With our Online Payments feature, your clients’ credit card payments will be deposited into your bank account in the form of a payout. Payouts are what we call the bank deposits that are sent to your bank account on file at Settings > Billing and Services > Online Payments.
In this guide, we’ll cover:
Choosing a payout schedule
Once your Online Payments account is fully set up and verified by our Risk team, you can choose the payout schedule you want your payouts to follow. To do this:
- Navigate to Settings > Billing and Services > Online Payments
- Click Change Payout schedule
- Use the dropdown menu(s) to select a schedule
- Click Save Changes
U.S. customers will have a daily payout schedule established by default. With this payout schedule, your available account balance will be paid out daily containing payments processed two business days prior. This is how long it takes for your pending account balance to become available. For example, any client payments made on a Tuesday are paid out on Thursday, and any client payments made on a Friday are paid out on Tuesday. Here’s a visual of how this payout schedule works:
Saturday and Sunday payments
Note: Payouts are delayed on weekends and federal holidays. American banks are closed on the following holidays: New Year’s Day, Martin Luther King, Jr. 's Birthday, Presidents' Day, Memorial Day, Independence Day, Labor Day, Indigenous Peoples'/Columbus Day, Veterans' Day, Thanksgiving Day, and Christmas Day.
Important: For customers in Canada, processing payments and refunds follow the same steps as U.S. accounts. However, your payout schedule will follow a different timeline. You can still set your payout schedule to deliver payments daily; however, your payouts will include transactions from 7 calendar days prior. For example, a payout received on a Friday will include transactions from the previous Friday.
Another option that you have is to set your payouts to arrive weekly. With a weekly payout schedule, you get to choose which weekday you'd like to receive payouts on. While this payout schedule includes 7 days of transactions, it’s important to keep in mind that weekly payouts still require two business days to be processed into your bank account. For a visual of how this payout schedule works:
Weekly Monday payouts
Weekly Tuesday payouts
Weekly Wednesday payouts
Weekly Thursday payouts
Weekly Friday payouts
Note: Weekly payouts can only be scheduled to arrive Monday - Friday. Payouts are unable to arrive on weekends since they only process on business days.
Another option that you have is to set your payouts to arrive monthly. With this payout schedule, you get to choose which day of the month you’d like to receive payouts on. While this payout schedule will include a month’s worth of transactions, it’s important to keep in mind that this payout schedule also requires two business days to be processed into your bank account. For a visual of how this payout schedule works:
Monthly payouts on the 31st in months with 31 days
In the event that you schedule your payouts to arrive on the 31st of each month, your payout schedule will look a little different during months with less than 31 days. For shorter months, the payouts arrive on the last day of the month.
Monthly payouts on the 31st in months with 30 days or less
Note: If you have any questions regarding your payout schedule or the amount you received in a payout, please submit a help request so that our Billing and Payments team can assist you further.