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WebABA processes payments using two different secure payment processors: Vantage, and Therapy Brands Pay with Stripe. The steps you will take to update your bank account depend on your payment processor.
How do I know which payment processor WebABA uses for my practice?
Depending on which payment processor your practice is using, click the appropriate tab below to learn about payouts to your bank account.
NOTE: For payment-related questions, please contact the payments team at 844-311-2570 or payments@therapybrands.com.
Payouts to Your Bank Account: Therapy Brands Pay & Stripe
In most cases, when you start processing live payments from your customers with Stripe, you won’t receive your first payout until 7–14 days after receiving your first successful payment. Processing subsequent payouts then happens according to your account’s payout schedule.
Your Payout Schedule refers to how often Stripe sends money to your bank account. The default Payout Schedule is daily automatic.
Your Payout Speed refers to the amount of time it takes for your funds to become available. Your payout speed is two business days, meaning that if you’re on daily automatic payout schedule, the funds paid out daily would be from two business days preceding. Most banks deposit payouts into your bank account as soon as they receive them, though some may take a few extra days to make them available.
Payouts to Your Bank Account: Vantage
We offer Net Deposits for Deposits and Processing Fees associated with your Merchant Processing Account.
Jump to Section [Understand Net Deposits] [Example of Net Deposit]
Understand Net Deposits
What are Net Deposits?
- Net Deposit will include the sum of all Credit Card payments made minus all applicable processing fees.
What happens when I process a Refund?
- In addition to the daily Net Deposit transaction you'll see a second transaction that includes refunds. If no refunds were processed the previous day then you should not see a second bank transaction.
What will show on my bank activity?
- WebABA Merchant Deposit: Deposit of Credit Card transactions processed in WebABA.
- WebABA Transfer: A Merchant Refund that will debit your account for a Refund you have issued to the Client.
When do I receive my Net Deposit?
- Deposits are dependent on when the payment is disbursed from WebABA and registered by your bank. The Disbursement date is different the your Bank Deposit Date.
- Credit Card Payments processed in WebABA BEFORE 5pm EST will be lumped into one payment Disbursed from WebABA at 5pm EST. Typically your bank will register the Deposit the next day, although, depending on your bank it may take more time.
- Credit Card Payments processed in WebABA AFTER 5pm EST will be lumped into the next days payment disbursement (the next day at 5pm EST) and will be registered by your bank after that.
- See below for examples and caveats.
Example of Net Deposit
You (Provider) charge three Clients on Wednesday:
- Client 1: $100 (at 10am EST)
- Client 2: $50 (at 3pm EST)
- Client 3: $75 (at 6pm EST)
Thursday's Deposit:
- $145.37 (Client 1: $100 PLUS Client 2: $50, MINUS Processing Fee $4.63)
NOTE: Client 1 and 2 were charged BEFORE 5pm EST so the deposit was lumped into Tuesday's Deposit
Friday's Deposit:
- $72.68 (Client 3: $75 MINUS Processing Fee $2.32)
NOTE: Client 3 was charged AFTER 5pm EST so the deposit was lumped into the next day's Deposit.
- Daily lump sum of all fees associated with the transactions are withheld from the deposit amount received.
- A daily lump withdraw for refunds processed the day prior (or anywhere between 1-3 business days prior, depending on bank) will be debited from your account.
IMPORTANT: The timing of the deposit and withdraw depends on the customer's bank.
Chart below shows the possible days when a bank account credit might happen:
Bank Transaction Types:
- Credit: A transaction type that will increase your account balance.
- Refund: A transaction type that will decrease your account balance.
Use this with our Credit Card Charges Report article to help you reconcile your bank statement.