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Billing & Refunds

Clyde makes managing the movement of money between your business and Clyde 100% hands free. We handle automatic invoicing and refund management. All you need to do is connect a bank account. Read on for more information on Clyde's billing and refund practices.

Billing

A contract is broken up into two pieces – the premium and your margin. Clyde bills you twice a month for your contracts sold during a given period and leaves 100% of your margin in your bank account. If you don’t sell a contract, Clyde will not charge you.

A Bank Account Is Required to Launch

You cannot launch or record contract sales without a connected bank account

On the date that you are billed, you will receive the following information via email:

  • A CSV with the list of your contracts sold
  • The period for which you are being billed
  • The number of contracts sold
  • Your margin collected
  • Your premiums collected, for which Clyde is charging your account
Receiving Invoices

We send this email to the address associated with your Clyde account. Please ensure this is a direct email, not a catch-all.

Connect Your Bank Account

Clyde uses Stripe to process payments. We don’t save any of your information in our system and all payments are 100% secure. You can connect your bank account instantly or through micro-deposits. You can also connect multiple bank accounts and set a default within Clyde’s Settings page. The Settings icon is located in the bottom left corner of the page.

Location of Clyde's Settings Page

To expedite the onboarding process, we suggest you connect a bank account during onboarding, which offers instant verification powered by Plaid. If you skip this step during onboarding you can connect a bank account in Clyde’s settings, accessible via the gear in the left hand corner of your dashboard.

If using instant verification:

  1. Go to the Settings page
  2. In the Billing section, click "Add account"
  3. Click “Connect with Plaid”
  4. Click "Continue"
  5. Select your bank
  6. Enter your bank's login credentials
  7. Click "Submit"

If using micro-deposits:

  1. Go to the Settings page
  2. In the Billing section, click "Add account"
  3. Enter account information
  4. Click "Connect account"
  5. Please allow up to 2 business days to confirm deposit amounts
  6. After 2 business days, go to the Settings page
  7. Enter micro-deposit amounts you received. They will be under $1.00, so enter them as whole number, i.e., enter 75 for a deposit of $0.75, no periods and no commas.
  8. Click "Verify"
Non-America Bank Accounts

If your bank is located outside of the United States, Clyde can charge via credit card or invoice, upon approval.

Refunds

When a customer requests a refund, you can process the refund of their Clyde contract exactly how you’d process a product refund in your platform. Clyde’s system will automatically credit your store for the contract sale amount and apply these credits to future contract sales.

Refunds after 30 Days

Refunds requested more than 30 days after purchase are prorated based on the amount of time the product was covered. If this happens, please reach out to Clyde's refund team here.

API or In-store Customers

Depending on how you set up your API/SDK integration, or if you’re processing sales in-store, you’ll need to manually record any refunded contracts.