Overview
Eligible shops can now receive payouts in as little as 30 minutes for a 1.5% fee — any day, any time — to keep business moving, even on weekends and holidays.
How It Works
What's the difference between Instant and Standard Payouts?
Instant Payouts allow you to transfer funds to an eligible debit card or bank account within minutes of a transaction for a fee of 1.5%. Funds paid out instantly to a bank account or debit card will appear in the associated bank account within 30 minutes.
Any funds not accessed through Instant Payouts continue to be paid out according to your default payout schedule at no additional cost.
Who is eligible?
You may be eligible for instant payouts based on factors like your transaction volume and account history with Stripe. Eligibility may be adjusted dynamically based on account behavior and risk signals, even if you’ve used instant payouts successfully in the past.
What's the availability for Instant Payouts?
When eligible, you can request an Instant Payout any day or time, including weekends and holidays, and funds typically arrive in the associated bank account within 30 minutes.
How to initiate an Instant Payout
Note: Only shop owners or administrators who have access to the underlying Stripe account that was used to configure the banking information can initiate an instant payout.
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From the left navigation, click on the Payments tab, and then click on the Payouts table.
2. Click on the blue Pay out button in the top right corner of the Payouts table. If you have a balance eligible for instant payout, you will see an Instant pay out option highlighted with a blue radio button.
3. If needed, adjust the desired amount for instant payout and click the blue Pay out button at the bottom of the screen. Note, the associated instant payout fee will update real time if adjusting the desired amount.
Reconciling Transactions
Since an instant payout is a manual payout, it is not possible to see the transactions breakdown in reports like you can with a standard payout, since there is no explicit connection between charges and the amount decided upon to be paid out. As the shop owner/admin, you are responsible for reconciling instant payouts against your payment history.
Have a Question?
If you have a question about Instant Payouts, you can contact Tekmetric Payments at 832-930-9400 option 4 for Tekmetric Payments then option 2 for Tekmetric Payments Support, or email at tps@tekmetric.com.