts already offer these features—for instance, my virtual business bank account with Found does. 

I agree! I hope they will reconsider!! 

Thank you for sharing your honest feedback, truly. While @Alicia Putz you specifically mentioned that no reply is needed, I did want to acknowledge your concerns (as well as @Emily Wren and @virtuLO’s replies) because your perspective is incredibly important to us. While the goal with HoneyBook Finance is to enhance productivity, I realize this shift may feel abrupt and even unfair, especially for those who don’t yet have access or genuinely are not interested in the financial tools we are offering. We never want our members to feel forced into something that doesn’t fit their needs, and your feedback is crucial in helping us improve how we communicate and make future decisions—particularly with our finance products, which directly impact your bottom line. Thank you again for voicing your concerns. We’re listening, and your input is invaluable as we move forward.

why not just let the customers choose if they want to continue Expenses or sign up for the bank card?

I just want to still have the option to use it the way I use it today! Honeybook, we don’t want to be forced. please reconsider. 

They made this move at a terrible time! All of my 2024 expense reports are gone! This will be a headache to go back through the whole year! I’ll be switching platforms!

Those bank cards aren’t FDIC insured so if you got scammed or hacked your out of luck. 

Funds held in accounts provided through HoneyBook's partnership with Lincoln Savings Bank are protected by FDIC insurance, but HoneyBook's own services do not carry FDIC insurance.

HoneyBook is a software company, not a bank. Banking services are provided by Lincoln Savings Bank, Member FDIC. HoneyBook Visa Debit cards are issued by Lincoln Savings Bank, Member FDIC. HoneyBook is not FDIC insured. FDIC insurance only covers the failure of an insured bank.

Source: https://help.honeybook.com/en/articles/7910790-faq-honeybook-balance