If a payout hasn’t arrived according to its expected delivery date, there can be several reasons why. Listed below are the most common reasons as to why your payout was held:
1. Account verification issues
If your payout date keeps getting pushed out to a future date, this is most likely due to account verification issues. In cases like this, representatives of PayMongo reach out to you directly via email explaining why the payout was held back.
2. Understanding the payout schedule
Our cut-off for payout clearing is every Tuesday. So if your payments are cleared by Tuesday (our next cut-off), you'll receive them as part of the Wednesday payout. All transactions paid in the last 7 days.
3. Being processed by the bank
We currently generate your payout every Tuesday and send it to our banking partner for processing the following day, the transfer of payouts would have already been initiated. In this case, the reflection will depend on your receiving bank’s schedule. Although this is often reflected in your bank account within the day, there are cases where your bank will take 1-2 days to process the transfer.
4. Incorrect bank account details
In cases that the transfer of your payout fails, a representative of PayMongo will reach out to you directly via email informing you to update your bank account details. You may head over to the Settings tab of your dashboard and change your “Bank Information”.