Congratulations, you got paid! 💸 💸
Now, you're asking yourself 'When will I get my money?!'
The process of actually receiving the payment from your client and into your bank account is called a Payout and the wait time between receiving a Payment and receiving your Payout is called the Payout Schedule.
There are 4 different Payout Schedules for Bonsai Payments, depending on your payment history with Bonsai Payments. Those are: First Payout, Limited Payouts, Standard Payouts, Instant Payouts.
Your first payment will take 5-10 Business Days to process and deposit to your account. This is because it takes longer on the backend to fully setup and verify the account details.
👉 Note: This payout schedule will be the same for all users, regardless of geographical location or length of time using Bonsai. Unfortunately this is something mandated by our payment processor and not something Bonsai controls.
Following your First Payout, you will be automatically moved to a Limited Payout Schedule. Limited Payout Schedules are in place for newer accounts to help protect Bonsai and Bonsai's users.
Payments processed on a Limited Payout Schedule will take 10 Business Days to process and deposit.
For risk reduction reasons, your early payments will be kept on a Limited Payout schedule. As your processing history expands with Bonsai, your trust level will also increase and you will soon be moved to a Standard Payout Schedule.
Switching from a Limited to Standard Payout Schedule will happen automatically and will not require any intervention on your part.
👉 Note: This payout schedule will be the same for all users, regardless of geographical location.
Once you've built trust with Bonsai and have established a good history of payment processing, you will be automatically moved to a Standard Payout Schedule.
For Users in USA and Australia: Your Standard Payout Schedule is 2 Business Days.
For Users in Canada and UK: Your Standard Payout Schedule is 5 Business Days.
👉 Note: The listed payout schedules are only relevant to payments made by credit card. ACH Payments will always be deposited on a 7-10 Business Day Schedule regardless of which Payout Schedule you're on.
Coming soon for an additional fee for select users. Available in the US only.
Which Payout Schedule Am I On?
You can see which Payout Schedule you're on by visiting your Payments Page within your Invoices Tab then clicking 'Manage Account' within Bonsai Payments to see more details: