This article includes the following sections:


General Payments Account Transactions

1. Where can I find my routing and account details?

2. What are my deposit, withdrawal, and spending limits?

3. How can I cancel a transaction that I made?

4. What do I do if I don’t recognize a transaction?

5. What fees will I be charged for my Wethos Payments Account and transactions?

6. Is there a free option for transferring?

7. How does Wethos handle overdrafts, insufficient funds, and negative balances?

1. Where can I find my routing and account details?

Your routing and account details will appear on your Transactions page within “Bank Account.”

2. What are my deposit, withdrawal, and spending limits?

Deposits

You may make deposits into your account using any of the methods described below. We do not charge you any fees for making deposits.

  • ACH (may include direct deposits)
    *The recipient’s name on any direct deposit or ACH transfer must match the name on the Account or the deposit may be returned to the originator.

  • ACH transfers to your Account from a linked payments account with another institution. Limit: $150,000/Month.
    *You may transfer funds between your Account and another payments account. The linked payments account must be located in the United States.

  • Internal transfers between eligible accounts managed by Wethos

  • Domestic wire (deposit only). We are working on the ability to send domestic wires in the near future.

  • Cash deposits can be made at any eligible, US-based Allpoint ATM. Deposits are limited to $1,000 per transaction, $2,000 per day. Allpoint ATMs do not accept checks, envelopes, or non-US dollars.

    *You can use your debit card to make deposits at in-network ATMs. You can identify an in-network ATM by looking for the Allpoint logo on or near the ATM. You cannot make cash deposits at out-of-network ATMs.

Withdrawals

You may withdraw funds up to the amount of your available balance in your account using any of the following methods.

Withdrawal Method

Limitations for Your Account

Internal transfers between eligible accounts managed by Wethos

None

ACH transfers from your Account to a linked bank account at another institution*

$15,000/Day

ACH transfer to a merchant or other third party you authorize to withdraw from your Account using your routing number and account number

None

* You may transfer funds between your Account and another payments account. The linked payments account must be located in the United States.

Spending

You may use your card to access funds up to the amount of your Available Balance in your Account.

Card Use

Limitations for Your Account

ATM Withdrawals

$150,000.00/Month

POS Transactions and other transactions at Merchants

$5,000.00/Day

ACH Origination Debit

$15,000.00/Day

ACH Origination Credit

$15,000.00/Day

3. How can I cancel a transaction that I made?

To cancel or dispute a transaction that you’ve made, call the toll-free number on the back of your physical card or on your virtual card (1-844-909-1623) to contact the VISA call center.

4. What do I do if I don’t recognize a transaction?

If you do not recognize some of the activity on your card, immediately call the toll-free number on the back of your physical card or on your virtual card (1-844-909-1623) to contact the VISA call center. You may also reach out to us at [email protected].

5. What fees will I be charged for my Wethos Payments Account and transactions?

There are no fees for having or maintaining an account with Wethos. The only fee that applies is a 1% transfer fee on any money coming into your Wethos Payments Account from any external bank account (excluding any of your own external bank accounts that you set up as 'linked accounts'). You’re able to move money between your Wethos Payments Account and your linked accounts for free.

When you apply for a payments account, you agree to pay all fees and charges applicable to your account. All fee amounts will be withdrawn from your account and will be assessed regardless of whether you have sufficient funds in your account, except where prohibited by law. Fees are subject to change at any time. We will provide you advance notice of any changes where required by law.

Fee Description

Fee Amount and Frequency

Additional Details

Direct payments/ACH debits via ACH Origination Service (see Section 5)

1% per Transaction

This fee will be applied to all deposits resulting from payment requests initiated from your Account.

Direct deposit

1% per Transaction

This fee will be applied to all direct deposits made ACH credits to your Account originated by another financial institution. Fees do not apply to bank accounts linked through Plaid.

ACH credit transfers between your Account and a linked bank account with another institution

$0

You may transfer funds between your Account and another bank account held in your name. The linked bank account must be located in the United States.

Inbound domestic wire

1% per transaction

Out-of-network ATM transaction fee

$0

You may be charged a fee, including for balance inquiries, by the operator of an out-of-network ATM.

You can avoid fees by using an in-network ATM. You can identify an in-network ATM by looking for the Allpoint logo on or near the ATM.

6. Is there a free option for transferring?

There are no fees for transferring money from a linked bank account into your payments account with Wethos. It’s also free to transfer money out of your payments account with Wethos to a linked bank account. You can link accounts from the Linked Accounts tab.

