Upon launching on the Fy! platform, our Account Management team will have created a Tipalti account for your finance contact which you provide on sign up. This contacts should of then received an activation link to set up your Tipalti page, please be aware this activation link does expire so if you believe you have not received it please contact finance@iamfy.co
So you're aware, at the end of each month we check that all our suppliers have created their accounts should they have a payment to be sent, and we will reach out to you incase you've missed it to ensure it's set up in order to receive your payment.
Please see below an explanation of how to set up your account through the Tipalti link, it's important to remember that the contact details should be that of the team member in charge of handling finance as they will also receive your monthly sales invoices.
You will be asked to fill out the below so please have these details ready:
- Name
- Address
- Email
- Payment Details
- Payment Method
- Currency Selection
- Account or Paypal Details
Below you can see more information on each payment method to ensure you have picked the best suited for your needs:
eCheck / Direct Debit ACH (USA)
These options are the equivalent to a local wire transfer and there is a payment threshold of 50 USD/ EUR/ GBP - this means if your payment is below the threshold the system will not pay out until you have accumulated enough payments to reach the threshold - this is to reduce transaction charges. Any FX charges and transaction fees due are covered by Fy!.
Paypal
This option has no threshold on Paypal payments if you accept payment in USD, however you may choose to set your own to manage the Paypal processing charges you pay to receive payments, you can do this from the supplier portal once you have created an account. There are additional fees deducted (2USD + a 2% conversion fee) if you wish to be paid in any other currency other than USD.
Wire Transfer
This option is only recommended if the above two are not available, please be aware there is high transactional fees and these must be paid by the payee.
If you have any queries about payments and Tipalti, please do view our Finance FAQ section or if you're unable to find your answer there please contact the Finance team on finance@iamfy.co