We currently generate your payout every Tuesday for payments that are eligible for payout by 5 PM on Tuesdays. If you have a payout for the week, these will occur every Tuesday after 5 pm:
You will receive an email from [email protected] containing the amount, beneficiary bank, and beneficiary bank account name.
You will be able to see the payout on your PayMongo Dashboard under Payouts with a pending status.
Once the request for release has been received by our banking partner on Wednesday morning, the status of your payout on your PayMongo Dashboard will change to in transit. Ideally, the transfers should reflect in your bank account within the day on Wednesday. However, due to interbank transfer and clearing processes, it may take 1-2 more banking days for your payout to reflect in your bank account, depending on how fast your bank can process the payout.
Once we have received confirmation from our banking partner within 2-3 banking days after Wednesday, the payout statuses will change on your PayMongo Dashboard:
Deposited - Our banking partner has confirmed that the beneficiary bank accepted the transfer.
Pending - Our banking partner has returned the payout. Please reach out to us via live chat or [email protected].
There are no fees charged in receiving your payout. Also, you don't need to make a request for your payout as this is automatically processed by our team! 🎉
*Note that if your payout is supposed to be released on a holiday, it will be processed on the following business day.
i.e. if Tuesday is a holiday, the payouts will be processed on Wednesday.