Our pricing is straightforward, transparent and provides customers with Dynamic Pricing*
Pricing is based on your usage. Usage is the number of payments you make in a month. *Dynamic Pricing is associated with the number of payments made onto debit cards “Faster Pay”
RACK RATE PRICING-2023
|Direct Deposit Subscription||Our standard ACH payment speed if the contractor receives funds to their bank account.||Included in monthly subscription fee (see chart below)|
||Our expedited Direct to Debit Card Feature that allows for faster & instant payments.||
2.9% per transaction.
Deducted from each payment that the contractor receives with Faster Pay.**
|1099 Filings & Compliance||Includes W9 collection, state and federal filings and option for digital or paper copies.||
$5 per filing
(digital and paper)
|Contractor Service Fee||
This fee includes:
$2 per contractor a month.
Businesses have the option to cover the $2 fee on behalf of the contractor.
*1099 Filing Fees and $2/month per contractor fees are calculated and billed separately.
Usage is determined on the first day of the month for the previous month. Your monthly fee is associated with the Tier your usage falls into. *
|Subscription Tiers||Total Payments Sent||Monthly Rate||Example 25% Pricing|
Above 520 payments in a calendar month, you will be billed per transaction. Custom pricing is available at scale.
Dynamic Pricing :
As your workforce enrolls for Faster Pay (payments onto their debit card), you will become eligible for dynamic pricing. Your monthly rate will be based on the percentage of payment volume onto Debit Cards during each calendar month. The 1099 worker is charged a 2.9% fee on their payment.
Dynamic Pricing via Faster Pay:
|% of payments sent to Debit Card Contractors during a calendar month||Monthly Rate|
|0 - 24%||0%|
|25% - 29%||25%|
|50% - 74%||50%|