This article explains how employer-sponsored post-tax Forma Card programs are funded through Stripe.
If you're looking for guidance on pre-tax card funding through Unit, check out:
How do I set up the deposit account on Forma Admin?
Not sure whether your program uses Stripe or Unit?
Refer to the Forma Card and Deposit Account Setup article to determine which setup applies to you.
The Forma Card is one of three spending methods available to employees for employer-sponsored (post-tax) benefits. If your organization chooses to offer the Forma Card, here’s what’s required to get started:
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Complete Stripe KYB (Know Your Business) Verification
This step is completed in Forma Admin. Learn more: -
Receive and Pay the Pre-Fund Invoice
Your Forma team will issue a pre-fund invoice to the invoicing contact provided to us during the sales process.
- The required pre-fund amount is 10% of the total annual covered benefit.
- This amount must be remitted via ACH or wire transfer prior to your program launch.
Once your program is live and employees begin using their Forma Card, purchases will draw down from the pre-fund amount. Forma will send a monthly invoice to top up your balance back to the 10% threshold, based on the previous month’s spend. For full details, see: Forma Invoicing: What to Expect and When.