Setting Up Your Bank Account in PushPress
If you haven’t set up your bank account yet, it’s crucial to do so for receiving payments. All credit card and ACH payments will be automatically transferred to your linked bank account. Efficiently setting up and verifying your bank account ensures smooth financial operations. This process is not only vital for managing deposits but also for troubleshooting issues if they arise.
Setting Up and Verifying Bank Accounts
Go to: https://YOURSUBDOMAIN.pushpress.com/settings/bank (replace YOURSUBDOMAIN with your PushPress Portal URL).
From the Control Panel, select Settings, and then select Bank Connection.
Select Connect with Stripe:
Fill in the required information and submit.
Approval:
The decision is typically instantaneous. If you have any issues with approval, reach out directly to Stripe support at support@stripe.com.
Verifying Bank Accounts
Automatic Verification (Using Plaid)
Members log in to their bank account securely via Plaid from the PushPress system.
If verified successfully, bank details are linked, and transactions are authorized instantly.
From the staff control panel, add a membership plan, and a text with verification instructions is sent to the member.
Note: Some banks (e.g., smaller credit unions) may not support Plaid functionality.
Manual Verification (Non-Plaid-Compatible Banks)
Enter the member’s routing and account number manually.
PushPress will trigger two small deposits to the member’s account within 48 hours.
Once received, the member or staff needs to confirm the deposit amounts for verification.
Steps to Begin the Verification Process
Access the member's profile via the control panel.
Select 'Request new bank account.'
Choose either:
"Instant Verification" to send instructions via email or text, or
"Manual Verification" to input account details. Encourage members to keep their banking details up-to-date for uninterrupted payment processing.
Understanding Deposit Processing and Timelines
Typical Deposit Timelines
Deposit processing often depends on your Stripe account’s configurations.
For first-time payouts: Initial payouts might take 7–14 days.
For regular payouts: Scheduled deposits are generally processed within two business days (or longer if encountering delays).
Configuring the Payout Schedule
To ensure deposits are processed as expected:
Go to your Stripe account.
Navigate to Settings > Business > Bank Accounts and Currencies.
Under the Payout Schedule section:
Select "Automatic Payouts."
Set to "Daily" payout frequency for faster deposit timelines.
Save the changes to finalize your configuration.
Common Causes for Delays
Unexpected delays in deposits can occur due to:
Account Balances: A negative Stripe balance will prevent payouts until the account balance turns positive.
Withdrawal Requests: Concurrent withdrawals during a payout cycle might prolong processing times. For instance, a withdrawal initiated on July 16 alongside a negative balance on the same date caused deposit delays until the balance turned positive. Similar scenarios may vary but commonly stem from configuration or timing concerns.
Help If you're experiencing deposit issues:
Verify your bank account has been correctly set up and confirmed.
Check your Stripe account’s payout schedule and ensure it is set to "Automatic Daily Payouts."
Ensure your Stripe balance is positive and free from pending withdrawals.
Review email or text confirmations for pending member bank verification processes and complete manual actions promptly.
If you would like more information or need further assistance, please use our HELP DOCs, just like this one or reach out through intercom, the little blue box in your CORE account or email us at support@pushpress.com. Our team is here to help.
About PushPress
PushPress is a gym management software that can help you a lot in managing your gym. We've helped thousands of local gyms streamline and professionalize their businesses with our intuitive, powerful solution for managing fitness facilities - all from the palm of their hands! Want to take charge? Give us 3 minutes on the phone or schedule an in-person demo today!