7. How does Wethos handle overdrafts, insufficient funds, and negative balances?

We do not permit you to overdraw your account. If the available balance in your account is not sufficient to cover any transaction you have authorized, we may return the transaction or refuse to process the transaction. However, there may be instances where your account can still go into the negative, such as if a deposit you make is returned.

You must make a deposit immediately to cover any negative balance. If your account has a negative balance for 60 calendar days or more, we may close your account. Please contact [email protected] for any further clarification.

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Deposits & Withdrawals

1. What types of electronic fund transfers (EFTs) does Wethos support?

2. How can I deposit or transfer money into my payments account?

3. Can I deposit checks into my Wethos Payments Account?

4. How can I withdraw or transfer money out of my Wethos Payments Account?

5. When will my deposit be available in my payments account?

1. What types of electronic fund transfers (EFTs) does Wethos support?

Your account supports the following types of electronic transfers:

  • Direct deposits from your employer or another source of income

  • Transfers to or from your payments account to or from a linked bank account

  • Transfers to or from your payments account to a merchant or other third party by providing the third party with your account routing number and account number

  • Business purchases or transactions using your physical or virtual debit cards

  • ATM withdrawals using your debit card or ATM card

Contact us by email at [email protected] with questions concerning EFTs that occur on your account or use the number on the back of your Wethos Card to contact Visa for any questions about your debit card.

2. How can I deposit or transfer money into my payments account?

You can deposit and transfer money into your payments account by going to the Transfer page within “Bank Account” and clicking the “transfer” button at the top right. Note that you must set up a linked account before transferring money.

You may make deposits into your account using any of the methods described below. We do not charge you any fees for making deposits.

  • ACH (may include direct deposits)
    *The recipient’s name on any direct deposit or ACH transfer must match the name on the Account or the deposit may be returned to the originator.

  • ACH transfers to your Account from a linked bank account with another institution
    *You may transfer funds between your payments account and another bank account. The linked bank accounts must be located in the United States.

  • Internal transfers between eligible accounts managed by Wethos

  • Domestic wire (deposit only). We are working on the ability to send domestic wires in the near future.

  • Any eligible, US-based Allpoint ATMs accept cash deposits up to $1,000 per transaction, $2,000 per day. They do not accept checks, envelopes, or non-US dollars.

    *You can identify an in-network ATM by looking for the Allpoint logo on or near the ATM. You cannot make cash deposits at out-of-network ATMs.

Keep in mind that you can only deposit funds that are immediately available.

For more information about deposits and when funds from a deposit will be made available to you, please refer to Section 3.2 of our Business Deposit Agreement.

3. Can I deposit checks into my Wethos Payments Account?

We do not accept deposits by mail, cash, paper check. or foreign currency deposits. We are not liable for deposits of any kind that you mail to us, including if it is lost in transit, lost in the mail, or otherwise not received by us.

Please make a deposit via ACH wire transfer or internal bank transfers between a linked account.

4. How can I withdraw or transfer money out of my Wethos Payments Account?

You may withdraw funds up to the amount of your available balance in your account using any of the following methods:

  • Internal transfers between eligible accounts managed by Wethos (No limitations)

  • ACH transfer to a merchant or other third party you authorize to withdraw from your Account using your routing number and account number (No limitations)

  • ACH transfers from your payments account to a linked bank account at another institution (Limitation: $15,000/Day)

*You may transfer funds between your payments account and another bank account. The linked bank account must be located in the United States.

You cannot withdraw funds by check, and we do not permit you to create checks drawn on your Account.

Before permitting a withdrawal or other transaction, we may request that you provide us with additional information or documentation that we deem necessary to confirm your identity or to prevent illegal activity. We may refuse the transaction if you do not comply with our request.

Steps to withdraw money:

  1. Go to Bank Account and click on the Transactions page.

  2. Click on the “transfer” button in the top right. Note that you must have a linked account on Wethos to withdraw funds. If you do not have a linked account, visit this article to learn how to connect a linked account.

  3. Under “Transfer Type” choose “withdrawal”

  4. Designate the account you want to transfer to/from.

  5. The screen will show the available balance that you have to transfer. Write the amount that you’d like to transfer in “Transfer Amount”

  6. Click “deposit” and review the summary on the following page.

  7. Click “agree” if everything looks good.

  8. You’ll get a confirmation summary that states how long it’ll take for the funds to be withdrawn.

5. When will my deposit be available in my payments account?

It is our policy to make deposits made to your Account each business day available for withdrawal according to the table below.

