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Receiving payouts with Bonsai Payments: timing and process
Receiving payouts with Bonsai Payments: timing and process

Helping you understand everything related to payouts

Updated over a week ago

How long does it take to receive a payout?

Here at Bonsai, we strive to make your payment process as seamless and protected as possible. We've designed a payout schedule that balances security with your need to access funds promptly. Below, you'll find all you need to know about how this works.

Initial payout period: Limited Payout Schedule

The initial payout through Bonsai Payments is subject to a "Limited Payout Schedule," which typically ranges from 7 to 10 business days. This precautionary measure is in place to safeguard against potential risks inherent in credit services. The duration of this schedule is not fixed and may vary based on certain risk assessment factors.

Transition to Standard/Instant Payout Schedules

We understand the importance of accessing your funds swiftly. The progression to a "Standard Payout Schedule," which generally takes 2 to 4 business days, is determined by your tenure with Bonsai and your account's transactional history. As soon as you meet the criteria, our system automatically upgrades your payout frequency.

Instant Payouts would then be unlocked afterwards, after utilizing the Standard Payout schedule. This is something that would be automatically unlocked dependent on your history using Bonsai Payments. More information about Instant Payouts can be found here.

Verification of Payout Accounts

Upon setting up a new payout account, the verification process conducted by our partner Stripe may take a standard duration of up to 2 business days, although this period can extend under certain circumstances.

Clarification on payment totals

Payments that you receive are converted into "payouts" for transfer via ACH or debit card. Your Payments page offers a snapshot of these payouts and their statuses:

Let's take a look at what these amounts mean:

Upcoming payouts

The "Upcoming Payouts" status indicates funds that are queued for payout but are currently pending, which could be due to:

  • ACH payment processing times (it can take 1-3 days before the payment is successfully processed)

  • Stripe's ongoing verification processes.

  • A mandated holding period aligned with your current payout schedule for security reasons.

While most verifications are expedited, depending on the specifics of your payout schedule, it could take up to the full 10-day period before the payout is dispatched to your bank account.

Estimated By (date)

For funds within the "Upcoming Payouts" category that have an assigned "Estimated By (date)" status, we provide a projected date when they are expected to be deposited into your bank account. This estimate is based on standard processing times and our assessment of any pending verifications or procedures that are underway. It serves to offer a clearer forecast of when you may anticipate the arrival of your funds, accounting for the standard variation in processing times.

In Transit To Bank (by date)

Payouts labeled as "In Transit To Bank" are those that have been processed and are on their way to your banking institution. These funds are expected to be credited to your account within a period ranging from 2 to 4 business days.

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