Brightwheel has begun releasing our new billing platform for new users. If the content in this article does not match what you see in your account, please click here for related content in your account.
Feature Available on All Plans
Feature Available on Web App
With online payments, brightwheel will group all payments made from the close of the last business day to the close of the current business day. This means you will see a single larger deposit in your bank account rather than a new deposit for every payment.
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When parents pay with a credit or debit card, the funds are deposited into your account as early as the next business day. If a parent pays via bank transfer (ACH), payments are deposited in 2-3 business days. For all ACH transactions, the parent's payment provider and the Federal Reserve need to first coordinate to approve the payment, then the Federal Reserve has to confirm with the school's bank as well.
It's worth noting that brightwheel offers the fastest deposit times in Early Education. Similar services out there offer a 3-5 business day window for payments to process, and only shorten that if you're willing to pay a large fee.
Brightwheel has worked hard to shorten this time for our schools, so you can get the funds quickly from your families.
When a payment has been approved, you will notice that the student’s account balance will be reduced by that payment and the statement may be marked paid, but the funds have not been deposited in your account. A Deposit Details report will be coming soon to provide greater insight to this information.
It's very rare, but occasionally a parent's payment fails after brightwheel has already made that deposit into the program’s account. When this happens, brightwheel will need to deduct that payment back from your deposit account to reconcile those funds. Details about this deduction can be found in your Deposit Details Report.
Brightwheel will always alert the program and the parent when a payment fails. If your program has funds being deposited for other payments when this payment fails, then the negative amount will be grouped in with that deposit, lessening the amount that posts to your bank account.
If there are no funds being transferred to your bank account at the time the payment fails, then you will see a withdrawal from your account for the amount of the payment originally deposited.