How do I receive payouts?

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In order to collect payments for an event and get paid out, you can optionally link to an existing Wodify Payments account or create a new one for your challenge. Wodify Payments is powered by Stripe.

From the Payment Settings page 

Paying Fees

When using Wodify Rise, you can choose how you want to handle fees.

  • Pass fees on to participants: Include the registration fees in the ticket price (you pay nothing)
  • Absorb Fees: Deduct the registration fees from the final sale price. 
    *Once your first ticket has sold, you will not be able to change these settings
Tax Options: 
  • If you need to collect taxes on your ticket sales, select:
    • 'Yes, I need to charge taxes' 
    • Enter your country
      *Wodify Rise can only process payments for the US at this time*
    • Enter the 'Tax Name', this will appear on the ticket
    • Enter the 'Tax Rate'
  • Otherwise, select 'I don't need to collect taxes'

Refund Policy

Choose the refund policy for your challenge that will be displayed on your challenge page. Regardless of the option selected, you can manually issue a full refund to your participants up to 4 days after the end of your challenge. All Wodify Rise fees will be returned, and the participant will receive their funds within 5 - 10 business days.

Refund Options:
  • No Refund: No refund at any time. RECOMMENDED
  • 7 days: Participants can ask up to 7 days before the challenge starts.
  • 14 days: Participants can ask up to 14 days before the challenge starts.
  • 30 days: Participants can ask up to 30 days before the challenge starts.

Receiving Payouts

In order to receive the funds from your ticket sales make sure you configure your payment info below. The funds will be paid by direct deposit and the transfer of funds will be initiated within 5 - 10 business days after your challenge ends.
 
If you're taking payments in U.S. dollars and your account qualifies, you can apply to receive payouts before your challenge takes place to help cover for challenge expenses.
 
With early payouts, you'll receive weekly payouts of 75% of net ticket sales. The final 25% will be paid by direct deposit and the transfer of funds will be initiated within 5 - 10 business days after your challenge ends.
 
*Applications might take up to 3 business days to be received.
 
  • Select the Country in which you will be paid
  • Select the Currency
  • Select a Payout Account whether you:

    1. If you do not use Wodify Payments for your merchant processing, or you do not have use Wodify Core at all, you will click 'ADD WODIFY PAYMENT ACCOUNT'

    2. If you use Wodify Payments for your merchant processing in Wodify Core, you can click 'Login as Wodify Core admin to import account'. 

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Setting up your Wodify Payments Account

Complete the following fields to set up your Wodify Payments account for Wodify Rise!

  • Configuration Name: Name this configuration
  • Account Type: Individual or Company
    • If Individual: Enter SSN
    • If Company: Enter Business Legal Name & EIN
  • Address
  • Short Description of Business
  • Personal Details
    • Name on Account
    • DOB
  • Bank Details
    • Routing Number
    • Account Number
  • Credit Card Statement Details
    • Statement Descriptor: How charges will show on bank statements
    • Phone Number
  • Terms of Service Agreement: Read and check to Accept

Click Create Account and you are ready to start processing payments!

 

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