Use Case: Set Up a Scheduled Withdrawal Flow for New Merchant Accounts

Owned by Miles Graves
Feb 09, 2024
3 min read

You can automatically add a recurring withdrawal of funds when creating or boarding a new Merchant account by setting up a withdrawal flow. This tutorial will walk you through the steps to schedule a withdrawal flow associated with one of your groups, so that all new Merchants added to that group will automatically receive the same withdrawal schedule.

Partial view of the Withdrawal Flows tab in the Group Profile page.

Objective

Schedule a withdrawal flow for a new Merchant account.

Audience

  • Facilitators

  • Referrers

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.

Warnings

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

Warning: This process only applies to new Merchants as they are boarded to the Payrix platform. For Merchants that are already boarded, you can create an individual custom Withdrawal Schedule. See the Withdraw from Your Available Balance use case for more information.

Tips

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

Additional Resources

Set Up a Scheduled Withdrawal Flow

1. Access or Create the Group Profile

To access an existing group, follow the steps below:

  • Step 1: Click GROUPS under Management in the left-hand navigation panel, then find the group name in the Groups table.

  • Step 2: Click any information for the group to open the Group Profile page.

To create a new group, follow the steps below:

  • Step 1: Click GROUPS under Management in the left-hand navigation panel to open the Groups page.

  • Step 2: Click the ADD GROUP button in the upper right-hand corner of the page to open the Add Groups section at the top of the page.

  • Step 3: Enter the name of the new group, then click CREATE GROUP. The new group will appear in the Groups Table on the page.

  • Step 4: Click on the new group in the table to open the Group Profile page. Note that you may need to customize other group parameters before creating a new withdrawal flow.

2. Create a New Withdrawal Flow

  • Step 1: Click the Withdrawal Flows tab on the left-hand side of the Group Profile page. Click the ADD WITHDRAWAL FLOW button to open the Add a Withdrawal Flow lightbox on the page.

  • Step 2: Enter a numerical value in the Repeat Every box to indicate the withdrawal frequency, then select the recurring interval from the drop-down menu to the right of the box. Choose from days, weeks, months, or years.

  • Step 3: Click the Type drop-down menu and select the type of withdrawal. Choose from a Percentage, Actual, or Negative Percentage (a dollar amount).

  • Step 4: Enter the amount as a two-decimal number (e.g. “26.00” for 26% or $26).

  • Step 5: Click the Trigger drop-down menu and select CREATE (for new Merchant accounts) or BOARD (for new Merchants fully approved and boarded on the platform).

  • Step 6 (Optional): Uncheck the SKIP WEEKENDS/HOLIDAYS to allow the withdrawal to occur during non-banking hours.

  • Step 7 (Optional): Check the DEBIT box to create a withdrawal FROM a listed bank account to your available balance in the same amount you’ve configured.

  • Step 8: Click the ADD button to complete the process.

Result: After completing these steps, your account will automatically assign a Merchant to a withdrawal flow when boarded or created and added to a group with the withdrawal flow configuration setup.

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

Click the links or items below to access any of the following pages: