Under the finance tab, you will find the ‘Payouts' page.
Finance > Payouts
The payouts page provides you with an overview of money that has been paid out 'paid', is pending, in transit, or has failed. In the image below, you are able to see the totals under each heading. Then underneath is demonstrates the total break of your transaction fees inclusive of their arrival date in your account.
Please note: All payouts are processed daily.
Below is an example of the payment timeframes for both a Direct Debit and a Card Payment.
Why is there a difference between the Direct Debit and Card Payment process steps?
Card payments are authorised by the bank immediately and are available to be paid much quicker than Direct Debits. Whereas, Direct Debits work on a 3 day payment cycle. This means that once a Direct Debit run has started, it takes 3 working days to be deducted from the account.
What is the benefit of Direct Debits in comparison to Card Payments?
Direct Debits are automatic so the parent does not need to worry about forgetting to make a payment. They just need to initially set up the Direct Debit and ensure there are sufficient funds within their account.