Enabling instant payouts for card payments

  • Updated

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. Instant payouts are limited to $9,999 per transaction, with a daily (24-hour) limit of $15,000 per account.

Bulk payments made through the client portal will be processed as standard payouts.  

Instant payouts eligibility

To be eligible for instant payouts with Workiz Pay, ensure that you meet the following criteria:

  • Your business is based in the US
  • You have an active Workiz Pay account
  • You have completed at least 10 card transactions using Workiz Pay
  • You have processed at least $10,000 in card transactions using Workiz Pay

How to enable instant payouts

The steps you need to take in order to enable instant payouts will vary depending on whether or not your bank supports instant payouts. To see if your bank supports instant payouts, please see this article.

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  • If your bank supports instant payouts, you can activate the feature using the bank account you have linked to your Workiz Pay account. 

    1. From the sidebar navigation, select Workiz Pay
    2. Select the My account tab
    3. Under Instant CC payouts, select Get instant payouts
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    4. Enter your Workiz account password
    5. Check the box to verify you understand the terms and conditions
    6. Select Activate instant payouts
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      Are you being asked to connect a debit card? Your bank may not support instant payouts.

      For help with connecting your debit card, please see the instructions for unsupported banks.

  • If your bank does not support instant payouts, you may still be able to enable instant payouts by connecting a supported debit card. To see if your debit card supports instant payouts, please see this article.

    1. From the sidebar navigation, select Workiz Pay

    2. From the Workiz Pay dashboard, select the My account tab

    3. Under Instant CC payouts, select Connect debit card
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    4. Enter your Workiz account password
    5. Connect your debit card:
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      1. Name on card: Enter the cardholder name

      2. Card number: Enter the card number

      3. Expires on: Enter the card expiration date

      4. CVC: Enter the card security number

      5. Check the box to verify you understand the terms and conditions

      6. 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.

Please be aware that processing refunds — either manually or automatically as part of a dispute — may temporarily disrupt your instant payouts schedule. Refunds may temporarily place your funds on a standard payout timeline.  

Instant payouts are typically restored approximately 3–5 business days after issuing the refund.

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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