Table of Contents
Helpful Resources
To learn about Everflow Pay and its key capabilities, please click the "Everflow Pay Overview" button below.
If you would prefer to watch a demonstration video highlighting the main features of the Everflow Pay dashboard, please click the "Everflow Pay Dashboard Demo" button below.
Payment Information
Payment Types
Domestic ACH (duration time: 3-5 business days)
Domestic Wire Transfer (duration time: 1-2 business days)
International Transfer (duration time: 3-10 days (depending on the country))
Click [HERE] for the full list of Authorized Payable Countries + Payout Currencies available for international transfers.
Transaction Types
USD to Domestic USD
USD to International USD
USD to International Currencies (Listed HERE)
Penny Testing
A Penny Test Deposit is sent to each Domestic Partner when they complete the billing setup to validate their bank account information.
All Penny testing is paid by Everflow and will reference "Everflow Technologies", and will state "ACCTVERIFY" in the description.
Penny Tests are not sent for International Partners.
Fees
Usage Fee Tiers
Usage Fee - this is calculated from the total amount transacted through the Everflow Pay platform during the calendar month:
$1 - $10,000 | 0.50% |
$10,001 - $25,000 | 0.46% |
$25,001 - $50,000 | 0.42% |
$50,001 - $100,000 | 0.38% |
$100,001 - $150,000 | 0.34% |
$150,001 - $200,000 | 0.30% |
$200,001 - $300,000 | 0.25% |
$300,001 + | 0.20% |
Disclosure
The Everflow Pay program fee and usage fee are based on Everflow customers’ usage of the invoicing technology and platform services. Everflow Pay customers are not required to maintain an Everflow Business Deposit Account and the program and usage fees are not related to the deposit product or payment services provided through Thread Bank, Member FDIC. Please contact us with any questions at support@everflow.io.
Payment Transaction Fees and their Cost
No Transaction fee applied for Domestic ACH Transaction.
No Transaction fee applied for Domestic Wire Transfer.
$29 USD for International USD Under $10,000 amount
$40 USD for International USD Over $10,000 amount
FX Fees apply to any USD to International Currency Payments
Note: All invoices generated for an international partner that are below $50 are not payable. All international partners need to have an Auto-Invoice Threshold Amount of at least $50 applied. With the threshold applied the invoice amount below $50 will roll-over to the next invoice for that partner in order to have a cumulative amount greater than $50, becoming payable. This is to protect you and your partners against international transfer fees for small payments.
Who Pays the Transaction Fees
All International Transaction Fees are paid by the Payee (Affiliate/Partner).
How to Pay Fees
All International Transaction Fees are taken out of the payment sent.
All Everflow Pay Usage Fees are added to Monthly Everflow Platform Bills.
Everflow Pay Payer Account Setup
How to Integrate Everflow Pay
Reach out to your AM or Everflow Pay Support at pay.help@everflow.io to let us know you are interested and to ask any questions.
If you are ready to Configure the Integration and Activate your Everflow Pay account follow the steps in this article:
**Special Note:
When setting up the recipient account The Company Owner/Account Main Contact is the "Beneficiary"
What to Do Once the Integration is Active
Once the Everflow Pay Integration is "Active" the Affiliates/Partners "Payment Method" needs to be set to "Everflow Pay" for them to be able to sign up and become payable.
Please see the article below for steps to change the payment method:
Once the Payment Method is set to Everflow Pay a banner will appear on the Affiliate's/Partner's login dashboard. Affiliates/Partners will click on the banner to input the needed payment/billing details.
**Special Note:
Domestic Affiliates/Partners will only be able to see both ACH and Wire payment options if their routing number provided allows for both ACH and Wire. This is determined by the affiliate/partner's bank.
Due to The Bank Secrecy Act (BSA)Travel Rule Outgoing wires >=$3,000.00 using a PO Box for the recipient’s address will be rejected. A physical address must be provided as the Beneficiary Address for any partner receiving Wires over $3,000.00.
