When Klear purchases an invoice from you, the payment for that invoice must be made into your Klear account. This is a compliance requirement from our capital partners and a key part of how we reduce fraud and accelerate funding.
Your Klear account is held at Fifth Third Bank NA, Member FDIC, and functions like a standard business operating account. Funds received here from Klear are yours. You can use them to pay your suppliers directly from the platform by adding Supplier Payment Details and pay suppliers directly using Payables.
You’ll find your account and routing numbers directly in your dashboard. These details can be included on your invoice or remittance form to share with your customers.
To ensure compliance and funding continuity, payments into the Klear account are required for any invoices purchased through the platform. If needed, we can provide template language or documentation to help communicate the new instructions to your customers.
KLEAR partners with Stripe Payments Company for money transmission services and account services with funds held at Fifth Third Bank. N.A., Member FDIC.