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Why is my default payout account Bonsai business banking?
Why is my default payout account Bonsai business banking?
Updated over a week ago

At Bonsai, we are dedicated to simplifying the financial management of solopreneurs. Our offerings, Bonsai Payments and Bonsai business banking, are tailored to complement each other, providing an integrated financial solution.

Bonsai business banking: Your financial command center

Bonsai business banking is your business's financial hub. While it's totally up to you whether to activate it, we think you'll love the perks it offers.

Once you activate business banking, your Bonsai Payments payouts will flow directly into your Bonsai account. This isn't just convenient – it's a game-changer. You get to track all your payments and manage your money in one spot. We're talking about nifty tools like 'envelopes' for savvy budgeting and automatic expense categorization for easier tax reporting. Please check this help article for more details on how business banking works.

Instant Payouts: Because time is money

Now, let's talk about Instant Payouts. Activate this, and you'll see your funds in your Bonsai business banking balance instantly. There's a small fee of 1.5% involved, but for the speed and convenience it offers, especially when you need quick access to your dough, it's a no-brainer for many solopreneurs. If you'd like to activate Instant Payouts, go to your Payments section and click "Manage Payouts", then update your Payout Speed to "Instant Payouts". More details in this help article.

Opting out of business banking

We understand that our business banking solution might not suit everyone's needs. If you prefer not to use it as your default for Bonsai Payments, the process to opt out is straightforward:

  1. Clear Your Balance: You can transfer your funds to an external account or utilize them through your Bonsai card.

  2. Contact Our Support Team: Inform our support team of your decision to deactivate business banking, and they will assist you with the process.

We are committed to providing a seamless financial management experience. If you have any inquiries or require assistance, our support team is readily available to help.

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