**IMPORTANT NOTICE: On May 14th, 2024 all Wethos Payments Accounts will be closed as we are transitioning to a new form of payment acceptance for your invoices. Once closed features such as debit cards, account statements, account transfers, and account and routing numbers will no longer be available. On May 14th, the Payments Tab will also no longer be available. Please download your account statements or CSVs before this date and make any withdrawals of the funds in your account. If there are any funds left in the account, they will be mailed to you within 30-60 days of account closure. You can learn more about this in our featured Help Center article HERE.
What is a Wethos Payment Account?
A Wethos Payment Account is the best way to have your cash flow all in one place, so you can stop switching tabs and start gaining real-time insights on your business’s profitability and earnings - all while keeping the cost of running your business low.
The Payments Account is free to open, has no minimum deposit required, and no minimum balance needed to maintain your account.
Other than a huge sigh of relief that your business transactions and expenses are organized, your payments account also includes:
One business checking account (FDIC-insured, with zero maintenance fees. Woohoo!)
One sleek virtual Wethos Visa debit card, and the option to get a physical debit card
Free ACH transfer deposits or withdrawals from linked bank accounts
No fees from Wethos for ATM withdrawals or from any eligible, US-based Allpoint ATM location.
Monthly bank statements and CSV exports
An integration with Stripe for credit/debit card payments, US or International, for invoices
To get started, you’ll complete a short form so the bank can process your information to set up the account. No more long lines at the bank or filling out endless paperwork - our process should take less than 5 minutes to complete.
Once approved, with a Wethos Payments Account, you can seamlessly and efficiently streamline your cash flow, get paid, and send payments to teammates.
What’s included with my Wethos Payments Account?
One business checking account (FDIC-insured, with zero maintenance fees. Woohoo!).
ACH/Bank Transfer Payments (powered by Plaid) - 1.5% payment processing fee for Wethos Starter 🌱 users and 1% payment processing fee for Wethos Pro ⚡️users.
Card Payments (powered by Stripe) - 2.9% + $0.30 processing fee
One sleek virtual Wethos Visa debit card and the option to get a physical debit card.
Free ACH transfers to linked bank accounts
No fees from Wethos for ATM withdrawals
Monthly bank statements
Free, instantaneous peer-to-peer payments to teammates
Once approved for a Wethos Payments Account you will receive your account number and a routing number.
Getting your invoice paid
Once approved for a Wethos Payments Account, you can get your invoices paid with ACH debit payments, which are also commonly known as Direct Debit or eCheck payments, or get paid via credit or debit card to make your payments streamlined and simple. We’ve integrated with Stripe to power the ability to accept card payments and have embedded the option to pay with a card directly into your invoices.
Here are all the ways you can get paid with your Wethos Payments Account:
You will always have the option to get your invoices paid outside of Wethos and mark those invoices as paid manually. Simply include the steps for your clients to pay you on the notes section of your invoice.
We understand that you can’t always control how your client pays you, which is why your Payments Account gives you flexibility in how to receive payments. All you need to do is send your client an invoice and let them do the rest!
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Still have questions? We're happy to help!
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