As the COVID-19 situation continues to evolve, WePay is committed to protecting our merchants. During this time of uncertainty WePay may hold settlement limits on your account.
Settlement limits protect both our merchants and WePay from the financial impact of losses from refunds and chargebacks if there is a disruption to the scheduled event.
How this may impact your account:
- Our settlement limits are also called reserves. All funds will be held
in your WePay account.
- The funds will be released within 15 business days after the event has
- Typically the settlement limit is 20-30% of all ticket sales for the
- Funds may be held longer if there are high refunds or chargebacks.
After our Trust and Safety team evaluates your account, we will let you know your settlement limit. WePay will hold all funds until your account has reached the 20-30% threshold.
As soon as your WePay account reaches that total, the remaining 70-80% of ticket sales will be released to your linked bank account on file. Once your event completes, we’ll release the remaining funds within 15 days in almost all cases.
For further questions on reserve holds, or anything else about your WePay account, please contact
support at https://support.wepay.com/hc/en-us/requests/new.