**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.
At Wethos, we want to ensure that you have all the necessary information about the limits and fees associated with your Wethos Payments account. Depending on the type of transaction you are attempting to make, there are different fees and limits in place.
We have outlined any fees associated with your account and any limits below to help you choose the option that best fits your business needs.
Fee Description | Fee Amount and Frequency | Limits | Additional Details |
ACH Client invoice payments via ACH Origination Service | Pro Tier: 1% per transaction |
| These fees & limits are applicable to invoice payments submitted by your client using the embedded ACH payment |
ACH Deposits and Withdrawals via ACH Origination Service | $0.00 |
| You may transfer funds (both deposits and withdrawals) from your Wethos Payments Account to another linked bank account held in your name for free |
Direct deposit and Deposits and Withdrawals via Received ACH Service | 1% per transaction $0.00 |
| All direct deposits into your Wethos Payments Account and all deposits and withdrawals made via Received ACH are fee-free. It is important to note that the recipient’s name on any direct deposit or ACH transfer to your account must match the name in the account or the deposit may be returned to the originator.
|
Payments via debit or credit cards | 2.9% + $0.30 per transaction |
| Any invoice payment submitted by your client using the embedded card payment flow will incur a 2.9% + $0.30 processing fee per transaction |
Inbound domestic wire | 1% per transaction |
| Any incoming wire transfer to your Wethos Payments Account will incur a 1% processing fee. Please note that currently Wethos does not support wire transfers out of your Wethos Payments Account |
ATM transaction fee | $0 for in-network ATM Out-of-network ATM fees are determined by the ATM provider |
| 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. |
Peer-to-peer payments to other Wethos Payments Accounts/Paying teammates | $0 |
| Wethos gives you the option to send unlimited payments to your teammates who also have a Wethos Payments Account. Sending payments to teammates are fee-free |
POS transactions and other transactions at merchants using your Wethos debit card
| $0 |
| POS transactions, or Point of Sale transactions, refer to purchases made at a merchant's location using a debit card. When you make a POS transaction, your debit card is swiped, inserted, or tapped on a card reader at the merchant's checkout counter. Using your Wethos debit card for purchase transactions is fee-free |
We do not accept cash deposits by mail, 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.
Cash: We do not accept cash deposits made by mail. If you mail us a cash deposit, we will send the cash back to you.
Paper Checks: If you mail a paper check to us, including personal or business checks, money orders or cashier’s checks, we may apply the check to any negative balance you have on your Account or send the check back to you.
Foreign Currency: We do not accept any deposits in foreign currency. Any deposits received in foreign currency, whether in the form of cash or check, will be sent back to you.
Still have questions? We're happy to help!
Contact us at [email protected].