[Account Owner] Payment Processing and Payout Times
Payment Processing Times
Credit/Debit Cards
Credit/debit cards process immediately, so you know right away if the payment succeeded or failed. It takes 1-3 business days to receive a payout from a client's credit or debit card payment.
If a charge is made on the weekend, the payout transfer begins on the following Monday. (Bank holidays can delay payouts by one business day.)
ACH
ACH payments will take around 5-10 business days from the time your client makes their payment until the time you receive your payout! 🎉 (Note: Bank holidays can delay payouts by one business day.)
📍 How to see what payment method your client used for ACH and Credit/Debit Card transactions
Payout Tips for Credit/Debit Card and ACH Payments! 1. Once a payment has successfully processed, you don't need to do anything to "push" it into your bank account. Payouts are made on a daily rolling basis; Stripe, our underlying payment processor, will automatically deposit your money into your bank account on file when it arrives!
2. Stripe sends one payout to your account each day. Each payout can be comprised of multiple client payments.
The payout will appear as one lump sum deposit and is set to appear as "AdvicePay" on your bank statement. (That said, all banks don't always honor this descriptor -- therefore, you may find your deposits appear to come from "Stripe" instead.)
Checks
Once a check has been deposited, started processing, and payout information is received from our the banking institution, it will display under Transfers > Checks > Upcoming Payouts. It takes around 4 business days to receive a payout from a check payment.
If a check deposit is made on the weekend, the payout transfer begins on the following Monday. (Bank holidays can delay payouts by one business day.)
Tracking your money
View the status of the invoice under Invoices or Subscriptions in your sidebar! By clicking View Details for a payment, you can verify its Paid and Arrival status as well as its Transfer Status (In Transit or Transferred).
What Do These Statuses Mean?
You'll see a Clearing status on invoices that a client has recently paid via ACH! This status reflects that it takes approximately 5-10 business days for ACH payments to settle at the client's bank and for you to receive your payout, during which point it's possible that they fail due to insufficient funds, incorrect account number, etc. Instead of immediately marking the status as "Paid" after the charge is made, we mark it as "Clearing" to show that the charge has been made and it's still officially processing at the bank. Once it's successful, it will update to Paid and begin the process of transferring to your bank account. 🙂
You'll see a Processing status on subscription invoices that have been activated successfully, but the first due date is in the future. Once the invoice auto-processes on the subscription invoice due date, the status will change to either Clearing or Paid.
You can also view important items such as estimated arrival dates, pending and completed payouts, as well as the specific client payments + transaction fees associated with them, when you go to Transfers in your sidebar.
Transfers are viewable by the Account Owner and Admin/Analyst users.