Use Case: Withdraw From Your Available Balance

Owned by Miles Graves
Last updated: Apr 11, 2024
4 min read

You’ll generate revenue from customer transactions, fees, profit shares, and billing configurations, which you can withdraw from your balance at any time by scheduling a withdrawal in the Portal. This tutorial will walk you through the steps to schedule a one-time or recurring withdrawal.

Partial view of the Withdrawals page, including the Withdrawals Banner and Withdrawal Schedules section.

Objective

Schedule a one-time or recurring withdrawal from your Portal account to disburse funds to your bank account.

Audience

  • Facilitators

  • Referrers

  • Merchants

Environment

  • Portal (Sandbox)

  • Portal (Production)

Prerequisites

Prerequisites:

  • You must have a fully boarded Payrix account to perform any of the actions described in the use case guides.

  • Your account must be in good standing, and linked to a bank account that can accept deposits.

Warnings

Warnings will provide insight or advice to avoid risk, visibility, and product performance issues during this use case.

Warning: For Merchants and Referrers, your parent entity (Referrer or Facilitator) may set a limit on the amount you can withdraw per day. If you are unsure about your maximum daily withdrawal limit, contact your parent entity.

Tips

Tips will provide suggestions to streamline or better prepare you to apply this use case tutorial.

Additional Resources

See the following references to help you get started:

Schedule a Withdrawal From Your Available Balance

1. Open the Withdrawals Page

Navigate to the Withdrawals page by clicking WITHDRAWALS under the Admin category in the left hand navigation panel.

2. Schedule a New Withdrawal

  • Step 1: Scroll down the the Schedule Withdrawal section, and click the SCHEDULE WITHDRAWAL button to open the Create a Scheduled Withdrawal lightbox in the page.

  • Step 2: Choose the withdrawal frequency by clicking the drop down arrow to the right of the How Often Would You Like to Withdraw section.

    • Select ONE TIME from the drop down menu for a single, non-repeating withdrawal.

    • Select Daily, Weekly, Monthly or Annually for recurring withdrawals.

  • Step 3: Click the Amount Type drop down arrow and select PERCENTAGE and enter the amount as a two-decimal float number (e.g. “100.00” for 100%).

  • Step 4: Click the Bank Account to Deposit Withdrawal drop down arrow and select the approved bank account where your funds will be deposited.

  • Step 5 (Optional): Click ADVANCED OPTIONS to display additional setup options in the lightbox, including start date, currency, or billing statement descriptor.

  • Step 6 (Optional): To create a withdrawal from a listed bank account to your available balance in the same amount you’ve configured, click the DEBIT box in the Advanced Options section in Step 5.

  • Step 7 (Optional): To initiate the withdrawal disbursement for the same business day, click the SAME DAY box in the Advanced Options section in Step 5, that may incur an additional fee (check with your payment processor or issuer).

  • Step 8: Click the CREATE WITHDRAWAL button to create the withdrawal.

Result: The upcoming withdrawal is displayed in the Withdrawal Schedules table on the Withdrawals page.

Next Steps

Once the withdrawal is scheduled, review the following use case guides for additional information on related topics:

Conclusion

Once the withdrawal is scheduled, it will appear in the Withdrawal Schedules table on the Withdrawals page. After the scheduled withdrawal occurs, the funds will be released to the selected bank account and the withdrawal will appear in the Withdrawal History table at the bottom of the Withdrawals page.

References