How do I accept online payments with FreshBooks Payments powered by Stripe?

WePay recently announced that it will be gradually shutting down online payment operations. As of June 26, 2024, you will no longer be able to process online payments through WePay. To ensure no disruption to your online payments during this time, FreshBooks Payments powered by Stripe will become the new online payment processor for all saved bank transfers (ACH) and credit card data currently stored with WePay.
FreshBooks is working closely with WePay and Stripe to securely migrate all saved credit card data from WePay to Stripe over the next several months.
 
FreshBooks Payments powered by Stripe is only available for certain users for now. Our product team is working on updates to make FreshBooks Payments available to users in Canada and the US in the near future.
 
 

FreshBooks Payments Details

 

Important Details

Before WePay is disconnected from your FreshBooks account, you’ll receive an email between March - May 2024 with specific instructions including the following:
  • 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 FreshBooks Payments
    • Expired credit card data will not be transferred even though WePay may have successfully charged these cards in the past, transferring to a new FreshBooks Payments account will result in these expired credit cards being denied
    • Any saved bank transfer data with WePay will be manually transferred to FreshBooks Payments a week after your account is verified, clients can continue to update their bank transfer details during this time
    • Any recurring templates with saved payment information that are not transferred will continue to charge through WePay, a final catch-up to transfer these payment methods to FreshBooks Payments will be done before your final disconnection date
  • After your information has been transferred over to FreshBooks Payments, clients’ experiences with paying invoices will be the same with FreshBooks Payments
    • 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

Bank Transfers and Credit Card Data Security
The migration of tokenized bank transfers (ACH) and credit card data from WePay to FreshBooks Payments is handled by WePay and Stripe directly with the highest levels of PCI Compliance.
 

WePay Migration Users

Next Steps

Between March through May 2024, you’ll receive email communications with specific details on what you need to do next. When you receive your email communications, use the below video and steps to migrate your account from WePay to FreshBooks Payments powered by Stripe:

 
  1. In the email you’ve received, select the I’m Ready to Migrate Now button to start the process, or log into your FreshBooks account
  2. Go to the Dashboard
  3. Select the Switch Now button
    Banner with switch now button.
  4. Enter in an Email and a new Password for your new FreshBooks Payments account, then 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 Type of Business, then select Continue
    Type of business section with dropdown to choose type.
  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 or CRA
    1. Then enter your Email Address, Job Title, Date of Birth, Home Address, and Phone Number
    2. For US-based businesses, enter the Last 4 Digits of your Social Security Number
    3. Then select Continue
  7. For business details, if available, enter a Tax Number
    1. Next, choose an Industry
      Business details section with fields to fill out.
    2. 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
    3. Next, include a Product Description of what products or services your business sells
    4. 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
    Public details section with preview of statement descriptors.
    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. FreshBooks and Stripe will review your submission and notify you by email if your application review is approved or if additional documentation is required.
 
To confirm the status of your FreshBooks Payments account for online payments and payouts, review How do I manage my FreshBooks Payments account?.
 

Additional Information Required

Sometimes FreshBooks Payments may require additional information to verify your account. To submit additional information, use the below steps:
  1. On the Dashboard, in the banner, select the Submit Information button
    Banner with submit information button.
  2. Follow the instructions to submit the information required and select Confirm to finish.
 

Invoice Migration Process

Once your FreshBooks Payments account’s status for Online Payments is set to active, the following will occur:
  1. During the migration process, your invoices will be updated automatically to remove WePay as the payment option for online payments and replaced with FreshBooks Payments 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 bank transfers and credit card information through WePay will be updated to be saved through FreshBooks Payments instead
    4. Any saved bank transfer data with WePay will be manually transferred to FreshBooks Payments a week after your account is verified, clients can continue to update their bank transfer details during this time
    5. Any recurring templates with saved payment information that are not transferred will continue to charge through WePay, a final catch-up to transfer these payment methods to FreshBooks Payments will be done before your final disconnection date
  2. The process of updating invoices can take up to several minutes - 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 FreshBooks Payments is now your default payment option and that WePay has been disconnected and removed from your FreshBooks account. In the meantime, you can manage your WePay account outside of FreshBooks using the WePay dashboard.
 
Notes:
 

Manage Your WePay Account

Moving forward, you can access your WePay account anytime by logging into your WePay dashboard directly. Your WePay account will remain active until January 10, 2025 to support deposits to your bank account, refunds, and chargebacks. Log into your WePay account anytime at WePay’s login here.
 
