Vlge partners with Western Alliance Bank to offer ACH and physical check payment services, as well as handle core banking services. You do not have to use Western Alliance Bank for your core Association Banking. You get a free account with Western Alliance that allows you to collect dues via ACH in a cost effective manner, as well as take advantage of Vlge's automated Bill Pay features.
Frequent Questions
Q. Do we have to open an account?
A. No, you do not have to open an account. However, your ACH fees per payment may be higher using Stripe only for payments. The Western Alliance Account can be viewed as a "holding" account for incoming ACH payments before you transfer funds out to your existing operating account (if desired). You can also view your WAB account as a staging account for Bill Pay activities.
Q. What is Bill Pay with Vlge?
A. Your vendors can send you invoices at your designated account email ([email protected]), which will present you and your designated approvers with the request for payment (In Vlge) that you can then view and approve. Once approved, the system will automatically generate a payment to that vendor, either via ACH (if the Vendor is set up) or via paper check through the Western Alliance vendor direct payments.
Q. Can we use the Western Alliance accounts as a normal operating bank account?
A. Yes. Western Alliance is the leader in Common Interest Association Banking - part of a banking group with over $90B under management. They are fully FDIC insured. WAB makes banking easy with integrations to leading Association platforms like Vlge. You can utilize your Operating or Reserve accounts as you would any other bank.
Q. How do we fund our account?
A. There are two ways - via wire or by mailing a check. Read more in the file attached below.
Q. Can we use WAB for credit cards?
A. No, not currently. While WAB may enable credit card processing in the future, at the moment Vlge uses Stripe for CC processing.
Q. Are there any fees for WAB?
A. There are no account opening fees, minimum balance requirements, or funding fees for Operating or Reserve accounts. For Payment services (ACH and Paper Checks to vendors, there are small standard fees. You can see the current fees in your Vlge Platform.
Q. How long does it take to open an Account?
A. Usually 2 days or less (non-holiday, weekdays). Once you see account numbers, your account is in the process of opening. Once you see a zero balance in Vlge, your account(s) is/are active.
Q. What is the routing number for Western Alliance Bank?
A. 122105980 - You can find your Routing and Account numbers in Financial Dashboard, Bank Settings. Hover over the last 4 of the Western Alliance bank account number and you can easily copy either number.
Q. Can we deposit checks remotely? (Image to Deposit)
A. No. Because it is unusual for a Board member to handle physical payments, the accounts are not setup for this service. You can have your members send a physical check to the lockbox with a coupon. See the welcome letter for details.