Minimum balance: What is it? How do I set it up?
The minimum balance feature diverts card payments you take within Housecall Pro into your HCP Money account. Diverting some of your payments that would normally be sent to your regular bank account keeps your HCP Money account balance at a target minimum amount that you set.
Using a minimum balance makes it easy to maintain sufficient funds without having to manually transfer money from a bank account into your HCP Money account. When your balance is below the amount you have set, we will automatically reload your available balance by sending money from your card payouts into your HCP Money account.
To set your minimum balance:
Go to My Money in the top navigation bar
Click HCP Money in the left-hand navigation bar
Click the Add Funds button from any page in the Expense Card interface, or visit the Funding page in the left navigation menu under Expense Cards
Beneath Where would you like to add funds from? select Set up a minimum balance using HCP credit card payments
Enter your desired minimum balance limit and click Set balance and then confirm your settings
You’re all set - we will send your credit card payments to your HCP Money Account until your minimum balance has been reached, at which point all credit card payments will be sent to the external bank account they’re regularly sent to.
If the HCP Money balance is below the minimum balance you set it to, and you receive a credit card payment larger than that difference, we will “split” the credit card payment such that your minimum balance is reached, and all excess funds from the credit card payment are sent to your regular bank account.
To edit or turn off your current minimum balance:
Go to My Money in the top navigation bar
Click HCP Money in the left-hand navigation bar
Click Funding in the left-hand navigation bar
Click the pencil icon next to the minimum balance line
When prompted by the dialog, you can either delete the minimum balance by pressing Delete or edit it by changing the amount set as the minimum
Confirm your selection. The Funding page should now reflect your new or canceled recurring transfer
ⓘ Need some extra help setting up funding? Click the button below and we'll show you step by step!