Yes, Humm generally requires a deposit for its larger purchase plans, specifically for what they refer to as "humm Big Things" transactions. A 20% deposit is required on the date of purchase for these types of transactions.
Understanding Humm Big Things Deposits
Humm operates a "Buy Now Pay Later" service that allows consumers to make purchases and pay for them over time. While smaller purchases (often called "Little Things") might not require a deposit, the "humm Big Things" category, designed for larger items, mandates an upfront payment.
Key details regarding deposits for humm Big Things include:
- Deposit Percentage: A 20% deposit of the total purchase price is required.
- Timing: This deposit is due on the date of purchase, meaning it must be paid at the time you complete your transaction with Humm.
- Applicability: This requirement specifically applies to "humm Big Things" transactions, which are typically for higher-value goods or services.
Additional Fees and Transaction Limits with Humm Big Things
Beyond the initial deposit, it's important to be aware of other fees and limitations associated with humm Big Things to fully understand the financial commitment.
Fee Type | Amount |
---|---|
Monthly Fee | $2.50 |
Establishment Fee (each time you enter a humm Big Things transaction) | $20.00 |
In terms of transaction limits, customers are typically allowed to have:
- Up to 5 humm Big Things transactions active at any one time.
Understanding these aspects, including the deposit requirement and associated fees, helps in making informed decisions when utilizing Humm for larger purchases.