Payout Schedule
Payouts are handled by Stripe, not GoPrep. By default, Stripe processes payouts on a daily rolling basis, but you can change this to weekly automatic, monthly automatic, or manual payouts. This is known as the payout schedule, which you control along with GoPrep.
However, the payout schedule doesn’t determine how long it takes for your pending balance to become available. It simply refers to when your funds will be paid out once they are available.
Payout Speed
Payout speed, on the other hand, refers to the amount of time it takes for your funds to become accessible. This usually takes 2-3 business days but can also depend on your bank and country. Unfortunately, this aspect is outside of GoPrep's control.
For example, if your account is operating on a daily payout schedule with a 3-business-day payout speed, the funds paid out daily would be from 3 business days prior. Check this Stripe article for more information.
In this example, funds will become available after 3 business days (including the day of the transaction), but you will be paid daily if funds are available.
Example:
- Monday: $50 Order A is placed - No payouts
- Tuesday: $60 Order B is placed - No payouts
- Wednesday: $40 Order C is placed - $50 payout from Order A
- Thursday: No order is placed - $60 payout from Order B
- Friday: $55 Order D is placed - $40 payout from Order C
- Saturday: $50 Order E is placed - No payouts
- Sunday: No orders - No payouts
- Monday: $50 Order F is placed - No payouts
- Tuesday: $50 Order G is placed - $55 payout from Order D
- Wednesday: No order is placed - $100 payout from Orders E and F
Keep in mind that there is typically a 7-day waiting period for the first payout. Check this Stripe article for more information.
Don't hesitate to contact GoPrep's Customer Support Team for further assistance.
You can do so by submitting a request or sending an email to help@goprep.com.
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