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Understanding service fees

BorrowMe charges small service fees to maintain our platform and provide protection for users.

Fee Structure

For Borrowers

  • Service fee: 10% of the rental price
  • This fee covers platform maintenance, customer support, and payment processing

    • For Lenders

  • Service fee: 5% of earnings
  • This fee covers payment processing and platform services

    • Example

    If an item is listed for $100:

  • Borrower pays: $100 + $10 service fee = $110
  • Lender receives: $100 - $5 service fee = $95

    • Payment Processing

  • All payments are processed securely through our platform
  • Funds are held in escrow until the rental is complete
  • Lenders receive payment 2-3 business days after successful return

    • Refunds

  • Cancellations more than 24 hours before pickup: Full refund
  • Cancellations within 24 hours: 50% refund
  • No-shows: No refund

    • Questions?

    Contact our support team if you have questions about fees.

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    Understanding service fees | BorrowMe