Please see the article below for the partner's steps to complete their payee accounts:
Partner Notifications within Everflow
Payment Executed and Invoice Available Email notifications and In-App notifications can be enabled to be sent to partners.
Funding Everflow Pay
Everflow Pay works as a wallet (bank account). At this point, you cannot fund the bank account via a credit card and there is no direct deposit pull to credit the account. The Everflow Pay account has a Routing and Account number that needs to be funded via Wire or ACH transfer.
**Special Note:
All deposits made to Everflow Pay accounts have a 72-hour hold.
Reporting
There are Invoice/Payment reports available in both Everflow and Everflow Pay.
Within Everflow, Partner Invoice reports can be pulled within the Partner > Invoice section. Learn more about partner invoicing [Here].
Within Everflow Pay, Statements are available on the Dashboard and within your Company Details.
Taxes
Domestic Tax Features: Included with your account, free of charge, Everflow Pay provides Tax TIN Verification, W9 Generation, and 1099 Tax Preparation Reports at the end of the year. W9s and other tax documents are collected during the payee sign-up from affiliates/partners. Tax TIN Verification and W9 Generation is automatically set up for all Payer accounts.
If you would like TIN Verification to be a restriction on pay-ability for partners please reach out to Pay.Help@Everflow.io to enable this setting.
All Tax Preparation reports are available for download within Everflow Pay at the beginning of each year for the year prior.
International Tax Features: W8BEN and W8BENE Information is collected from partners during the billing setup. There is no verification done for International tax information.
Payee Account Types, Account and Payment Statuses
Payee Account Types
The payee Payable account types are Domestic and International. You can see this under Payees in Everflow Pay.
Payee Account Statuses
The payee Payable account status and Not Payable Reasons are visible within Everflow under the Affiliate/Partner General details and within Everflow Pay under the Payee details.
Not Payable Reasons and their Meanings
"Account vetting in process" - this is the initial status before anything else happens.
"Payee is in probation" - when created, payees go through a probation period of 48 hours. During this period, they cannot receive payments, regardless of whether they completed the penny test or not.
"Penny test not started" - The probation period is over, but the penny test has not been initiated.
"Penny test is pending" - The penny test is in progress, waiting either for the money to fall into the payee's account or waiting for the payee to input the penny test amount in the Everflow UI.
"Penny test is completed" - The penny test is completed.
"Penny test failed" - can be failed either because the transfer could not be made to their account, or because they input the wrong amount in the Everflow UI.
**Special Notes:
All statuses are updated live from Everflow Pay to Everflow.
Payees are not able to update banking details while a penny test is in progress.
Payment Statuses
"Require Approval" - Pending Payer's Approval.
"Pending Funds" - Has been approved and is pending funds to be sent.
"Pending" - Has been approved and is in transit to the Payee.
"Rejected" - Payment has been Rejected, funds were not received by the Payee.
"Paid" - Payment has been sent and is complete.
**Special Notes:
Unpaid, Paid and In Process Payment statuses are visible within Everflow under the Payment Status Column under Affiliate/Partner > Invoices and within Everflow Pay in the dashboard and transactions.
All statuses are updated live from Everflow Pay to Everflow.
Everflow Pay & Managed Payments
Managed Payments can be added as a stand-alone service with Everflow Pay.
Invoice Generation Automation
Automating Invoicing
As of now, Everflow Pay is only compatible with the Everflow Affiliate/Partner Invoicing System. There is no external invoice uploading or availability to add invoices within Everflow Pay.
Automating Invoice Generation
You can automate invoices generation on Everflow Pay by turning on Auto Invoicing under Partner Billing settings within Everflow.
Please see the article below for steps to update these settings:
Integrations
Everflow Pay only integrates with Everflow. We do not currently have any external integrations. Quickbooks (Coming Soon)
HAVE ADDITIONAL QUESTIONS?
Visit the Everflow Pay information page, contact your Account Manager, or email the Customer Success team at pay.help@everflow.io for more info.