At Bonsai, we are dedicated to simplifying financial management for businesses.
Bonsai Payments and our Bonsai business account are tailored to complement each other, providing an integrated financial solution.
Bonsai business account: your financial command center
Our Bonsai business account 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 the Bonsai business account, your Bonsai Payments payouts will flow directly into this 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.
To access Bonsai's business account, navigate to Financial Management > Banking within your navigation bar.
For more details on how Bonsai's business account works, take a look at our article here.
Instant Payouts: because time is money
Activate instant payouts, and you'll see your funds in your Bonsai business account balance within the hour.
While there is a 1.5% fee, the quick and convenient access to your funds make it a valuable option.
How to activate the Instant Payout schedule
If you're eligible for Instant Payouts and would like to activate it on your account, head over the Financial Management > Payments within your navigation bar.
From here, select the 3 dots in the top righthand corner and select 'Manage Payouts'. Next, update your 'Payout Speed' to 'Instant Payouts':
To learn more about Instant Payments, review our help article here.
Opting out of Bonsai's business account
We understand that our business account 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:
Clear your balance: You can transfer your funds to an external account or utilize them through your Bonsai card.
To transfer your funds, simply navigate to the Banking page and click on the 'Transfer Funds' button:
Ensure there are no pending payouts: Review your account activity to ensure that there are no upcoming or pending payouts from your invoices.
Contact our Support team: Inform our support team of your decision to deactivate your Bonsai business account, and they will assist you with the process. Please note: that the Bonsai business account closure is permanent and irreversible.