Use Case: Withdraw From Your Available Balance
- Miles Graves
- Ada Li
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 walks you through the steps to schedule a one-time or recurring withdrawal.
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
Warning: For Merchants and Referrers, your parent entity (Referrer or Facilitator) can 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
Additional Resources
See the following references to help you get started:
For more information about withdrawal schedules and disbursements, see Disbursements & Payouts (Withdrawals).
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 navigation panel.
2. Schedule a New Withdrawal
Scroll to the Schedule Withdrawal section, and click SCHEDULE WITHDRAWAL to open the Create a Scheduled Withdrawal lightbox in the page.
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.
Click the Amount Type drop down arrow and select PERCENTAGE and enter the amount as a two-decimal float number (for example, 100.00 for 100%).
Click the Bank Account to Deposit Withdrawal drop-down arrow and select the approved bank account where your funds will be deposited.
(Optional) Click ADVANCED OPTIONS to display additional setup options in the lightbox, including start date, currency, or billing statement descriptor.
(Optional) To create a withdrawal from a listed bank account to your available balance in the same amount you’ve configured, select DEBIT in the Advanced Options section.
(Optional) To initiate the withdrawal disbursement for the same business day, select SAME DAY in the Advanced Options section. Note that this might incur an additional fee (check with your payment processor or issuer).
Click CREATE WITHDRAWAL to create the withdrawal.
Result: The upcoming withdrawal is displayed in the Withdrawal Schedules table on the Withdrawals page.
Next Steps
After scheduling the withdrawal, review the following use case guides for additional information on related topics:
Setup a Multi-Merchant Withdrawal Schedule: Learn how to schedule a withdrawal for multiple merchants.
Set Up a Scheduled Withdrawal Flow for New Merchant Accounts: Learn how to set up a withdrawal flow for a newly boarded Merchant.
Reconciling a Withdrawal Disbursement: Read more about reconciling recurring and one-time disbursements.
Conclusion
After 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.