WePay Reports for Transactions
If needed, you can download reports from your WePay dashboard for your records, including your payment history. You can use the below steps to download a specific CSV file of all activity or a specific type:
  1. Log into your WePay account 
  2. While on the Account Activity tab, in the Activity section, select the dropdown next to Showing
    Dropdown to filter transactions by inside WePay account on Account Activity section.
  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. 
    Download button in top corner of list of transactions to download file.
 
Close your WePay Account
Before you can close your WePay account, ensure that there is no more activity in your WePay account by checking for the following:
 
When your WePay account is ready to be closed, use the steps in How do I delete my WePay account?. Otherwise, WePay will automatically terminate your account for you on January 10, 2025.
 

New to FreshBooks Payments Users

FreshBooks Payments powered by Stripe is only available for certain users for now. Our product team is working on updates to make FreshBooks Payments available to users in Canada and the US in the near future.
 
Before you set up FreshBooks Payments, make sure you have the following information ready:
  • Business background and contact details - Industry, job title, business website or social media
  • Business controller and owner details - Address, phone number, date of birth, last 4 digits of Social Security Number (SSN) or Social Insurance Number (SIN)
  • Bank account details
    • Canadian businesses - Institution number, transit number, account number
    • US businesses - Your online banking’s login information
 
Set up your FreshBooks Payments account in your Online Payments settings with the below steps:
  1. Ensure you have a country selected in your Basic Information settings first
  2. Go directly to Online Payments here, or select the Settings section
  3. Under Connections and Integrations, select Online Payments
  4. Next, select Get Started with Online Payments
    FreshBooks Payments with get started button to begin setup.

  5. The email address associated with your FreshBooks account will be pre-populated, enter in a new Password for your new FreshBooks Payments powered by 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
  6. Choose your Type of Business, then select Continue
    Type of business section with dropdown to choose type.
  7. For personal details, enter your First Name and Last Name as specified on your government-issued ID or with government agencies like the IRS or CRA
    1. Then enter your Email Address, Job Title, Date of Birth, Home Address, and Phone Number
    2. For US-based businesses, enter the Last 4 Digits of your Social Security Number
    3. Then select Continue
  8. For business details, if available, enter a Tax Number
    1. Next, choose an Industry
      Business details section with fields to fill out.
    2. 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
    3. Next, include a Product Description of what products or services your business sells
    4. Select Continue
  9. 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
  10. For your public details, specify a Statement Descriptor and Shortened Descriptor that will appear on your clients' statements
    Public details section with preview of statement descriptors.
    1. Next, review or enter a Customer Support Number, and if available, a Customer Support Address
    2. Then select Continue
  11. In the review section, ensure your information is correct, then select Agree and Submit. You'll be taken back to FreshBooks.
FreshBooks will review your submission and notify you by email if your application review is approved or if additional documentation is required. 
 
Notes:
  • Once your FreshBooks Payments powered by Stripe account has been set up, review How do I manage my FreshBooks Payments account? for information on your account’s status, payouts, disputes, and more
  • Once your FreshBooks Payments account’s Online Payments status is set to active, you can begin accepting payments on your invoices, recurring templates, and more
  • Your Payouts status must be set to active to receive the payments in your connected bank account
 

Activate FreshBooks Payments on Invoices

Once your FreshBooks Payments account is active, you can begin accepting payments with FreshBooks Payments using the below steps:
  1. When creating an invoice, under Settings, select the Accept Online Payments option
    Accept credit cards button.
  2. Check off the box(es) next to Accept Credit Cards and/or Accept ACH Bank Transfer (available for US businesses and clients only). If both are checked off, your clients can pay by either credit card or bank transfer on this invoice. If only one is checked off, your clients can only pay by the selected option
    Checkboxes next to Accept Credit Cards and Accept ACH Bank Transfers on invoice.
  3. If you want your clients to be able to pay the invoice partially (even with bank transfers or payment schedules activated as well), check off Allow Clients to make partial online payments for this Invoice
    Checkbox to enable partial payments.
  4. Select Done to finish applying the payment settings and continue editing the rest of your invoice.
 

FAQs

Which email address will the email communications be sent to?
Email communications on when your information will be transferred over to Stripe will be sent to the owner’s email listed in the Account Profile in the FreshBooks account.
Email communications will be sent from info@emailfb.freshbooks.com between January - May 2024.
 
Need help or have more questions? Reach out to our Support team directly.