You’ll generate revenue from customer transactions, fees, profit shares, and billing configurations, which you can withdraw from your balance at any time by scheduling a withdrawal in the portal. This tutorial walks you through the steps to schedule a one-time or recurring withdrawal.
Objective
Schedule a one-time or recurring withdrawal from your portal account to disburse funds to your bank account.
Audience
Partners
Merchants
Environment
Portal (Sandbox)
Portal (Production)
Prerequisites
Notes
You must have a fully boarded Payrix Pro account to perform any of the actions described in the use case guides.
Your account must be in good standing and linked to a bank account that can accept deposits.
Important notes
Important!
For Merchants and Partners, your parent entity can set a limit on the amount you can withdraw per day. If you are unsure about your maximum daily withdrawal limit, contact your parent entity.
Tips
Tip
Know the difference between withdrawal and disbursement.
Withdrawal: Sometimes referred to as payout, a withdrawal is the action of requesting the dispersal of money from your Payrix Pro account to your bank account.
Disbursement: A disbursement occurs when the funds are transmitted to your bank and deposited in your account.
Tip
To receive your entire account balance each time, set the withdrawal as a percentage with 100% of the amount being taken.
Tip
You can schedule a one-time withdrawal or recurring withdrawal. Recurring withdrawals can be scheduled daily, weekly, monthly, or yearly.
Tip
Partners can schedule withdrawals for a single entity, or for a group of entities. To schedule a withdrawal for a group, set up a Withdrawal Flow on the Group Profile page.
Additional Resources
See the tips below to help you get started.
For more information about withdrawal schedules and disbursements, see Disbursements and Payouts (Withdrawals).
Schedule a Withdrawal From Your Available Balance
Ensure that you complete all steps in the following sections.
Open the Withdrawals Page
Select Withdrawals under the Admin category in the left navigation panel to open the Withdrawals page.
Schedule a New Withdrawal
Navigate to the Withdrawal Schedules section, and click SCHEDULE WITHDRAWAL to open the Create a Scheduled Withdrawal dialog.
Select the withdrawal frequency from the How Often Would You Like to Withdraw dropdown menu:
Daily, Weekly, Monthly, or Annually: Creates recurring withdrawals for the selected time period.
One Time: Creates a single, non-repeating withdrawal.
Click the Bank account to deposit withdrawal dropdown arrow and select the approved bank account where your funds will be deposited.
Enter the Amount to be deposited as a two-decimal float number (for example, 100.00 for 100%).
Click the Amount Type dropdown arrow and select Percentage.
(Optional) Click Advanced Options to display additional setup options in the dialog, including start date, currency, or billing statement descriptor.
(Optional) To create a withdrawal from a listed bank account to your available balance in the same amount you’ve configured, select Debit in the Advanced Options section.
(Optional) To skip withdrawals on weekends and bank holidays, select Skip weekends/holidays in the Advanced Options section. This checkbox is only displayed when the Schedule is set to Daily and the Billing Schedule is not set.
(Optional) To initiate the withdrawal disbursement for the same business day, select SAME DAY in the Advanced Options section. Note that this might incur an additional fee (check with your payment processor or issuer).
Note
Same-day disbursement processing cutoff time will still apply for the business day as with all other standard withdrawal setups. This means that if same day is selected at 10:00 PM EST, missing both batch cutoff times, the withdrawal process would still be initiated, but the funds wouldn’t be processed during that “unavailable period” until the following business day.
First Batch Cutoff: 7:00 PM EST
Second Batch Cutoff: 9:30 PM EST
Click Create Withdrawal to create the withdrawal.
Result: The upcoming withdrawal is displayed in the Withdrawal Schedules table on the Withdrawals page.
Next Steps
After scheduling the withdrawal, review the following use case guides for additional information on related topics:
Setup a Multi-Merchant Withdrawal Schedule: Learn how to schedule a withdrawal for multiple merchants.
Set Up a Scheduled Withdrawal Flow for New Merchant Accounts: Learn how to set up a withdrawal flow for a newly boarded Merchant.
Reconcile a Withdrawal Disbursement: Read more about reconciling recurring and one-time disbursements.
Conclusion
After the withdrawal is scheduled, it will appear in the Withdrawal Schedules table on the Withdrawals page. After the scheduled withdrawal occurs, the funds will be released to the selected bank account and the withdrawal will appear in the Withdrawal History table at the bottom of the Withdrawals page.