Disclaimer: The following scenario is purely hypothetical because Wallet by iink is still in development. However, after years of partnering with restoration professionals, public adjusters, and attorneys—and listening to their real-world challenges—we’re excited to give you a glimpse of what our upcoming solution could look like.
Meet Joe. He’s been roofing homes for over a decade, and his phone rings off the hook whenever a storm rips through the county. One morning, Joe gets a call from a property owner, Sarah, who needs her storm-damaged roof replaced. As Joe inspects the property, Sarah also decides to add a few retail upgrades—like new skylights—to brighten up the space.
Because Sarah’s insurance claim involves substantial storm damage, she hires a public adjuster to help maximize her settlement. Joe agrees to wait on some of the funds until the insurance claim is resolved, but he can’t just sit idle—he needs to pay for materials, line up his crew, and start ordering supplies to keep the project on schedule.\
It turns out the insurance settlement is hotly contested. Sarah’s public adjuster recommends bringing an attorney on board to push for a fair payout. Between the adjuster’s fees, attorney involvement, and Sarah’s own deductible, Joe quickly realizes he’ll have multiple parties to pay (and collect from) before this roof is done.
Normally, Joe juggles an array of paper checks. Some are from the insurance company, others from the homeowner, and still others might come from Sarah’s mortgage company if the check is issued jointly. On top of that, peer-to-peer apps aren’t exactly business-friendly and often limit the amounts Joe can accept, so he’s stuck dealing with bank runs and worrying about checks getting lost in the mail.
Here’s where our hypothetical Wallet by iink could step in and make life easier.
Sarah’s insurance carrier issues a multiparty check—one that also needs the mortgage company’s endorsement. In this imagined scenario, Joe uses iink’s Pro Service to handle the endorsement process quickly and securely. Once signed, the check’s funds go straight into Wallet by iink, so Joe doesn’t have to run from bank to bank or worry about the check getting misplaced.
From Sarah’s deductible to the additional skylights she decided to purchase, Joe can send a single request right through Wallet. Sarah pays electronically, and those funds are added to Joe’s Wallet account, ready for distribution. No more shuffling around separate apps or dealing with potential p2p limits.
Meanwhile, the public adjuster and attorney will eventually need their shares too, and Joe can address that directly within Wallet once funds are released—no lost checks, no confusing cross-mails.
Joe still needs roofing materials—shingles, nails, underlayment—often purchased from multiple suppliers. In our hypothetical scenario, Joe pays these vendors right from his Wallet account. More importantly, when his crew finishes an important phase late on a Friday and needs cash by Saturday, Joe can send an instant payment wallet-to-wallet, and the crew lead moves it to their bank account in minutes. No waiting until Monday, no awkward phone calls about missing weekend pay.
Rather than paying monthly fees for invoice management, Joe can handle all these transactions directly in Wallet by iink without extra subscription costs. When it’s time to reconcile his books, he simply adds his Wallet account as though it’s a bank account and reviews the transactions. Everything is in one place, significantly reducing the chance of errors or duplicated entries.
By keeping funds in the iink ecosystem, Joe cuts down on lost checks, back-and-forth payment “tag,” and random delays. He’s able to keep his focus on what really matters: installing quality roofs, pleasing clients, and growing his business.
Years of working alongside contractors like Joe—along with public adjusters and attorneys—have guided our vision. We’re committed to building a solution that tackles these everyday pain points for restoration pros.
In this hypothetical world, Joe the Roofer is happy, his public adjuster and attorney get paid promptly, and Sarah’s beautiful new skylights are just the start of many smooth projects to come.
If you’d like the latest updates about Wallet by iink and how it might streamline your payment process, check out our help center at help.iink.com. Stay tuned for more details on how we plan to make collecting deductibles, settling insurance claims, and paying your team easier, faster, and more cost-effective.