When can I start processing payments?
Once you have completed your Merchant Account Setup form, the application is sent to WePay to begin the underwriting process. The merchant account setup takes as little as 1 business day to set up.
Once your account is approved, you will receive an email notification from email@example.com. You will be able to begin processing payments at any time.
What are my processing rates?
Upon joining Regpack, your sales representative will quote and confirm your credit card and electronic check processing rates. To receive confirmation of these rates, please email firstname.lastname@example.org. Your rates are also listed in the Terms and Conditions in your Regpack account.
When will I receive the deposits from my sales?
When completing your Merchant Account Setup form, you are given the option to receive your funds on a Daily, Weekly or Monthly payout schedule. The option you select will be the frequency in which you will receive the deposits for your sales.
- Daily – Funds processed on one day are deposited on the next business day. Once your settlement is initiated, US merchants depositing into a Chase bank account will have Same-Day access to their funds. Settlements to other bank accounts should be processed in 1-3 business days, depending on your bank’s ability to process Next-Day Deposits
- Weekly – Funds from the previous week are sent every Monday
- Monthly – With Monthly payout, you will receive your deposits on the 1st of the month, for the previous months billing cycle.
How can I pull the payout reports to reconcile my sales deposits?
To download payment reports in Wepay, please login to Wepay here: https://www.wepay.com/login
If you don’t have access to your WePay account, you can request this from the payments team by emailing email@example.com.
Once in the Wepay console, go to Reporting > Payments > Download CSV for the deposit you are wanting to view.
Column R under payment_description will show you the field which you set as your soft descriptor.
I just opened registration and all my payments are pending?
Payments can be pending because they are in a normal state of review. Sometimes, Wepay reviews transactions when accounts are first onboarded to protect them from anything malicious or fraudulent.
Reviews typically take 1-2 business days to complete and once completed the funds will appear in your WePay account marked as approved.
Reviews are completely normal and all accounts have reviews done to funds coming in and going out. While it does delay the funds a bit, it’s not indicative of a problem.
Why is my applicant’s e-check still pending?
Because these are eCheck payments, it is most likely that the shopper did not confirm their bank account with Wepay. When a shopper opts to use their bank account as a payment method, two micro deposits will be sent to their account; each under $.25.
The deposits should be posted to the shopper’s bank account within 2-5 business days. The shopper will need to check their bank account for the amounts that were posted. To confirm their payment, they will need to follow a link that is provided in the reminder emails and enter the two amounts they received. From there, the payment will move from a ‘pending’ state to ‘started’. Within a business day or two, the payment will be processed.