Understanding Failed Payroll Fundings
A failed funding occurs when your bank account lacks sufficient funds to cover payroll and taxes by the 4pm PT processing deadline.
Immediate Consequences
1. Bank ACH Fee: A $100 fee will be charged by our processing bank
2. Payroll Access: Your ability to process payroll will be temporarily blocked until our automatic re-debit clears
3. Processing Speed Downgrade: Your access to next-day and 2-day payroll processing will be suspended for a period of time.
❗ Account Termination
Upon reaching 6 failed fundings, our banking partner will terminate your payment services access, which will result in the termination of your Warp services. It is important to keep your company bank account sufficiently funded for payroll.
Required Funding
Your bank account must have enough funds to cover:
The exact Withdrawal Amount is clearly displayed for every payroll before processing. This is the sum of all Net Pays and Employer and Employee Taxes.
Critical Deadline
Ensure full funding is available by 4pm PT on your scheduled debit date in Warp.
Resolving a Failed Funding
If a funding failure occurs, you will receive a notification and wire transfer instructions will appear on your dashboard. Following these wire instructions will help expedite the resolution of your failed funding and get your account back in Good Standing
💡 Tips to Prevent Failed Fundings
Use Plaid to connect your business account for secure, accurate bank details
Maintain sufficient funds in your business bank account
Set up auto-transfer rules in your bank account to automatically fund it when balance drops below a threshold
Verify sufficient funds are available before approving payrolls