What is WePay?
WePay, a JP Morgan Chase company, is a merchant-payment platform trusted by thousands of businesses worldwide to safely and securely handle payments. We require clubs that wish to run events on our platform to have a WePay account.
Who should set up the WePay account for my club?
WePay should be set up by the owner of the club or the person who is responsible for the club income and tax reporting. WePay verifies the identity of each user of the WePay service in order to manage risk and to comply with anti-money laundering laws. If you are an individual or sole proprietor, WePay will also use your Social Security Number for any required tax reporting. If you are acting on behalf of a corporation or other organization with an Employer Identification Number (“EIN”), WePay will use the EIN for any required tax reporting instead.
What information does WePay require?
Social Security Number of the individual creating the WePay account or Employer Identification Number (“EIN”) of the business
Business type, name, website, description, address and phone number
Personal details about the WePay admin/business controller. Even if you are acting on behalf of an entity with an EIN, WePay requires the SSN of you (or your controller/person in charge) so they can verify who you are and that you are authorized to act on behalf of the entity.
Information about individual ownership
Business banking information (bank name, account number, routing number).
Why do I have to input my EIN/SSN? Can I input something else or bypass that?
Even if you are acting on behalf of an entity with an EIN, WePay requires the SSN of you (or your controller/person in charge) so they can verify who you are and that you are authorized to act on behalf of the entity. WePay operates under strict regulations by the U.S. Department of Treasury and the Internal Revenue Service and is required by federal law to collect a Social Security Number before allowing any online transactions by users. They cannot send funds online without first collecting such required information. WePay only collects information required to meet these federal requirements and keeps your information safe with bank-level security measures.
What banking information do I use?
Use the banking information tied to your business/club.
Do I need to set up WePay?
WePay is required if you want to run paid events on the UTR platform and receive payments from players. You may not accept payment on-site or use other merchant services, such as PayPal/Venmo. Failure to comply with these rules will result in permanent loss of privileges. If players want to register for your event after registration has closed, simply reopen registration for them and close it once they’re in.
How long does it take to get my funds?
WePay allows you to set up your withdrawals on a weekly, bi-weekly, or monthly basis. The first withdrawal takes a few extra days to complete with WePay verifies your bank account.
Can I have multiple WePay administrators?
No - WePay is meant to be set up and managed by one individual.
Can we have different WePay accounts for different events?
Each club has one WePay account. All events with entry fees for that club will use that WePay account.
I’m having other issues with WePay, what do I do?
Reach out and leave us a note here.