Wishlist's Billing Process operates through a Reserve Account. This means that, at all times, you will have an open balance in your Wishlist Reserve account. For any payments made in a given month, whether reward purchases or the software fee, the cost will be deducted from your reserve account. You will then be billed on the first of the month for the amount required to replenish your Reserve Account to the invoicing threshold (your required minimum amount).
How Do I Process Payments to Wishlist?
Wishlist uses Bill.com as a way to send electronic invoices to our clients. While you are prompted to create a bill.com invoice, creating an account is not required to process payments through Wishlist.
You will receive an initial invoice prior to launching on Wishlist to cover implementation fees and establish your Reserve. All invoices are due upon receipt.
What Methods are Available to Pay my Wishlist Bill?
You can pay your wishlist bill via ACH payment, wire transfer, or a credit card.
- Option One: Set up electronic payments through Bill.com. This allows you to link your bank account and process payments upon review of your invoice. Some applicable fees may apply, see Bill.com for details. ** Please note that the payment processing time for this option is 3 business days
- Option Two: You can process an ACH through your bank. Inquire with your bank to learn about possible fees associated with this. Please use the Wishlist banking instructions on your invoice to set up this payment method. ** Please note that the payment processing time for this option is 2-3 business days
- You can wire funds from your bank directly to Wishlist. Inquire with your bank to learn about possible fees associated with this. Please request wire instructions from your Client Success Manager or email email@example.com ** Please note that the payment processing time for this option is 1 business day
What Else do I Need to Know about Billing?
- Invoices are sent on the 1st business day of the month via bill.com. Your invoice in generated in tandem with a monthly spend report which will include a breakdown of reward transactions from the previous month and your software fees.
- Additional invoices can be requested by Program Admins via the Wishlist portal throughout the month as needed.
- If you have arranged to pay your bill by Credit Card, your client reserve will allow negative balances. Credit card payments incur a 3.5% processing fee.
- Reach out to Wishlist at firstname.lastname@example.org if you'd like to adjust your Reserve Account amount.