FAQ

General

What does Uncapped offer?

Uncapped provides founders with funding, banking and tools tailored for scaling ecommerce. From accessing dilution-free capital up to $10m, to opening a business banking account in minutes to helping you unlock your sales revenue instantly, we build bespoke solutions that help ecommerce founders save time, money and accelerate growth.  

We offer two core products: Funding and Banking

Funding: Revenue-based financing (RBF)

Banking: Instant Payouts, Automated Bills, Daily insights, Accounts, Physical & Virtual Cards, Bank and ACH Wires/Transfers

Am I eligible for Uncapped funding or banking?

Who can apply for Uncapped funding or banking? 

We offer our services to companies in the following sectors:
- Ecommerce
- SaaS
- Direct-to-consumer
- Gaming and app development

Further requirements are:
* At least six months of trading history
* A pre-existing online presence (a website)
* Generating at least £/$10k of monthly sales
* Processing +40% of payments online

Why am I not eligible for Uncapped funding or banking?

* If you’re a Sole Proprietor/Trader, then unfortunately you can’t apply for our funding pr banking products as you have to be an incorporated entity 

* If your sales don’t come from online, then unfortunately you’re not eligible for our funding product, as we cater solely for digital businesses

How do I apply for an Uncapped banking account?

Visit our website → Click Open account → Create your profile and click Continue → You will be asked to submit all of your personal information as well as your Business information.

Application Process

What important information is required during the Application process?

During the application process we will collect the following information: 

On an Individual level:

Legal name

Date of Birth

Your address. It cannot be a PO box, and we might require proof of it. This can be an utility bill dated within the last 3 months

Your Government Identification Number. This can be a photo of your passport, driver's license or national ID.

We will also need your social security number

On a Business level:

Legal Entity Name

Taxpayer Identification Number

Physical address 

Information listed for natural persons for each Beneficial Owner and Officer of the legal entity

What documents should I have prepared?

EIN - The list of accepted documents includes: EIN Letter from the IRS; Filed Tax Return.

COI - The list of accepted documents includes: Certificate of Incorporations, Articles of Incorporation, Partnership Agreement, Articles of Organization, Corporate Resolutions, LLC Operating Agreement, Certificate of Assumed Name, Certificate of Formation, Trust Agreement, Organization Documents.

ID - National ID card, Driving License, Government-issued ID card

AV - The list of accepted documents includes: Utility Bill, Bank Statement, Lease Agreement, Pay Stub, Insurance Bill/Statement, Driver’s License (unexpired),Incorporation Documents (for businesses), EIN Letter (For businesses).

NB! For Utility Bills, Bank Statements and Pay Stubs → Must be current within the last 6 months to be considered valid 

For Lease Agreements → Must still be valid.


SSN - The list of accepted documents includes: Filed Tax Return; W-2; Social Security Card.

NB! For Tax return or W-2 → Must be current within  last 2 years to be considered valid


Passport Must not be expired, with clearly visible country of issuance, date of issuance, Passport number and expiration date

How do I send in my documents?

Once you complete the application process → You will be asked to join us in the chat → Our next available agent will give you some information about what documents you are required to provide

Using your account

How can I use my account?

An Uncapped account gives you instant access to powerful banking tools tailored for growing ecommerce business 

Use it to  control your business finances all in one place. From unlocking your sales revenue with Instant Payouts, to automating bills to making payments at great rates, Uncapped meets all your business needs. 

You can access your Uncapped account through a computer, laptop, tablet or smartphone.

How can I add funds to my account?

You can add funds to your account by going to Payments → from the top of the page click on Add Money → Choose the most suitable method from the drop down menu, that includes: 

  • Unlocked cash from Instant Payouts
  • Manual bank transfer
  • Linked bank transfer from your main bank account through our partnership system

Accessing funds

How can I use my funds?

You can spend the funds in your account on anything you like, whether marketing or personal expenses. That includes bank transfers/wires, both incoming and outgoing, to/from other businesses or individuals, and Virtual & Physical card payments.

Are my funds safeguarded?

Yes, your funds are safeguarded 24/7 by Enterprise Security and FDIC Insurance for up to $250,000

Where are my funds kept?

Your funds are held at Blue Ridge Bank N.A. Banking services are provided by Bridge's and Unit’s bank partner, Blue Ridge Bank N.A, a member of the  FDIC. The Bridge Visa® Debit Card is issued by Blue Ridge Bank N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

How can I generate a Statement?

