About Payouts
How and when your merchants about receive their processing income is a critical component to setting the correct expectations.
The Platform provides the means for you to customize your merchants’ Withdrawal Schedule based on their business needs and on their settled transaction activity.
In order for your clients to receive payouts to their bank account, they must have an active Withdrawal Schedule created. Otherwise, any processing income will remain in their Payrix Available Balance and will not be sent to their bank account.
Payout Processing Timeline
Depending on your platform’s agreement with the Payrix Underwriting team, new Merchants may be subject to a 3-7 business day initial funding delay when added to Payrix. During this period, all scheduled withdrawals will remain pending for additional review, and any payout requested during this timeframe will be sent all at once, after the initial delay period has passed.
To understand the timeline from when a payment takes place until a Merchant will receive the funds in their bank account, it’s first important to understand both the transaction processing cycle and the withdrawal/funding processing cycle so you know when to expect your client’s money to hit their bank account.
Generally, the money from a card payment will be available in the Merchant’s Available Balance (i.e. in their Payrix account) on the day after it is Approved. If they are utilizing a 100% daily Withdrawal Schedule, it will be in their bank account later that same evening or on the next business day after it hits their Available Balance (i.e. between 1.5 - 2 business days from when the payment is Approved the funds are in the Merchant’s bank account).
The eCheck funding timeline varies depending on the payer’s bank, but generally, a Merchant can expect the funds associated with an eCheck to be in their Payrix account 3-5 business days after it is submitted and Approved. If they are utilizing a 100% daily Withdrawal Schedule, it will be in their bank account later that same evening or on the next business day after it hits their Available Balance (i.e. 4.5 - 7 business days from when an eCheck is Approved until the funds hit the Merchant’s bank account).
Because we offer a variety of custom withdrawal options, these timelines may vary depending on the Merchant’s account configuration. We suggest you visit the funding section for more detailed timelines and payout configuration options.