Payment Information: For information on payment options and schedules, click here.
The payment step of the race wizard deals with where the race payments should be made, and how processing fees should be handled in race related transactions. Also in this step, you can enable donations.
Your payments setup can be accessed by going to the "Payments" step of the race wizard. This can be re-entered under the "Race" tab of the dashboard, in the “Race Wizard” section, or by going to the "Financial" tab of the race dashboard, and selecting "Payment Setup".
The first section of the "Payments" step is for setting your payment method. While RunSignUp does offer you the option to "Set Up Later", it is recommended that you set up your payment information as soon as possible.
This tutorial will explain setting up your payment method now (recommended), setting up your payment method later, using the "Test Mode", and customizing the general settings of the "Payments" step.
How To Setup Payments
Setting up payments lets race directors, RunSignUp partners, and timers setting up events for others determine how payments will be processed. In order to begin payment processing, RunSignUp needs to verify that you or your company are legitimate and therefore we will need to ask you a few questions about your or your company’s background.
RunSignUp gives extra benefits to those who are able to provide more information about themselves or their organization such as a lower processing fee for donations, and the ability to get payments from transactions daily.
Table of Contents
- Getting Started
Setting Up Your Payment Method
- Creating a New Payment Account
- Indicating Total Sales Volume
- How Would You Like To Get Paid?
- Finishing Up Account Setup
- Setup Payments Later
To start you can either access the Payment Setup via the Race Wizard and clicking on step 6 here:
Or by navigating to the Financial section of the dashboard and clicking the Payment Setup link here:
The first section of Payment Setup is to define your payment method. While you can chose to setup your payment method later, it is recommended that you enter in your payment method as soon as possible.
To begin payment setup, click the Set Up Now button above. When you click this a new menu appears below, allowing you to create a new payment account, or select a previously set up account.
If you are selecting an existing payment account, then simply find it in the Payment Account dropdown menu and then click Save and Continue.
If you need to create a new payment account begin by clicking the Create New Payment Account button listed under Payment Account.
Your information from your profile will auto-populate the fields, but you will need to type in your home phone number and the last four digits of your social security number to further verify your identity.
Next, you’ll need to select who you want RunSignUp to pay. You can select from yourself, a business entity, a 501c(3) charity, or a school, government, or other non-profit organization.
Start by selecting “Yourself” from the dropdown menu here:
Be mindful that if you are a Sole Proprietor of a business, it is best for you to select the Business Entity option, not the "Yourself" option.
When you select the "Yourself" option, your personal information entered in the prior area is used as your payment information. If you need to change anything, do so above in the "Verify Personal Information" section above.
If you’re setting up payments to a Business Entity, select that option from the dropdown, and fill out all pertinent fields. Be aware that if you decide to have checks written to you instead of direct deposit, they will be written out to either the Business Entity name or your Doing Business As name.
An important feature of payment setup is whether or not you’d like to participate in our Advanced Payment Option to receive the following benefits:
- Funds availability typically 1 day faster than Quick Start Payment
- More detailed financial reporting
- Payment frequency up to daily
- The Advanced Payment Option require a little more information than a Quick Start set up to satisfy IRS and credit card processing rules
- If you are a 501c(3) charity we will present you with the choice to set up the Advanced Payment Option at the time you set up your payment account
- Any other individual, business or non-profit entity who wants the additional benefits can move to the Advanced Payment Option at any time
Which you will need to provide more information in order to receive to satisfy IRS and credit card processing rules.
You can do so by checking this checkbox and filling out the following fields.
Setting up payments for these other options is exactly the same as setting up a business, but the Legal Entity Type options will vary based on which type of account you are setting up.
Once you’ve set up the new payment account information, you will need to enter in how much sales volume through credit card transactions you would expect in a year.
And let us know whether or not this organization has accepted credit cards before.
Next, you will need to decide how you or your organization would like to be paid. The recommended method for getting paid is direct deposit. Setting up direct deposit is much more convenient for you and your race because you will not need to rely on the speed of the postal service to receive your payment, and you will save yourself on trips to the bank.
When filling out this information, remember that your bank routing and account numbers can be found on any check that you have from that account.
If you select direct deposit you will need to enter in what type of bank account you want to deposit your race funds to. You will also need to provide a place to write a check to for certain things that RunSignUp may not be able to process as a direct deposit, such as writing a refund reserve balance check.
With direct payments, payments will be released from RunSignUp once they are settled with the user's credit card company. Race funds are released according to your settings (daily, weekly, monthly), however there is usually a short delay (about 2 banking days) before they will get deposited in your account. This is the processing time that the banks take to transfer the funds and update your account. The actual time can vary depending on the bank, but you should be able to determine what the normal delay is once you have seen a few deposits posted.
If you decide to set up your account to pay by a check, you can do so by filling out all necessary fields below. Manual payments are processed each Monday for any race that has over $200 as of the previous Friday at midnight OR any race that has finished at that time regardless of amount owed. Manual payments depend on the speed of the postal service, so they could take up to a week or more to arrive.
Once you have filled in all of the information that you can, read through the payment account agreement terms, type your name in the box below to agree to them, and select the Save & Continue button below.
If you do not have the information necessary at the moment to completely set up a new payment account, or you are just creating an event for another person or entity and would like to send them instructions to set the payment account up themselves, RunSignUp allows you to chose to set up payments later.
You can enter an E-mail address here to send instructions to someone else to set up a payment account for this race.
The person will receive a link to enter in their payment information. If they are a RunSignUp user already they will login and go straight to the payment account setup. If they are not a user, they will need to register so we can maintain security.
If you plan on setting up your account later, you can select this option to allow a deferred setup. Select the Deferred Setup option only if you cannot obtain the information to set up a payment account at the moment, but wish to start accepting transactions.
Participants will be able to register, but you will not receive any payments until you enter in your payment information. Transaction processing will be limited to $3,000 and payments will not be processed until the information is complete.
All transactions may be refunded to users if you do not enter this information in a timely manner or your account is not approved.
Use this option if you just want to test registration without actually accepting credit card payments or if your race only has volunteer or free events. When you are ready to accept transactions, you can set up your payment information on this page.