Wallet: Digital Banking Built for Student-Athletes

WALLET

Digital Banking Built for Student-Athletes

Teamworks Wallet, a digital banking solution, provides student-athletes with a single account to receive, store, and spend their money.

One Destination for Payments

From receiving payments to auto-saving for taxes, storing funds in high-yield interest accounts, and spending through Apple Wallet with their virtual debit card, it’s never been easier for student-athletes to receive, store, and spend their money. For athletic departments, Collectives, and other stakeholders, Wallet streamlines the NIL and rev share payment and reporting process for all parties involved. FDIC pass-through insurance secures funds, and our no-fee platform maximizes the student-athlete’s wallet share.

FEATURED STORY

Duke and the Durham Devils Club

The Durham Devils Club, the Collective supporting Duke student-athletes, partners with Wallet to empower student-athletes through instant payments, setting them up for long-term financial success.

FEATURED STORY

Purdue and the Boilermaker Alliance

Purdue University is revolutionizing NIL management with Teamworks Wallet, empowering student-athletes to streamline finances, save on fees, and build financial literacy for long-term success.

Popular Features

Quick & No-Fee Payment Processing

When a Wallet account holder, such as a Collective or athletic department, pays a student-athlete, the money is:

Immediately available in the student-athletes’ Wallet account
No payment processing fees are incurred on the transfer of the money

Receive Payments

There are multiple ways to receive payments in Wallet:

Receive ACH and Wire Transfers
Receive instant payments from other Wallet users
Deposit checks through mobile

Easy & Fast Application Process

Student-athletes can quickly start using Wallet:

Mobile-friendly application
Most applications are approved within minutes after completing onboarding
Available to all student-athletes, including international student-athletes who have a US address

Spend with Ease

Once the funds hit the Wallet, spending is simple:

Pay with a virtual debit card connected to Apple Wallet and Google Wallet
Get cash through our ATM network
Make purchases with a physical card provided by Teamworks Wallet

Secure Spending

Accounts are protected with pass-through FDIC insurance.

Easily log in with Influencer or Teamworks ID
Accounts are protected with pass-through FDIC insurance

Financial Management

Wallet helps student-athletes better manage their money:

Automatically set aside a percentage of NIL and rev share payments into a dedicated account for tax season preparation
Secure funds in a high-yield account that offers 4x the national average APY, maximizing growth over time

Streamline International Student-Athlete Payments

We partner with Sprintax, a trusted global tax partner, to ensure international student-athletes meet U.S. tax requirements while paying exactly what they owe—nothing more, nothing less. Through our Wallet and Sprintax integration, international student-athletes can receive NIL payments and manage tax withholdings seamlessly, eliminating compliance barriers.

Eliminates over-withholding through proper tax documentation, preventing the default 30% withholding rate.
Automates tax documentation, from W-8BEN forms to year-end tax statements.
Speeds up payments by ensuring tax documentation is complete from the start.

Maximize Your Student Athletes’ Wallet Share

Transaction, account, and processing fees eat away at your student-athletes’ earnings. Teamworks Wallet provides a fee-free platform to ensure they get every cent they deserve. Use the calculator below to see how much money Wallet can put back into your student-athletes’ pockets.

Wallet + Teamworks Personnel

Wallet seamlessly integrates with the Teamworks Personnel platform, offering features such as revenue share and NIL payments, no processing fees, and automatic transaction tracking.

The Flow of Funds with Wallet