Why is TipHaus having these updates?
TipHaus is changing some of our core partnerships with scalability, flexibility, and longevity in mind. We have learned a lot since launching Earned Tip Access in November of 2022, and we have received an amazing amount of feedback from our business and employee users.
Our new partners have the size and resources we need to scale long-term. This means building the product features we need on our long-term product roadmap and having maximum control over each part of those features.
When will this update take place?
Starting on September 16th, 2024 Banking Registrars will be able to accept the new terms and conditions, and link external accounts.
Once the external accounts are relinked, the next payouts will be sent from the new system.
If the account is not migrated by September 22nd, 2024, ETA payouts will begin to fail. See #3 for more details.
What happens if I don’t re-link my bank account/s on time?
Your business will begin to have failed payouts on September 22nd if the migration steps aren’t completed.
At this point, the Banking Registrar will have received multiple emails with links to perform the migration steps. Once that has been completed, any failed payouts can be re-initiated.
If you have any issues with getting your External Accounts relinked, please reach out to TipHaus support.
What actions must be taken to update our Earned Tip Access program?
On September 16th, the Banking Registrar will receive an email with a link to accept terms and conditions and relink external business accounts. This will migrate your business to our new Banking system so that you can continue employee payouts without issue. If you are unsure of the Banking Registrar or their availability, contact TipHaus Support (support@tiphaus.com) for assistance.
The external account linking will be performed via Plaid.
You will be able to link multiple accounts and assign individual accounts to individual stores.
Will my manager operations experience change?
The Initiate Payout process will stay the same. Once migrated, managers will still be able to initiate payouts in the same way they do today.
Will my employee’s experience change?
Employee’s currently being paid out via ETA
Employees will not be able to switch payout methods at this time. However, they can opt out of ETA and receive tips on their paychecks.
HausDirect users should not see any change in their experience. They should receive payouts like they are used to and not need to change anything on their end.
HausMoney users will not need to perform any action at this time; however, they will need to sign up for the HausMoney Charge Card account in mid-November. They will be invited, and their information will be pre-populated in the signup form so they can quickly sign up for their new account.
New Employees signing up
After you re-link your bank account, new employees will only have access to HausDirect until the HausMoney Charge Card is generally available (mid-November).
New employees signing up will have a very similar linking process to link their external account via the TipHaus Employee App.
How do I know that you aren’t going to change vendors again in a year and make us jump through more hoops at that point?
That is a completely valid question. When we built and launched Earned Tip Access back in November 2022, we were entering a new space and trying to build a product that didn’t exist in the market: a tool that handles automation and payouts from start to finish.
Since then, we have moved a lot of money, and we have learned what makes a good partner (and what doesn’t) and what features those partners need to deliver to meet the needs we hear about in our feedback. We chose our new partners and our Earned Tip Access system moving forward with all of this in mind.
Our new partners have the size and resources we need to scale long-term. This means building the product features we need on our long-term product roadmap and having maximum control over each part of those features.
Will I see any differences after the TipHaus ETA Updates?
After your account has migrated, you will see a small temporary change in the way your Earned Tip Access payouts appear in your external bank ledgers.
Before December 1st
If you have employees signed up in HausMoney and HausDirect:
You will see two ACH transactions for each payout: one representing the amount paid out to your staff through HausMoney and the other representing the amount paid out to your staff through HausDirect.
If you have employees only on HausDirect Only:
You will see a single ACH transaction for each payout. Representing the full amount sent.
If you have employees signed up for HausMoney Only:
You will see a single ACH transaction for each payout. Representing the full amount sent. However, new employees will only be able to sign up for HausDirect moving forward unless you decide to opt-out of the HausDirect.
After December 1st
All Payouts will return to a single ACH transaction per payout, representing the combined total of HausMoney + HausDirect Payouts.
Extra Questions
Why do I see two ACHs after I relinked my bank account?
See the answer above.
What improvements can we expect to see?
For information on what improvements you can expect, please see this article
Will my employees lose any features?
For the time being, minors cannot sign up for the HausMoney Charge Card because it is a credit product.
Minors can receive tips on HausDirect
Minors can receive tips on paycheck
Users will still be able to transfer money out of their HausMoney account to their external account.
ATM Limits for HausMoney Charge Cards are the same.