In this article, you will learn how to enable instant payouts for card payments with Workiz Pay.
By default, Workiz Pay payouts for card payments will be deposited into your bank account in 3–4 days in the US.
But with instant payouts, you can get your money within 30 minutes of collecting the card payment for a 1% fee in addition to the card processing fees, with a minimum of $0.50 per payout.
Note: Instant payouts are limited to $9,999 per transaction, with a daily (24-hour) limit of $15,000 per account.
How to enable instant payouts
In order to qualify for instant payouts with Workiz Pay, you need will need to have:
An active Workiz Pay account
Completed at least 10 card transactions using Workiz Pay
Processed at least $10,000 in card transactions using Workiz Pay
The steps you need to take in order to enable instant payouts will vary depending on whether or not your bank supports instant payouts.
If your bank supports instant payouts
If your bank supports instant payouts
If your bank supports instant payouts, you can activate the feature using the bank account you have linked to your Workiz Pay account. To see if your bank supports instant payouts, please see this article.
From the sidebar navigation, select Workiz Pay
From the Workiz Pay dashboard, select the My account tab
Under Instant CC payouts, select Get instant payouts
Check the box to verify you understand the terms and conditions
Select Activate instant payouts
If your bank does not support instant payouts
If your bank does not support instant payouts
If your bank does not support instant payouts, you may still be able to enable instant payouts by connecting a supported debit card.
Tip: To see if your debit card supports instant payouts, please see this article.
From the sidebar navigation, select Workiz Pay
From the Workiz Pay dashboard, select the My account tab
Under Instant CC payouts, select Connect debit card
Complete the Connect debit card fields:
Name on card: Enter the cardholder name
Card number: Enter the card number
Expires on: Enter the card expiration date
CVC: Enter the card security number
Check the box to verify you understand the terms and conditions
Select Connect card
What to expect after enabling instant payouts
After connecting your debit card, instant payouts will be enabled for all future card payouts. An instant payout will also be processed for any qualifying funds you may have collected that aren't already scheduled for a standard payout.
If you would like to revert to standard payouts, you will need to disable instant payouts from your Workiz Pay dashboard. You can change the debit card linked to your payouts from the Workiz Pay dashboard as well.
After enabling instant payouts, the payouts section of your Workiz Pay dashboard will feature a new column for Payout type. Here, you will be able to identify your instant payouts, as well as the fees linked to a particular payout. The standard processing fee and instant payout fee will be listed separately.
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