Here is where you can find an explanation of Moxie Balance
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What are the limitations of Moxie Balance?
What is Moxie Balance?
Moxie Balance is a business banking solution that allows Medspas (PC+MSO or LLC) to manage a business banking account directly in Moxie Suite. This account will be where your client payments will be deposited a few days after the transaction and should be used as your primary payment method for clinical expenses.
[PC/MSO]
If you are operating in a PC/MSO state, all clinical revenue and costs should run through the PC - the professional entity owned by the medical director. To make this easy, we work with your PC to open a Moxie Balance business bank account for your Medspa. While your PC owns this account, you will have full administrative access directly in Moxie Suite and can see your transaction history, send money for payments or transfers, and issue a virtual credit card.
[LLC}
If you operate your own LLC, we make your business banking easy by opening a Moxie Balance business bank account for your Medspa. You will have full administrative access to this account directly in Moxie Suite and can see your transaction history, send money for payments or transfers, and issue a virtual credit card.
What are the limitations of Moxie balance?
Moxie Balance is a Neo-banking solution provided by Evolve Bank and Trust, which means it doesn't have physical branches. As a result, there are a few things Moxie Balance cannot do like a traditional bank:
- Accept Zelle payments
- Depositing cash
- Depositing checks (coming soon)
Additionally, you can't get a traditional bank statement from Moxie Balance, but you can download your transaction history.
Watch this video to learn about Moxie Balance.