In this article, you will learn how to receive payouts from Workiz Pay.
Workiz Pay is a fast, simple, and secure online payments solution that enables you to collect credit card payments from your customers while on the job. Workiz Pay also makes sure you get paid on time — and even ahead of time — by allowing you to request payments on your estimates and invoices. To learn more about Workiz Pay, please see this article.
What is a payout?
In Workiz Pay, a payout is how money gets transferred from your Workiz Pay balance to your business bank account. When you charge your clients using Workiz Pay, the money will first be deposited into your Workiz Pay balance. It will then need to be paid out from your Workiz Pay balance to your business bank account so that you have access to the funds.
When will I receive my payout?
- It will take approximately 7–10 business days for your first payout to be processed.
After the first payout, all future standard payouts will be processed as follows:
Location Bank processing Payout processing Total United States 1–2 business days 2 business days 3–4 business days Canada 1–2 business days 3 business days 4–5 business days
Workiz Pay also offers instant payouts for credit card payments, allowing you to get your funds within 30 minutes of collecting payment. To learn more about instant payouts, please see this article.
It will take approximately 6–8 business days for ACH payments to be processed and paid out.
Please be aware that holiday schedules may affect the standard payout timeline. Generally, holidays will not be counted as business days. For a complete list of holidays, please see the following list:
How to initiate payouts
Payouts are initiated automatically. You do not need to do anything to initiate payouts from your Workiz Pay balance to your business bank account.
Understanding payout statuses
Once your Workiz Pay account has been activated, you will be given access to the Workiz Pay dashboard, where you can view more detailed payout information like the payout amount, arrival date, status, and the payments included in that payout.
- From the sidebar navigation, select Workiz Pay
- Review the information available in the Balance tab
The Balance tab offers some clarity into the status of your money in two different sections: Balance overview and All payouts table.
- Available to pay out to your bank account: The funds in this stage will be generally be deposited into your bank account in 2 business days.
- Day 1: The payout will be listed on your payouts table with a status of In transit.
- Day 2: The payout will be reflected in your bank account.
- Estimated future payouts: It will be 1–2 business days before these funds become available to pay out to your bank account. This often depends on how quickly the cardholder's bank processes and releases the funds.
|Paid||The funds have been finalized and should be reflected in your bank account.|
|In transit||The funds are currently on the way to your bank account. It will be approximately 1 more business day before the funds reach your account.|
|Pending||This status is only relevant to bank transfer (ACH) payments. Funds in this status will remain pending until they are moved to Paid after 4 business days.|
|Failed||The funds failed to transfer. This is often the result of incorrect bank information when signing up for Workiz Pay. Please contact support for more information.|
|Canceled||The payout was canceled. If your payout was canceled, please contact support for more information.|
You can select a payout to expand it and see a breakdown of the individual payments associated with that payout.
How to see where Workiz Pay funds are being paid out to
- From the My account tab on your Workiz Pay dashboard, review the bank account listed under Bank information
Changing your bank account with Workiz Pay will delay your next payout by 7–10 business days. You will still be able to collect payments from clients while we verify your request.