Payouts for all the funds you collected are deposited either monthly or weekly. You can easily change your payout schedule in your Zeffy dashboard.
How often will I receive a payout?
Funds can be deposited in your account either on a weekly (every Monday) or monthly (every first Monday of the month) basis. You can set your preferred payout schedule in your "Settings" > "Bank" > "Payout schedule".
A few other things to note about our payouts:
When funds are received in your Zeffy account, they undergo a mandatory anti-fraud security measure. As a result, there will be a processing period lasting a few days before the funds are released for payout. During this processing time, the funds will show in the "processing" section under "bank" > "payouts."
To ensure that your payout is in your account by Monday morning (or on the 3rd of the month for monthly payouts), it must be initiated a few days before. If you receive payments on a Thursday or Friday, they may not have enough time to be processed and included in the upcoming payout.
What does this mean? When a donor makes a donation, it will typically take a few days for the money to clear, depending on the donor's bank or credit card company. If you are new to Zeffy, please be sure that you have properly connected your bank account to be able to receive payments and payouts.
For more clarity on which funds are available and when, we recommend taking a look at the "payouts" page of your account, where you will see three different amounts.
- "Upcoming payout" refers to the funds that are available for your next bank transfer. The day that your payout is initiated, whatever is listed under "upcoming payout" will be paid out.
- "Transaction processing" refers to the funds that have still not cleared yet. As soon as those funds have been processed, they will move to the "upcoming payouts" section.
- As such, the "total balance" section will be the sum of the upcoming payouts and transaction processing amounts.
For reporting and reconciliation purposes, you can access each of your payout reports under "Bank" > "Payouts". You'll see a list of all your recently deposited payouts, and you can click on one to open the list of all transactions included in it.
How to change your payout schedule
Your payout schedule can also be changed to a weekly payout schedule. When your payout is scheduled to a weekly payout schedule, the available funds will be initiated every Friday, and arrive in your bank account every Monday. To change your payout schedule, please:
- Log into your Zeffy dashboard on a computer.
- Click on "Bank" in the menu bar on the left of the page.
- At the top, righthand corner, click on "Bank Settings".
- Now, under the "Bank" section, click on "Payout schedule"
- Select either a monthly or weekly schedule and press the "Save" button.