You’ll generate revenue from customer transactions, fees, profit shares, and billing configurations. You can withdraw the revenue from your balance at any time by scheduling a withdrawal in the portal. This tutorial shows you how to schedule a one-time or recurring withdrawal.
Audience: Partner, Merchant
Schedule a Withdrawal From Your Available Balance
Complete all steps in the following sections to disburse funds to your bank account.
Note
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.
For more information on withdrawals and disbursements, see Disbursements and Payouts (Withdrawals).
Prerequisites
Before attempting this tutorial, you must:
Meet the general prerequisites described in Get Started with Use Case Tutorials.
Ensure that your account is in good standing and linked to a bank account that can accept deposits.
Open the Withdrawals Page
Select Withdrawals under the Admin category in the left navigation panel to open the Withdrawals page.
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.
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, to receive your entire account balance each time, enter 100.00 for 100% of the amount being taken.
Important!
Your parent entity can set a limit on the amount you can withdraw per day. If you’re unsure about your maximum daily withdrawal limit, contact your parent entity.
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. 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.
Next Steps
After scheduling the withdrawal, review the following guides for information on related topics:
Set up a Multi-Merchant Withdrawal Schedule: Schedule a withdrawal for multiple merchants.
Set Up a Scheduled Withdrawal Flow for New Merchant Accounts: Set up a withdrawal flow for a newly boarded merchant.
Reconcile a Withdrawal Disbursement: Reconcile recurring and one-time disbursements.