Available Balance
CheqrPay payouts are made automatically on a weekly basis. Typically, the organization’s available balance on a Monday will be queued for transfer and arrive in your bank on Wednesday.
The available balance can be found on your CheqrPay Dashboard by selecting the Payout Tab.
First Payout
Your first payout is typically available 7 days after you add your bank account and receive your first successful donation on the CheqrPay Platform.
After this initial waiting period, donations and payments will be available for transfer on the following schedule:
When will Credit Card Payments be available for payout?
Credit Card transactions will be available for payout two business days after they are successfully processed.
Examples:
If a donor makes a donation with a credit card on a Monday, the donation will be available for payout on Wednesday. The net amount of this donation (donation less fees) will be included in the payout that initializes the following Monday. It would be in your bank account the following Wednesday.
If a donor makes a donation on a Friday, Saturday or Sunday, it would be available for payout the following Tuesday (two business days). The net amount of this donation (donation less fees) will be included in the payout that initializes the following Monday. It would be in your bank account the following Wednesday.
When will Bank Transfer Payments be available for payout?
ACH Bank Transfer transactions typically take 5-7 days to clear with the donor’s bank. When the donor makes a donation using bank transfer, they will receive an email letting them know their payment is pending with their bank. Within 5-7 days, if the payment successfully clears the donor’s bank, they will receive an email letting them know the donation was successful. The net amount of the donation (donation less fees) will then appear in your available balance.
See this article for more information on ACH Bank Transfers.
Can I request an early payout?
If you have an available balance and need the payout initialized prior to the next scheduled payout, please contact us by submitting a request (choose “Submit a Request” from the top menu). We will do our very best to accommodate your request.