We've designed this feature to give you faster access to your revenue from trusted merchants, helping you improve your cash flow and grow your business.
Early Payment Access allows you to receive the funds from specific transactions days earlier than the standard payout schedule from your payment processor (e.g., Shopify, Stripe). Instead of waiting for the money to settle, you can get it now.
How do I get Early Payment Access?
You don't need to apply. We proactively monitor your incoming transactions, and if a payment from a trusted merchant is eligible for early access, we will automatically send you an "Early Access Offer." You can then review the terms and decide if you want to accept it.
What are the eligibility requirements for Early Payment Access?
Eligibility for offers requires two things: your account must be in good standing (meaning no ongoing payment disputes or outstanding collections), and you must have qualifying transactions from our trusted merchants entering your account.
What transactions qualify for Early Payment Access?
Eligibility is assessed on a per-transaction basis. Our system primarily looks for payments from established and trusted merchants and processors (like Shopify and Stripe) up to a maximum value of $30,000. This means that not all transactions will qualify for an offer, but we are continuously working to expand our coverage.
Where can I see the status of any Early Access Payments?
You will be able to track everything in your Wayflyer transactions dashboard. This will include all offers, the payments you've received early, and a clear breakdown of any associated fees.
Getting Your Funds
How quickly will I receive my funds?
Once you have reviewed and accepted an Early Access Offer, the funds will be disbursed directly into your Wayflyer banking account, typically within a few minutes.
How It Works & Fees
What does it cost?
For each Early Access Payment, we charge a small, transparent fee which will be clearly detailed in the offer before you accept. The fee is a very small percentage of the transaction value, less than 1%. It is the same for all merchants and doesn’t change based off of the number of transactions you have accessed early. You can also find details of this fee specified in your deposit agreement. This fee is our only charge for providing your funds ahead of schedule.
Do I need to do anything after I accept an offer?
No. Once you accept an offer, the process is completely automated. We give you the funds for a transaction early and then Wayflyer collects the original payment from the payment processor on the standard settlement date, usually about 3 days later. We take our fee then, on the day the original transaction settles and we receive the funds. You get your funds early and wWe handle the rest, so you can get back to running your business.
For support questions for the Wayflyer Banking product, please do not hesitate to reach out to [email protected].
Wayflyer is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. FDIC deposit insurance covers the failure of an insured bank. The Wayflyer Visa debit card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.
Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact [email protected] with questions on the sweep program. Pass-through insurance coverage is subject to conditions.