Before you begin:
Wix Capital is currently only available to eligible merchants in the US. It is not available in Utah, Connecticut, Texas, or Virginia.
Remittance is the process where Wix collects the cash advance and related fixed fee from daily Wix Payments sales.
Over time, you remit the total cash advance and a fixed fee through a percentage of your daily Wix Payments sales (determined within your Wix Merchant Cash Advance Agreement). Remittance is deducted from sales only. The remittance is deducted from your daily Wix Payment sales until you’ve reached the total to remit.
Collecting remittance based on how you receive funds
Wix collects and calculates your daily remittance differently depending on how you receive your funds from sales.
For Wix Capital users with Wix Checking
Remittance is debited from the available balance shown in your Wix Checking account.
Remittance is taken from all sales processed with any of the payment methods and processors under Wix Payments you’ve set up on your site.
An easy way to check: If a sale shows up in your Settlement Report, it is included in your daily remittance calculation.
For Wix Capital users with payouts through Wix Payments:
Remittance is deducted from your payouts.
Wix Payments works with several payment providers behind the scenes, including Stripe, Adyen, and PayPal. However, for technical reasons, remittance is only taken from sales processed by Stripe-based payment methods. This may include transactions such as in-person POS payments, recurring payments, and certain alternative payment methods like Klarna, as long as they are processed by Stripe.
Tip:
You can always see which sales are included in your remittance by clicking View details in Settlement Report for a specific day’s remittance.
Remittance terminology
Understanding the remittance terminology used in Wix Capital can help you navigate the process more effectively. Here are some key terms:
Terminology | Description |
Remittance | The process where Wix collects the cash advance and related fixed fee from daily Wix Payments sales. |
Remittance rate | This is a percentage of your daily Wix Payments sales that will be collected automatically until you’ve reached the total cash advance amount and fixed fee. |
Fixed fee | The fixed fee is calculated as a specific percentage of the cash advance you requested. You’ll remit it over time along with the total cash advance amount. |
Total to remit | This is made up of the total cash advance amount and fixed fee. |
Estimated remittance period | This is the length of time that Wix Payments estimates it will take to collect back the cash advance and related fixed fee. It’s based on your past year’s sales and it may take more or less time than this to fully remit the total cash advance amount and fixed fee. |
Checking the balance remitted
Remittance starts automatically and is hassle-free. If you receive payouts through Wix Payments, collection begins 3-5 business days after approval. If you use Wix Checking, remittance begins just 1 business day after your cash advance is approved.
Tip:
The daily remittance calculation is based on your site's time zone even if this is different from the time zone on your computer.
To check the amount remitted:
Go to Capital on your site dashboard.
View your progress in the Cash advance section.
(Optional) View the Details section on the right side to see more information about your cash advance, such as the cash advance amount, fixed fee, total to remit, and your remittance rate.
Troubleshooting remittance errors
If you experience a problem with your daily remittance, you may see one of the following error messages in your Capital dashboard.
Debit for remittance didn’t go through
This is due to a technical error with your Wix Checking account. No action is needed. Wix will automatically try to collect the remittance again on a later date.
Remittance didn’t go through due to insufficient balance
Make sure you have at least the required amount in your Wix Checking balance to cover remittance.
We will regularly try to debit your Wix Checking account for your remittance.
FAQs
Click a question below to find out more information.
When will remittance begin?
If you use Wix Checking, remittance starts 1 day after your cash advance is approved and the funds are received in your account.
If you receive payouts to a bank account, remittance starts 3-5 business days after approval, once the funds have been sent to your bank account.
Where is the remittance taken from?
Remittance is taken as a percentage of your daily sales. If you use bank payouts, it’s deducted from your payouts. If you use Wix Checking, it’s deducted from your Wix Checking balance. You can see the deduction in your payout details or settlement report.
Which Wix Payments sales are included in daily remittance?
Wix Checki ng users:
All online Wix Payments sales—including in-person POS payments and each recurring charge for subscriptions—are included in your daily remittance.
Payouts through Wix Payments users:
Wix Payments works with several payment providers behind the scenes, including Stripe, Adyen, and PayPal. However, for technical reasons, remittance is only taken from sales processed by Stripe-based payment methods. This may include transactions such as POS payments and recurring payments, as long as they are processed by Stripe.
Why do I see different daily sales in the Cash Advance Activity table compared to my orders page and payments page?
Remittance for a specific day is calculated based on the previous day’s gross Wix Payments sales, without considering refunds and chargebacks.
You can view the related transactions in the details of each remittance amount by clicking View details in Settlement Report.
Note: Remittance only applies to sales processed by Stripe-based payment methods (such as POS and recurring payments processed by Stripe). Sales processed by other providers, like Adyen or PayPal, are not included in remittance calculations.
This article is credited to the Wix team - https://support.wix.com/ and we thank them for that!