The end of the business day is referred to as the "deposit cut-off time". If you make a deposit before our cut-off time on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after our cut-off time or on a day we are not open, we will consider the deposit to be made on the next business day that we are open.

If you make a deposit via…

The cut-off time is…

And those funds are available…

Internal transfer between two accounts you have with us

N/A

Immediately

Direct deposit

3:00 PM ET

Same business day

Domestic wire

3:00 PM ET

Same business day

Cash deposit at in-network ATM

3:00 PM ET

Next business day

For deposits or transfers into your payments account with Wethos, we will debit your linked bank account and credit your account with us on the next business day after you initiate the transfer. The funds you transfer to your account will be made available to you on the fifth (5th) business day after the funds have been credited to your Account.

For withdrawals or transfers out of your payments account with Wethos, we will debit your account with us and credit your linked bank account on the next business day after you initiate the transfer. The financial institution that holds your linked bank account determines when those funds will be made available to you in your linked bank account.

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Invoicing

1. Does my teammate have to invoice me for work they do on my scope?

The Wethos platform doesn’t require you to invoice a teammate or to be invoiced in order to send or receive money. This process may depend on your current workflow and we encourage you to use other means to invoice a teammate/be invoiced if this is important for your business.

We are considering the best way to support this flow in our platform, so stay tuned!

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Client Payments

1. How can I request payment from clients?

2. What payment methods can my client use to pay my invoice?

3. How can I schedule an invoice?

4. What does my client see when I send an invoice?

1. How can I request payment from clients?

You can request payment from your client by creating and sending an invoice.

Steps to send an invoice:

  1. On your project page, click on “Pay”

  2. Choose the option to “invoice client”

  3. Customize your invoice by adding your client contacts, billing address, and tax ID.

  4. Include your sender details and the due date for payment of this invoice.

  5. Add items to your invoice by creating custom line items or choosing from your “Project Items” in the window on the right side.

  6. Review your subtotal and add any taxes, if necessary.

  7. Optionally, write in a note that will appear in the body of the invoice.

  8. You can further customize your invoice email by adding the subject line and body text in the email section.

  9. Don’t forget to preview your invoice by pressing the “preview” button in the top right.

  10. When your invoice is ready to send, click “send” in the top right.

2. What payment methods can my client use to pay my invoice?

We make it very easy for your clients to pay an invoice. They can 1) set up an ACH transfer from their own online bank using the money account information provided on the invoice, or 2) authorize a wire transfer from their account.

Keep in mind that a 1% fee applies to the total amount transferred from your client.

3. How can I schedule an invoice?

We do not yet offer scheduling but we plan to build this automation later in the year. Hold tight!

4. What does my client see when I send an invoice?

The client will see...

  • Your brand and logo

  • Invoice #

  • Who the invoice is sent to / who the invoice is from

  • Tax ID

  • The due date and issue date

  • The fee summary

You can see a preview of that email while you’re creating the invoice and can choose to remove details like the description, quantity, and/or price.

You can also send a test email to yourself to preview everything before officially sending it to your client.

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Team Payouts

1. How do teammates actually get paid?

2. Can I pay out/get paid internationally?

3. Does my teammate need a Wethos Payments Account to be paid out / receive transactions?

4. What happens if I don’t have enough money to pay out my team?

5. What does my teammate see when I pay them?

1. How do teammates actually get paid?

Teammates will need to set up a payments account with Wethos to get paid. We include more information about how to get set up during their onboarding process.

2. Can I pay out/get paid internationally?

Teammates can’t pay out internationally yet as our system only supports US dollars right now. We’re planning to expand to non-US currency in the upcoming roadmap, so stay tuned!

3. Does my teammate need a Wethos Payments Account to be paid out / receive transactions?

Yes, your teammate needs to set up their own payments account with Wethos to get paid or receive payment via Wethos. We include steps for them to get started during their onboarding process.

4. What happens if I don’t have enough money to pay out my team?

If you don’t have enough money in your payments account to pay your team, you can transfer money into your account through a linked account to ensure you have a sufficient available balance.

5. What does my teammate see when I pay them?

Your teammate will see a transaction receipt with the following:

  • Pay date

  • Amount paid

  • Payout line items

  • Project title

  • Download receipt

To view receipts of the transactions you’ve sent, visit your Bank Account page and click on the 3 dots on the far right of the transaction you want to view. Click “view transaction receipt.”

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