How do I switch from WePay to Stripe?

• Important Details
• Next Steps
  • Connected Stripe Users
  • New to Stripe Users
• Manage Your WePay Account
• FAQs

About Stripe

• Accept Apple Pay and Google Pay
• AMEX fees lowered from 3.5% + $0.30 to 2.9% + $0.30 per transaction
• Faster bank transfer (ACH) processing times
• A more robust merchant dashboard
• For Canadian businesses, accept payments in multiple currencies and connect multiple bank accounts for settlements

Important Details

• All saved bank transfers (ACH) and credit cards entered by you with Advanced Payments or by your clients via Recurring Payments before your specified transfer date on your email communications will be transferred over to Stripe
  • Expired credit card data will not be transferred even though WePay may have successfully charged these cards in the past, transferring to a new Stripe account will result in these expired credit cards being denied
• After your information has been transferred over to Stripe, clients’ experiences with paying invoices will be the same with Stripe
  • Clients will need to re-enter payment on invoices if using:
    • Expired cards
    • New saved bank transfers (ACH) and credit cards added after the specified transfer date on your email communications
• Your WePay account will be closed on January 10, 2025 after all payments have been settled, review Manage Your WePay Account below for more details
• When switching from WePay to Stripe, your initial payment may be held for approximately 7 days within Stripe

Next Steps

Connected Stripe Users

1. Log into your FreshBooks account
2. Go to the Dashboard
3. Select the Switch to Stripe button
   
   
4. During the migration process, your invoices will be updated automatically to remove WePay as the payment option for online payments and replaced with Stripe instead
   1. Any paid invoices will not be impacted
   2. Any invoices currently in processing status through WePay will be left alone to allow payments to finish
   3. Invoices with saved credit card information through WePay will be updated to be saved through Stripe instead
5. The process of updating invoices can take up to a minute - during this time, you can keep using your account while staying logged in, this will not disrupt the update process
6. Once the updates are finished, a pop-up will display informing you that Stripe is now your default payment option and that WePay has been removed from your FreshBooks account. In the meantime, you can manage your WePay account outside of FreshBooks using the WePay dashboard.

New to Stripe Users

1. From your email, or inside your FreshBooks account, follow the pop-up to begin setting up your Stripe account
2. In the new window, your Email will be pre-populated from your FreshBooks account, select Next
   
   
3. If you have an existing Stripe account, enter your Password to log into it
   1. Then choose the account you'd like to connect to FreshBooks and select Connect
   2. Or select Create a new account instead to make a new Stripe account
4. Otherwise, create a new Password to set up a new Stripe account and select Next
   1. Enter a Phone Number, then select Send text
      1. Or if needed, select the authenticator app link to use an authenticator app 
      2. Or if needed, select the security key text to use a security key
   2. Then enter the Code from your device or authenticator app, or use the security key
   3. Next, save your emergency backup code by selecting Download code or Copy Code and store it somewhere safe
   4. Select Next
5. Choose your Business Location and Type of Business, then select Continue
6. For personal details, enter your First Name and Last Name as specified on your government-issued ID or with government agencies like the IRS
   1. Then enter your Email Address, Date of Birth, Home Address, Phone Number
   2. For US-based businesses, enter the Last 4 Digits of Social Security Number
   3. Then select Continue
7. For business details, if available, enter a Tax Number
   1. Then enter a Website that shows your business' online presence, like an online store or social media account
      1. If you don’t have an eligible website that can be submitted, contact Stripe
   2. Next, include a Product Description of what products or services your business sells
   3. Select Continue
      
8. For your bank information, either login to your bank account online and choose an account, or enter your bank account's details manually and select Continue 
9. For your public details, specify a Statement Descriptor and Shortened Descriptor that will appear on your clients' statements
   1. Next, review or enter a Customer Support Number, and if available, a Customer Support Address
   2. Then select Continue
10. In the review section, ensure your information is correct, then select Agree and Submit. You'll be taken back to FreshBooks, and Stripe will review your submission. Stripe will notify you by email if your application review is approved or if additional documentation is required. 

Invoice Migration Process

1. Once your Stripe account is created and connected, your invoices will be updated automatically to remove WePay as the payment option for online payments and replaced with Stripe instead
   1. Any paid invoices will not be impacted
   2. Any invoices currently in processing status through WePay will be left alone to allow payments to finish
2. The process of updating invoices can take up to a minute - during this time, you can keep using your account while staying logged in, this will not disrupt the update process
3. Once the updates are finished, a pop-up will display informing you that Stripe is now your default payment option and that WePay has been removed from your FreshBooks account. 
4. In the meantime, you can manage your WePay account outside of FreshBooks using the WePay dashboard.

Manage Your WePay Account

1. Log into your WePay account 
2. While on the Account Activity tab, in the Activity section, select the dropdown next to Showing
   
   
3. Choose Total Sales, All Activity, or Deposited Amount
4. If needed, select Search Options button
   1. Then select the Please select a date range dropdown and choose between Today, Yesterday, Last 7 Days, Month to Date, or Custom
   2. Select Search
5. Above the list of results in the top right corner, select the down arrow and a CSV file will begin downloading. 
   
   

• All processing payments have been marked as paid
• All payments in transit have been settled into your bank account
• There are no refunds in progress or all refunds have been completed
• There are no open chargebacks or all open chargeback disputes have been resolved

FAQs