The questions featured in this article:

  1. Is my payments account FDIC-insured?

  2. How do you protect my data?

  3. What do I do if my card was lost or stolen?

  4. How can I improve my account security?

  5. Can I apply for a card using an EIN instead of an SSN?


1. Is my payments account FDIC-insured?

Your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 through Blue Ridge Bank N.A.; Member FDIC.

2. How do you protect my data?

Your data security and privacy are Wethos’ top priorities. Some things we do to ensure your account safety include:

  • Requiring HTTPS on all pages, and use HSTS to ensure browsers only ever connect to us over a secure connection.

  • Employing a third party to perform penetration testing each year to check for vulnerabilities.

  • Storing encrypted passwords. We never store or log your plaintext password.

  • Using Time-based One Time Passwords for two-factor authentication.

  • Encrypting our database and all uploaded images.

  • Never storing sensitive financial information, such as your SSN or your debit card number.

3. What do I do if my card was lost or stolen?

Freeze your card immediately in your Wethos Payments Account if you believe your card has been lost or stolen.

You can request a new card by reaching out to us at [email protected]. Cards are shipped via USPS with expected delivery within 6 - 8 days after the card is ordered. You can expedite the shipment via Fedex for an additional fee with the options for Priority Overnight, Standard Overnight, and Two-day shipping.

4. How can I improve my account security?

We strive to keep your account secure and provide you with tools and services to help you manage your account safely. However, there are certain things you can do to improve your account security:

  • Notify Us If Your Information Changes

You must notify us immediately if there is a change to your business or trade name, SIN/EIN, or beneficial owners so that we can continue to provide you with statements and important notices concerning your account. You are able to make changes directly in your account at teams.wethos.co to adjust your name on the account, telephone number, mailing address, email address or any other information you have provided us on the platform.

  • Keep Track of Your Transactions and Available Balance

It is very important that you keep track of your transactions and the funds in your account that are available for you to use, aka your “available balance,” by reviewing your transaction history. It is also important to understand that your available balance may not reflect transactions you have authorized that have not yet been presented to us for payment.

You are also responsible for reviewing your account statements as they are made available to you for errors or unauthorized activity. If you identify an error or unauthorized activity in your payments account or debit card with Wethos, you must notify us at [email protected] promptly to avoid any losses. For any debit card-related errors or unauthorized activity, please freeze your card at teams.wethos.co and contact VISA directly at the phone number listed on the back of your card.

  • Protect Your Account Information

It is very important that you protect your account information to prevent unauthorized transactions and fraud. Keep your account number, debit card, and statements secure at all times, and be careful about who you share this information with. Make sure to also keep your computer or mobile device secure at all times and avoid accessing your Wethos banking features when others can see your screen.

If your account number, debit card, ATM card, mobile device, or Wethos login credentials are lost or stolen, notify us immediately at [email protected] to keep your losses to a minimum. If your debit card or ATM card is lost or stolen, immediately freeze your account within the Wethos platform at teams.wethos.co and notify us at [email protected] to take any further action.

You can find more information about account security in our Business Deposit Agreement.

  • Visa Secure Online Shopping

You can further protect your online Card purchases with Visa Secure (formerly Verified by Visa). This free, simple-to-use service provided by Visa validates your identity when you make an online purchase at participating merchants. Participating online merchants will automatically trigger the Visa Secure identity verification process when you check out. There is no need to download anything or install any software, and there is no service charge for this benefit. Your Card will continue to work as usual for online purchases at merchants not yet participating in Visa Secure. You can contact Visa at 1-866-673-6574 for assistance with any issues you have with Visa Secure purchases.

5. Can I apply for a card using an EIN instead of an SSN?

Just like with any other business payments account, we'll continue to need your SSN, even if you incorporate your business. This SSN and your identity tie you to the account as an authorized administrator of billing and payments.

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