What is the Cleo Pay balance?

Your Cleo Pay balance is an account that holds money for your business inside Cleo Pay. You can add money to it from your linked bank, pay vendors from it, and withdraw it back to your bank. A payment from your balance goes out the same day, so it's the fastest way to pay a vendor.

Where to find it

Click Balance in the sidebar. Admins can also open it from Settings, then Balance. The page shows your available balance, money coming in and going out, and a list of every transaction.

The status next to your account reads "Active" once it's ready to use. Before your business is verified you'll see a note asking you to finish verification first.

Add money

1. On the Balance page, click Add money.
2. If you haven't connected a bank yet, you'll see "Authorise your bank". Tick the authorization and click Connect bank account, then sign in to your bank.
3. Enter the amount.
4. Click Add money.

The money comes from the bank marked Pays from and arrives in about 2 business days. You'll see "Deposit started. Funds usually arrive in about 2 business days."

Each deposit has to be at least $1.00 and no more than $50,000.

Withdraw money

1. On the Balance page, click Withdraw.
2. Under "Withdraw to", pick the bank you want the money sent to.
3. Enter the amount. You can't withdraw more than your available balance.
4. Click Withdraw.

A withdrawal arrives in 1 to 2 business days. The largest single withdrawal is $50,000.

Paying vendors from your balance

When you pay a bill, you choose where the money comes from: your Cleo Pay balance or your linked bank. A balance payment is sent the same day and reaches the vendor in 1 to 2 business days. Your balance has to cover the whole amount. If it doesn't, pick your linked bank or add money first.

You can't schedule a payment from your balance. Scheduled payments come from your linked bank. See Where does the money for a payment come from?

Money passing through

When you pay from your linked bank, the money moves from your bank into Cleo Pay and then out to the vendor. While that happens, the Inbound total on the Balance page notes how much of it is "passing through to vendors". That's money for payments you've already sent.

Where the money is held

Cleo Pay partners with Stripe Payments Company for money transmission services and account services, with funds held at Fifth Third Bank, N.A. Cleo Pay is a financial technology company, not a bank.

Questions

If a deposit or withdrawal hasn't arrived after the time above, email support@cleo-pay.com with the amount, the date you started it and the last four digits of the bank.