Do I need to open multiple bank accounts with my current bank?
No, you can keep using your current bank account structure and/or open multiple accounts - it can be done either way.
Can I collect funds through Clearing?
Within Clearing, you can maintain a main balance of funds within the platform. Clearing is a Financial Technology Company and not a bank.
Do I need to change my current bank?
Absolutely not. You can keep your existing bank account(s).
Can I set aside a portion of the main balance for future use?
Yes, you can create sub-ledgers to set aside a portion of the funds from your main balance. You can always add & remove funds from a sub-ledger. Coming soon: rules to automatically populate sub-ledgers.
How can I fund the main balance?
There are 2 ways to funds the main balance:1. You can send funds from your current bank account to your main balance account number via ACH. (bank to bank transfer)2. You can link your existing bank account in Clearing and initiate a transfer in Clearing from this account to your main balance.
How many balances can I have?
You will have a main balance for each business (i.e. legal entity) that you manage in Clearing.
What is a main balance?
Within Clearing, you can maintain a main balance of funds within the platform for paying out of. Clearing is a Financial Technology Company and not a bank.
How can I use Clearing to collect funds?
Within Clearing, you can maintain a main balance of funds within the platform. Clearing is a Financial Technology Company and not a bank.
Where are my funds stored with Clearing?
Clearing is a Financial Technology Company and not a bank.
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