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Payouts on Thrizer are getting a minor upgrade as we fully transition to settlement-based payouts. You will now receive two payouts per week, up from one.
We currently operate on a weekly payout model. Every time you make a charge, the amount from the transaction, minus the Thrizer prcessing fee, gets added to your Thrizer balance.
On early Friday mornings, Thrizer triggers the payout of your full Thrizer balance to your connected bank account. The time that the funds actually settle and post to your bank account varies from 0-1 business days.
We will be keeping the same payout logic and underlying structure, but simply including another day where your Thrizer Balance is transferred to your bank account.
Payouts will now occur on Tuesdays and Fridays. Please refer to the tables below for examples on when a given transaction will be paid out based on what day you make the charge.
For example, if you make a charge on a Saturday, it will be stored in your Thrizer Balance until Tuesday morning, when the payout is issued. The funds will reach your account within 0-1 business days (Tuesday or Wednesday).
Here is another exampletable with actual dates included.
We are fully transitioning to settlement-based payouts over the next few months, which is what processors such as Stripe and Square use to power their payout functionality. In this model, funds become available to you when they settle from the client’s card, rather than on a specific day of the week.
You will have the option to set your payout frequency, with options from daily to monthly, and payouts will automatically route all settled funds in your Thrizer Balance to your bank account based on your selected schedule.
More on this soon!
