Joust

What is Joust?

The Joust platform merges invoicing with a merchant account and a FDIC-insured bank account, allowing you to accept all forms of payment directly into your Joust bank account. It also centralizes business finances with an all-inclusive toolkit that boasts features like incorporation to protect against liability and seamless integrations with popular business tools.

Who can use Joust?

Any freelancer, small business owner and entrepreneur can use Joust.

Why should I use Joust?

It's simple: With Joust you get the same benefits and protections as a major corporation. How so?


1. Incorporation provides you with the low tax bracket designated for businesses and protects you against personal liability.


2. You can collect payments directly into your Joust bank account from your clients the moment payment is remitted to you. No delays waiting several business days for the bank to clear the transaction.


3. You can guarantee payment on your invoices. That means if a client is delayed in payment or completely ghosts on you, Joust has you covered - we guarantee your invoices up to $2500.

Where can I use Joust?

During our pilot run, Joust can be used exclusively in the United States.

How long does it take to set up an account?

Account set-up times vary. But we find that most can complete Joust account set-up in under five minutes.

What documents do I need to set up an account?

Although we do not collect any documents, you'll need to answer several questions to confirm your identity and your business' legality.

How much does Joust cost?

Joust services are available to our members. However, we believe that you should have the freedom to set your own membership fee. Pay us what you think is fair and we'll grant you access to every feature in the app. Beyond a membership fee, when your customers pay you with a credit card we add 2.9%. If your customers decide to pay via ACH, also known as a bank transfer, we charge 1% per transaction. If you decide to guarantee payment or instantly fund your invoice, there's an upfront fee that will vary between 1% to 6% per invoice dependent on the risk profile of your customer and your history with Joust.

Is it safe?

It sure is! Joust relies on the most modern encryption and security tools to provide optimal protection to our clients. Online banks are just as safe as traditional institutions and are held to the same standards.


As with most other online bank accounts, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 and are held at nbkc bank, member, FDIC.


For more info about the FDIC click here.

Can I use an existing bank account with Joust?

Yes! You can connect your existing bank account to send and receive payments.

When does Joust launch?

Joust is currently scheduled to launch in November 2018.

Joust Features

What is PayArmour?

PayArmour is our proprietary invoice tool that allows you to send quotes and invoices to anyone, anywhere, and get paid by Joust upfront. You can choose to instantly fund individual invoices upon request, or guarantee receipt of payment within 30 days.


Although PayArmour feels like invoice insurance, it is a form of invoice factoring. With factoring, Joust business users can draw needed funds from Joust. We assume ownership of the receivables and relieve you of the hassle of having to collect from your customers.


How do I get covered?

  • Sign up for a Joust account
  • Link your Bank or upload 3 months most recent bank statements
  • Make sure your invoice is related to a commercial transaction (we don't support personal payments)
  • Successfully process 2+ transactions with Joust of at least $500 in aggregate
  • Send an invoice with PayArmour

How much does Joust cover?

  • We provide a 30-day payment guarantee on invoices up to $2500 for a flat fee of 1%
  • We can instantly fund invoices up to $5000 for a flat fee of 6% (making 50% instantly available and the rest when your customer pays)

When can I access the funds?

  • If you selected the instant funding option you can expect your funds instantly.
  • If you selected the invoice guarantee option you can expect your funds on the 30th day.

What if my customer is late or does not pay?

  • The moment you elect to protect your invoice with PayArmour, we reach out to your customers and remind them to pay early.
  • We maintain regular contact with your customers by sending friendly e-mail reminders.
  • In case of your customers' insolvency or bankruptcy, Joust assumes all responsibility over the unpaid portion of the invoice.
  • In the event your customer doesn’t pay the invoice due to a dispute or in cases of fraud, you are responsible for settling your balance with Joust. You can self-pay the invoice directly in the app, or we will enroll you in our installment plan.

How do you manage fraud and default?

  • We manage the risk of default and fraud by using structured analytic techniques, predictive models and good ol' fashioned customer service.
  • In some cases, we may ask for additional information to confirm the business agreement (Statement of Work, Terms and Conditions) and confirmation of delivery of work.

Why do I need to incorporate?

Incorporation protects both your personal and business assets, and provides you with a U.S. Employer Identification Number (EIN) which is helpful at tax time. Find out more about the benefits of incorporation here.

Customer Safety

How does Joust protect my account?

Joust goes to great lengths to protect your account from fraudulent use. Below are some examples of the ways we protect you from online fraud.

Monitoring your account for suspicious transactions

Joust has sophisticated monitoring systems and controls in place to detect fraudulent activity and protect your accounts from misuse.

Irregular account activity alert

If we detect a questionable transaction on your account, we will contact you to verify its legitimacy and may request supporting documentation.

Tokenizing your financial information

We do not store your financial info and instead use encrypted tokens to conduct transactions at authorized locations. Your credit card and bank information is stored in our partner financial institution.

How does identity theft happen?

Identity theft commonly begins with the loss or theft of a wallet or purse. However, there are many other ways that criminals can get and use your personal information in order to commit identity theft. Please read on to familiarize yourself with information that can keep you protected.

What is Phishing?

Phishing (pronounced "fishing") refers to fraudulent communication designed to deceive consumers into divulging personal, financial or account information. Phishing emails continue to be prevalent for individuals and companies. Spoofing well-known companies, these emails ask consumers to reply, or "click" a link to a fraudulent web page that will ask for personal information, such as their credit card number, Social Security number or account password.

What should I do with email greetings?

Always be suspicious of emails that do not greet you by name. While not impossible, it is more difficult and costly for phishers to associate an email address with the email owners name on a mass scale. Because of this, phishing emails most often are addressed generically like "Dear Customer" or "Dear Account Holder."

What should I do with pushy emails?

Phishing e-mails often try to create a false sense of urgency intended to provoke the recipient to take immediate action; for example, phishing e-mails frequently instruct recipients to "validate" or "update" account information or face cancellation. Be very cautious of any e-mail asking you to update sensitive information particularly if it has a generic greeting.

Should I open links in emails?

Nearly every commercial email today contains a "link to a website," or website address (URL). Links are used by business as a convenience for their customers to help them easily find information the customer is looking for. Unfortunately, phisher's also use links to drive customers to "fake" or "spoofed" websites. Look for the warning signs outlined above (generic greetings, sense of urgency). If you are suspicious of the e-mail, do not click on any links contained in it. Instead, go to the website by using your "favorites" if you have it saved, or type the website's URL directly into your browser.

What should you do if you suspect an email phishing attempt?

If you are suspicious of an email you receive, you should forward the email to the legitimate company being impersonated. Today, most financial institutions have an email address where you can forward the suspicious email. If you receive an email claiming to be from Joust that you believe to be suspicious, please forward the email to forward the e-mail to us. We will review the email and take appropriate action.

Any Questions?