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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Brightwheel launched next-day deposits in summer 2021. We have the fastest turnaround time in the industry - get your money faster so that you can put it to work for your center!
Online payments made by families by 7pm ET (4pm PT) will be deposited the next business day. A business day is considered Monday through Friday, and excludes weekends and bank holidays.
This usually includes all payments made through autopay since those are set to run in the morning.
Brightwheel works hard to get your tuition payments to your bank the next business day! However, we're unable to control how long it takes for your bank to actually deposit the funds into your deposit account. Almost all banks deposit the funds right away, but a handful can take longer, including some smaller credit unions.
Brightwheel has worked hard to shorten this time for our schools, so you can get the funds quickly from your families. Similar services out there offer a 3-5 business day window for payments to deposit, and only shorten that if you're willing to pay a large fee.
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. See the Deposits report for greater insight into 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.