The Benefit of Teamworks Wallet
For the Student-Athlete
- Collectives can instantly pay athletes with zero processing fees
- Automatically report transactions for compliance & taxes
- No minimum deposits or monthly fees
- Set aside a portion of NIL earnings into a tax account
- Simplifies and consolidates payments
For the Athletic Department
- Enhanced student-athlete experience
- Increase recruiting and retention tool
- Easier payments = increased opportunities for NIL deals
- Eliminate reporting NIL disclosure discrepancies
- Consolidate channels for sending payments to streamline reporting
For the Collective
- Instantly pay athletes with zero processing fees
- Transactions are automatically tracked, simplifying reporting
- FDIC pass through insurance
- Easily download statements and bank letters
- Fund an account via check deposit or ACH
Get Support from the Experts
Our team has extensive experience integrating TRAC with existing inventory operations and workflows, making set-up 100% hassle-free. Once up and running, our support team and your Customer Success Manager are available to help, answer questions, and share best practices.
Key Features of Wallet
Quick and No-Fee NIL Payment Processing
When a Wallet account holder (i.e., Collective or athletic department) pays a student-athlete an NIL payment or rev share dollars, the money is:
- Immediately available in the student-athletes Wallet account
- No payment processing fees incurred on the transfer of the money
Easy & Fast Application Process
Student-athletes can activate their account immediately:- Mobile-friendly application
- Launched from within the Influencer app or Influencer Exchange platform
- Most applications approved within 5 seconds
- Available to all student-athletes, including international who have a US address
Receive Payments
There are multiple ways to receive payments in Wallet:- Receive ACH to your account and routing number
- Receive instant payments from other Wallet users
- Deposit checks through mobile
- Wallet sets aside NIL payments for taxes, aiding student-athletes' financial readiness.
Spend with Ease
Once the funds hit the Wallet, spending is simple:- Pay with your virtual debit card connected to Apple Wallet
- Get cash through our ATM network
- Make purchases with a physical card provided by Teamworks Wallet
Secure Spending
Financial services with peace of mind:- Easily log in with Influencer Exchange or Teamworks ID
- Routing and account numbers are connected to an FDIC insured deposit account
Financial Management
Wallet aids student-athletes financial readiness:
- Automatically set aside a percentage of NIL payments in a tax savings account
- Store funds in high-yield interest account, allowing student-athletes money to make money
Maximize Your Student-Athletes' Wallet Share
Total Amount Saved in Fees:
The Flow of NIL Funds Through Wallet
The Power of Integration
- Instant Payments: When a Wallet account holder pays a student-athlete through Influencer Exchange, the money is immediately available in the student-athlete's Wallet account.
- No Processing Fees: Payments sent through Influencer Exchange to Wallet accounts have no payment processing fees.
- Automatic Transaction Tracking: Transactions are automatically tracked, simplifying compliance reporting and tax documentation.
Instant and fee-free payments directly from Teamworks GM to student-athletes with Wallet integration.
Streamline revenue share payments to student-athletes as part of the comprehensive, end-to-end total athlete compensation process.
See Wallet's Impact
Teamworks Wallet Elevates Purdue’s NIL Landscape
Learn why Purdue became one of the first institutions to leverage the power of Teamworks Wallet to streamline NIL payments for student-athletes.
Teamworks Wallet Revolutionizes NIL Payment Processing
Explore how Teamworks Wallet transforms digital banking and delivers value to student-athletes, administrators, collectives and businesses.
Meet Teamworks GM, an Integrated Solution to Manage Athlete Earnings
Teamworks' latest innovation helps athletic departments strategically allocate their funds, including rev share, to attract and retain athletes.