The Advanced Payment offers the following features (Not available on a Quick Start account):
- More detailed financial reporting
- Lowest available fees for processing donations (4%)
- A longer descriptor field which helps reduce the incidence of chargebacks
- Quicker settlement and payment of American Express transactions (daily versus 2 to 3 days under Quick Start)
- Less delay on weekly payments (settlements through Monday instead of the previous Friday)
- Direct deposit payments made weekly by default with no minimum balance requirement. Or you can choose to release funds Monthly or on a specific date.
- Eliminates the need for separate pay outs of reserve funds by check
- Allows for the funding of the reserve from settled funds in the race account or even from another race that shares the same payment account.
If you would like to upgrade to an Advanced Payment account, go to your Race Dashboard and navigate to Financial -> Payment Setup -> Set Up a New Account (Make sure to check Advanced Payment). For assistance, contact email@example.com. (When possible we recommend you upgrade on a non-active race and then transfer active races to the approved account.)