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Use Case: Set Up a Scheduled Withdrawal Flow for New Merchant Accounts
You can automatically add a recurring withdrawal of funds when creating or boarding a new Merchant account by setting up a withdrawal flow. This tutorial will walk you through the steps to schedule a withdrawal flow associated with one of your groups, so that all new Merchants added to that group will automatically receive the same withdrawal schedule.
Partial view of the Withdrawal Flows tab in the Group Profile page.
Objective
Schedule a withdrawal flow for a new Merchant account.
Audience
Facilitators
Referrers
Environment
Portal (Sandbox)
Portal (Production)
Prerequisites
Prerequisites:
You must have a fully boarded Payrix account to perform any of the actions described in the use case guides.
Warnings
Warnings will provide insight or advice to avoid risk, visibility, and product performance issues during this use case.
Warning: This process only applies to new Merchants as they are boarded to the Payrix platform. For Merchants that are already boarded, you can create an individual custom Withdrawal Schedule. See the Withdraw from Your Available Balance use case for more information.
Tips
Tips will provide suggestions to streamline or better prepare you to apply this use case tutorial.
Tip: You can apply existing scheduled withdrawal flows to Merchants after successfully boarding by assigning it to your whitelabeled Merchant Signup Form.
Additional Resources
For more information on Withdrawals and Disbursements, visit the Disbursements & Payouts (Withdrawals) page.
Set Up a Scheduled Withdrawal Flow
1. Access or Create the Group Profile
To access an existing group, follow the steps below:
Step 1: Click GROUPS under Management in the left-hand navigation panel, then find the group name in the Groups table.
Step 2: Click any information for the group to open the Group Profile page.
To create a new group, follow the steps below:
Step 1: Click GROUPS under Management in the left-hand navigation panel to open the Groups page.
Step 2: Click the ADD GROUP button in the upper right-hand corner of the page to open the Add Groups section at the top of the page.
Step 3: Enter the name of the new group, then click CREATE GROUP. The new group will appear in the Groups Table on the page.
Step 4: Click on the new group in the table to open the Group Profile page. Note that you may need to customize other group parameters before creating a new withdrawal flow.
2. Create a New Withdrawal Flow
Step 1: Click the Withdrawal Flows tab on the left-hand side of the Group Profile page. Click the ADD WITHDRAWAL FLOW button to open the Add a Withdrawal Flow lightbox on the page.
Step 2: Enter a numerical value in the Repeat Every box to indicate the withdrawal frequency, then select the recurring interval from the drop-down menu to the right of the box. Choose from days, weeks, months, or years.
Step 3: Click the Type drop-down menu and select the type of withdrawal. Choose from a Percentage, Actual, or Negative Percentage (a dollar amount).
Step 4: Enter the amount as a two-decimal number (e.g. “26.00” for 26% or $26).
Step 5: Click the Trigger drop-down menu and select CREATE (for new Merchant accounts) or BOARD (for new Merchants fully approved and boarded on the platform).
Step 6 (Optional): Uncheck the SKIP WEEKENDS/HOLIDAYS to allow the withdrawal to occur during non-banking hours.
Step 7 (Optional): Check the DEBIT box to create a withdrawal FROM a listed bank account to your available balance in the same amount you’ve configured.
Step 8: Click the ADD button to complete the process.
Result: After completing these steps, your account will automatically assign a Merchant to a withdrawal flow when boarded or created and added to a group with the withdrawal flow configuration setup.
Next Steps
Once the withdrawal is scheduled, review the following use case guides for additional information on related topics:
Schedule Withdrawals for Multiple Merchants: Learn how to schedule a withdrawal for multiple merchants in this group using the Setup a Multi-Merchant Withdrawal Schedule use case.
Conclusion
Once 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.
References
Click the links or items below to access any of the following pages: