Settle Later, Get More lets you choose when you settle your eligible Cherry payment plans. Every day you wait, your incentive grows at the current 4.6% annual rate. It's free, optional, and you can settle anytime.

‍Is my money safe? Is it FDIC-insured?

‍While Cherry works with banks, Cherry itself is not a bank, but a FinTech. Since Cherry offers no bank accounts, FDIC insurance does not apply. However, we work with banks (Barclays, Cross River Bank, Truist, among others), with whom we maintain committed financing capacity to settle the transactions when you request it.

‍How is the incentive calculated? Does it compound?

‍Your incentive builds daily at the current 4.6% annual rate, on the full amount you'd normally be paid for each transaction you choose to settle later. It's simple, not compounding. Settle $10,000 after 3 months and you'd receive about $115 on top; after 6 months, about $230; after a year, about $460.

If a patient is refunded before you settle, the refund comes out of that transaction and no incentive applies to the refunded portion.

‍When do I get the incentive?

‍With your settlement. When you settle a transaction, the full amount plus the incentive goes to your bank account on file in a single payment.

‍How fast do I get paid when I settle? Are there fees?

‍Usually within 1–3 business days, the same as a regular payout, whether you settle after a week or a year. There are no fees and no lock-in. You can settle one transaction or several at once from the Settlement page, anytime.

‍Is the 4.6% rate guaranteed?

‍It isn't fixed. 4.6% is the current rate and may change from time to time. We intend to keep it competitive, and since there's no lock-in, you can settle whenever you like.

‍How do I sign up? Can I turn it off?

‍A Super Admin can enroll from Funding Settings in the Cherry portal: choose Settle Later, Get More and accept the Program Terms. You can opt out anytime, and anything already set to settle later keeps building its incentive until you settle it. Nothing changes for your patients.

Full details are in the Flexible Settlement Program Terms.