How to Open a Wallet for Everlance Payments

Looking for a more efficient way to manage your funds and process reimbursements? Say hello to Everlance Wallet—designed to simplify payment management right from your Team Dashboard. The Wallet, powered by Lincoln Savings Bank, allows Admins to easily handle payment funding so they can make payments for individual reports or cover entire pay periods with just a few clicks. 

When setting up the Everlance Wallet, you're opening a bank account hosted by Lincoln Savings Bank, so you'll need to gather the following information to complete this one-time process:

• Business Info — Legal name, address, and employer identification number (EIN).
  • The EIN is frequently used on tax-related documents, (e.g., a tax return, or loan application). 
• Officer Info — Contact information and social security number for an officer named on the account.
• Beneficial Owner Info — Contact information and social security number for anyone who owns more than 25% of the business.

Once you have this information ready, follow the steps below to open your Wallet and start managing your funds with ease.

Step 1: Log in to your account on the 'Team Dashboard'. 

Step 2: Click on 'Wallet' from the left side of your screen. 

Step 3: Before applying for Wallet, ensure you've read and understood Everlance's Terms and Conditions. Simply check the box below when you are ready to confirm your agreement. 

Step 4: Next, click on 'Open a Wallet'.

Step 5: To get started, we need some basic information about your business. Please provide details such as the legal business name, a "doing business as" name (optional), employer identification number, business vertical, and phone number. When you’re done, click 'Continue' at the bottom of the screen.

Step 6: Next, provide additional business information, including the year of incorporation, state of incorporation, and entity type. You’ll also need to answer whether the officer or any of the owners are non-US nationals.

Step 7: Next, please enter details for one officer at the business, including their first and last name, title (select from the provided list of qualifying titles), phone number, email address, date of birth, nationality, and social security number.

Step 8: Next, enter the details of the business contact. This person is usually responsible for managing the funds in the Admin Wallet. Their phone number will be used for two-factor authentication when requesting to fund the wallet from an external source through the Dashboard. Therefore, the business contact should also have authorization to access any external funding source used to fund the Admin Wallet.

Step 9: We'll then send an SMS verification code to the phone number listed under 'Business contact'. Please enter the 6-digit code in the box below and click on 'Verify'.

Step 10: Next, enter the information about any owners who hold 25% or more of your organization. You will need to click the box confirming that the information that you provided is complete and correct.

If there are no Owners who hold more than 25% of the business, you do not need to provide their contact or tax information.

Once you are finished click, 'Submit'.  

Most Wallet applications are approved within 1 business day (but often sooner!). If flagged for manual review, the process usually takes a few hours to a day, assuming there are no issues. In rare cases, additional documentation may be requested.

You will then receive a message stating whether your Wallet application has been approved or denied. 

Up Next...

Ready to fund your Wallet and dive into hassle-free payment processing? Click here to discover the available deposit options in our guide on how to add funds to your Wallet.
FAQ

Customer Support:

If you need to contact support or have questions, please check out our help center at help.everlance.com or reach out at support@everlance.com or by phone at (872) 814-6308 (USA) or (877)704-2687 (CAN). Our office hours are 9am-5pm EST Monday - Friday and 9am-1pm EST on weekends.