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      How long does FreshBooks Payments (WePay) take to process payments?

      Payments processed by FreshBooks Payments Powered by WePay can take an average of 1-3 business days to settle. The breakdown of those days are as follows:

      1. WePay will process the transaction instantly and deposit it in your WePay account. For transactions that have not been approved instantly, they will go to to manual review (Processing) or Declined
      2. If the transaction is in manual review, this will show as Processing on your FreshBooks Invoice and will take an extra 1-2 business days to finishProcessing banner above an Invoice.
      3. Once approved, it takes 1-3 days for both credit card and ACH payments to appear in your bank account depending on the account you're depositing your funds to.
      If this is your first, or an unusually larger deposit, this can take an extra 1-2 business days for WePay’s Trust and Safety team to review. Once cleared, the deposit will follow the schedule as outlined below.

       

      Chase Bank Accounts

      If your WePay account is connected to a Chase Bank Account:

      • All transactions received and approved up to 5 pm PST will be in your bank account that night (e.g., approved by Monday at 5 pm PST will appear in your account the same day on Monday night)
      • Any transactions accepted and approved after the 5 pm PST cutoff time will be included in the next day’s deposit instead

       

      Other Bank Accounts

      If your WePay account is connected to a non-Chase Bank Account:

      • All transactions received and approved up to 5 pm PST will be deposited into your bank account the following day (e.g., approved by Monday at 5 pm PST will appear in your account on Tuesday, the following day)
      • Depending on your bank institution, that account’s financial institution will complete the transaction according to its standard processing times. This may take between 1-3 days based on the financial institution, and will not deposit on weekends or holidays
      • Transactions that are accepted and approved on weekends (Saturday and Sunday) and holidays will be deposited on the next available business day (Monday for weekend deposits, or if Monday is a holiday, Tuesday instead)
      • Any transactions accepted and approved after the 5 pm PST cutoff time will be included in the next day’s deposit instead

       

      FAQs

      Where can I see if a payment has been sent to my WePay account or to my bank?

      You can track your payment details inside your FreshBooks account with the Payments in Transit widget here, or in the list of All Transactions here.

      Payments can be tracked with the payment ID (an unique set of numbers that identifies a particular transaction) inside your WePay dashboard.

       

      Where can I find reports on my transactions and settlements to reconcile? 

      You can download either of these two reports directly from your WePay dashboard under the Reporting tab. Click on the Download CSV button in either of these Reports to download them:

      • Payments Report – This shows all transactions that enters or exits your WePay account (payments, refunds, credits).  This also includes all transaction fees if you want to see the total fees processed in any given period.
      • Settlements Report – This report lists all transactions that are grouped together in each settlement. These settlements also include information on when the total settlement amount was sent to your bank.

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