FAQ - XTRM

These are Frequently Asked Questions regarding XTRM

XTRM Content

• What is XTRM?
• How do I Log into XTRM?
• Where can I view XTRM's Help Center / Knowledge Base?
• What are the steps to register (Basic & Advanced Profile) with XTRM?
• How do Advocates Transfer Funds Directly from the App to their Bank Account?
• Why does XTRM need so much compliance info?
• Why do I need a 1099-K from XTRM?
• When will XTRM send my company's 1099-K?
• What is ACH?
• How long do ACH Transfers Take?
• How do I view the status of my ACH Payment?

XTRM

What is XTRM?

XTRM is a powerful global payment platform and embedded API powered by an intelligent digital wallet architecture that allows consumers and companies of all sizes to receive, manage and make any type of global payments. 

XTRM provides 

• multiple mass payment collection
• management and transfer options 
• allows the broadest choice of cash and non-cash global payment options such as 
  • ACH, Wire, VISA Debit Cards, Virtual Visa and over 150 multinational digital gift cards. 

How do I log into XTRM?

In order to log into XTRM, you can access it through the Dashboard by heading to

Where can I view XTRM's Help Center / Knowledge Base?

XTRM has an extensive knowledge base, which covers a lot of questions that may be related to your company's needs; such as Tax Information on 1099's, how to fund your company wallet using ACH Debit, Security & Compliance information, etc.

What are the steps to register (Basic & Advanced Profile) with XTRM?

Please follow the instructions below for your company’s XTRM profile registration:

1. Go to XTRM.com
2. Click 'Log In' then use the reset password function 
3. Once the password is reset and you are logged into the XTRM dashboard, review the left menu.
4. Under Setup, select 'Profile'
5. Select the 'Company (Basic)' tab towards the top center. 
   1. Fill out all fields with a red X icon next to it, these are required.
   2. Before proceeding to the Identity section, scroll to the very bottom and click Update.
   3. Return to the Company (Basic) tab and begin linking Bank and Bank card.
   4. Once the identity portal is completed, your progress bar at the top should read 100%. 
   5. If it does not, return to the basic tab and search for missing fields.
6. Select the 'Company (Advanced)' tab towards the top center. 
   1. Most of the data already entered will be carried over, scroll down and fill in any remaining required fields that show a red asterisk.
7. Click 'Finish and Submit'

For more information regarding setting up XTRM, Click Here

How do Advocates Transfer Funds Directly from the App to their Bank Account?

If the Advocate wishes to transfer funds directly to their bank account:

1.) Advocate logs into the App
2.) tap on 'Advocator Wallet' Button
3.) Type in password (for security purposes)
4.) Tap the Link Bank button (Big Blue Button on the top left of screen)
5.) Fill in Necessary Banking Information (all fields marked with *)
6.) Tap 'create recipient' at the bottom of the screen

The Advocate's bank account should now be linked and available to transfer funds to

Why does XTRM need so much compliance info?

Whereas domestic insurance and banking have much lower risks with different regulatory requirements for approval, XTRM is a global payment company and FX company.

When you open an XTRM account you are technically opening access to 65 global bank accounts, 35 free global payments rails, 150 global FX rates. As a result, XTRM must follow the vetting and compliance procedures required of their bank partners. This protects XTRM and its stakeholders from fraudulent behavior like embezzlement, money laundering, etc,. We simply facilitate interaction with XTRM to guide your onboarding experience and get you approved faster. 

In addition, XTRM handles the 1099 process, where they need all your data.

For more information on the Global Tax Management Overview by XTRM, Click Here 

Why do I need a 1099-K from XTRM?

A 1099-K is considered a digital payment / electronic transfer . With a digital payment your company does not have to collect w-9's from advocates.

For more information, visit XTRM's article https://xtrmsupport.xtrm.com/en/support/solutions/articles/4000165361-tax001-xtrm-global-tax-management-overview

When will XTRM send my company's 1099k?

XTRM will make available an online downloadable 1099-K plus a downloadable file of all the contributing transactions on Jan 1 of the following year.

You should then submit your 1099-K with your tax return in the usual manner. Please note you do not need to submit paperwork to XTRM, such as an I9.

What is ACH?

Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit, payroll and vendor payments. 

*Important: The only way to set up the Wallet is through ACH Fund.

There are options such as LV Transfers, but the alternative options won’t be approved. If LV Transfer was accidentally selected, delete the LV Transfer and set up ACH Funding.

How long do ACH Transfers Take?

Transfers usually take 1-7 business days to fund your wallet.

*Important: ACH does not transact funds on either weekends or holidays. This will result in delayed deposits if transferred on those days.

How do I view the Status of my ACH Payment?