Our goal is to give you complete transparency regarding how much you are paying us and why. Your Billing Page is a real-time record of the work we are doing and how much we are charging you for it.
Credit Card vs ACH
The primary difference between Credit Card and ACH is the way we handle payment processing fees:
Credit Card Customers
Whiplash is a Prepaid Service. You will prepay for about a week's worth of activity based on the past 3 weeks' volume. This is your Refill Amount. This balance will be spent as your orders ship.
When your balance reaches zero or is in the negative, that negative balance will be rounded up to the nearest $25 and added to the Refill Amount.
For example: Your account is negative $35. This will be rounded up to $50 and added to your Refill Amount.
The Refill Amount is billed through our automated payment processing system to the card on file. You can have us set a custom Refill Amount for your account instead of a flexible charge, which will be charged when your account balance reaches zero.
ACH Customers
ACH is billed similar to Credit Card payments; however, ACH charges are run once per week. You will be charged a Refill Amount for about a week's worth of activity in addition to any negative balance due at the time your ACH account is billed. If your account is still positive once we run ACH charges the following week, you will be charged your Refill Amount less the remaining balance. ACH payments take seven days from the time they are run to clear in your Whiplash account.
Note: As a prepaid service, you must keep a billable account on file at all times. If at any time your ACH debit is declined by your bank, your account will be placed on a payment hold. A credit card must be added to your account to resume service.
Payment Processing Fees
Credit Card
Whiplash charges a payment processing fee of 2.75%of the total amount billable for each payment made via credit card, except as otherwise exempted.
ACH
Eligible clients may elect to pay a payment processing fee of $25.00 total monthly, covering a full month's statement period.
Note: To be eligible for the Flat Payment Processing Fee of $25.00 per month, you must submit a completed ACH Authorization form to support@whiplash.com. Our Support team will provide you with instructions to complete the ACH account verification process. Any account used for ACH must have a physical presence in the United States. Online/Mobile Banks without a physical presence in the US will not be verifiable.
Storage Fees
Storage fees are applied on the first of the month to cover the previous month's activity. The amount is based on what you have in stock at the end of the month. So, if you receive your product on the 15th and ship it all before the 1st, you beat the system!
If your actual storage charges are less than the minimum storage fee, a second fee is added to make up the difference. We list the two fees separately so you can see how much "free" storage you have left vs. the actual storage you are using.
Invoicing and Statements
Because we are a prepaid service you will not receive invoices from Whiplash. Each month, we will email you a statement for your records and reconciliation. This statement will cover the previous month's charges. Once generated, your statements are also stored under "Billing History", which can be accessed from the "Customer" dropdown.
From there, you can view and search all transactions or download a CSV of all billable charges for that period.
Accepted Credit Card Payment Methods
Visa, Mastercard, and American Express are accepted for all US Whiplash locations. Non-US locations are billable via Visa and Mastercard only.
Domestic and International Wire Transfers
There are instances in which a CC charge will be denied when the customer's account balance exceeds their credit card limit, creating an issue because we are not able to collect payment. In these cases, we offer the option to do a wire transfer. We offer Domestic and International Wires.
An authorization must be obtained from the Senior Manager in Finance for a wire transfer. Once the wire transfer is approved, we will obtain the account wire information from the Senior Manager in Finance and provide it to the customer to send us the money owed. When the account is current, they will go back to their original payment transactions.
Editing Credit Card Information
To adjust or update your Credit card payment information:
1. Select "Preferences" under the "Customer" dropdown.
2. Select the "General" tab.
3. Under the "Billing" section, click "Update Credit Cards".
'Account Preferences' drop down. Select 'Preferences' > 'General' > 'Update Credit Cards.'
Multiple Currencies
If you are using Whiplash in multiple currencies, you will see a set of tabs that shows your balance in each currency. Each of these currency accounts will be kept topped-up for the upcoming week's activity.
At the end of each month, you will get a statement for each currency your business uses.
Whiplash UK billing is in British Pounds/Sterling. Whiplash Canada billing is in Canadian Dollars.
Rate Change Eligibility
Customers are eligible to submit a rate change request after the most recent 90 days of history into a qualifying tier. Tier rate changes are not retroactive and rate changes, if any, are effective after a customers request is approved. You may submit your rate change request to support@whiplash.com.
Related Questions:
What is the difference between the way ACH and Credit Card are billed?
What is a Refill Amount?
What is the payment processing fee for Credit Card?
What is the payment processing fee for ACH?
How do I submit an ACH Authorization form?
How are storage fees applied?
How can I access my invoices?
What kind of wire transfers do you offer?
Which Credit Cards are accepted?
How do I edit my Credit Card information?
How are multiple currencies sorted in Whiplash?
When am I eligible to submit a rate change request?