We may currently provide you with monthly statements of your transactions in your account. You can generate them at your convenience from Accounts → (at the bottom-middle) View Statements → Select & download!

Physical and Virtual Cards

How many cards can I order?

You are eligible to order one Virtual and one Physical card per customer in the account. If you wish to give another team member a Virtual/Physical card, please contact us by joining us in the chat or email us at hello@weareuncapped.com

How do I Activate my card?

You can activate your Physical card by logging in your account → Cards → Click on “Activate” → Verify the process via 2FA(Two-factor Authentication) by confirming the SMS code from your mobile phone → Input your card’s expiry date and CVV(3-digit number) → Setup your PIN code → YOUR CARD IS ACTIVATED! AWESOME

Lost, stolen or damaged card?

Please contact us by starting a chat with us or send us an email at hello@weareuncapped.com

You can also call VISA directly on 1-800-847-2911

Frozen card?

You can freeze/unfreeze your card by logging into your account → Cards → Select your card → Freeze/Unfreeze card (from the options in the middle)

How can I use my card?

You can purchase any products or services of your choice as long as you have enough available balance in your account.

What are my limits?

All applicable limits and fees can be located in the Business Account Agreement under sections 3.1, 3.2, 3.6, and 3.15.

Why has my payment failed?

The most often reasons for your card payment to not go through are:
- not enough available balance
 - incorrect PIN code
- Pre-authorization - some merchants, such as hotels and gas stations, block a specific amount (up to 150 or 200$) within a timeframe of 7 up to 14 days even if the bill is for a lower amount. Once the merchant settles the exact payment amount, the remaining difference from the blocked amount is returned to your bank account automatically

 - The POS could be faulty
- The card must be used via Chip and PIN method after too many Contactless payments in a row (? to be confirmed tomorrow)

If you are not certain of the exact reason why your card payment did not go through, please contact us by joining us in the chat or email us at hello@weareuncapped.com

For full information, please visit our Business Account Agreement.

Where are the full terms?

For full information, please visit our Business Account Agreement

Instant Revenue

Do I qualify for Instant Revenue?

For US customers: To qualify for instant revenue, your company must be incorporated in the US, sell on Amazon, Stripe, or PayPal with at least 1 month of operating history and at least $500 in monthly net sales volume.
To get instant revenue, you’ll also need to route your platform revenue into an Uncapped account.

For EU/UK customers: We are currently working on offering this to you- stay tuned!

How long does it take to receive the revenue / is it instant?

Every morning, we check your sales revenue from the previous day and pay it out before 8AM EST. Once we pay it out, it’s available instantly in your Uncapped account.

Is there a fee for this service?

No, our Instant Revenue service is completely free.

In which ways can I spend the funds?

You can spend it however you like:

  • Make payments with your Uncapped card (virtual or physical)
  • Pay suppliers directly through our bill payment tool
  • Withdraw cash at an ATM
  • Send ACH transfers

How much of my revenue will you advance?

We advance 85% of the sales revenue for all completed sales from the previous day. We consider completed sales to be for which your payment provider has charged a buyer’s payment method, and we receive this data directly from your payment provider.

What is my limit?

Your limit depends on your average monthly revenue and is provided to you before you sign up for Instant Revenue.  Reach out to us via chat, email or phone if you are unsure.

Do you offer cashback?

We are exploring cashback rewards, and will notify you when we have any news to share.

 

How do you collect advanced funds?

Once you have set Uncapped as your default bank account for your payment provider, you will start receiving disbursements into your Uncapped account. We then regularly check if your payment provider has disbursed your revenue yet. Once they finally disburse your funds into your Uncapped account, we debit your account for the amount that we have previously advanced. Note that this does not interrupt your daily payout for your prior day revenue.

For example, if we have advanced $300 to you over the past few days and you finally receive $150 from Amazon/Stripe/Paypal/etc, we will collect the $150. If you also made $50 the day before, we will credit your account with 85% of the $50, so $42.5.

How can I turn off this service?

Yes, you can turn off Instant Revenue, you just need to send us an email or reach out via chat.

What happens if I close my Uncapped account?

If you wish to close your account while still owing funds for Instant Revenue, the full owed amount will become due immediately.

Ready to scale faster?

© Uncapped Ltd.