Payments processed by FreshBooks Payments Powered by WePay can take an average of 1-3 business days to process before sending to your bank account (your first transaction and any manually reviewed payment takes approximately 5-7 business days to complete instead). The breakdown of those days for all credit card and ACH payments are as follows:
- The payment is processed by WePay instantly, then:
- If approved, the payment is deposited into your WePay account
- If not approved, the Processing status remains on your Invoice while the payment is in manual review by WePay's Trust & Safety team (especially if it's your first transaction or an unusually larger transaction), which takes an extra 1-3 business days (see section 12 here), then:
![Processing banner above an Invoice.]()
- If manually approved, the payment is deposited into your WePay account
- If not manually approved, the Invoice is updated to reflect a Declined status
- Once funds are in your WePay account, any available amount is sent to your bank account as a payout (dependent on your payout frequency). This takes an extra 1-3 days, depending on which Bank/Financial Institution you're with.
If the payment immediately declines, have your Client try again and ensure all payment details are entered correctly and their web browser is up to date.
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.