Use Case: Withdraw From Your Available Balance

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.

Partial view of the Withdrawals page, including the Withdrawals Banner and Withdrawal Schedules section.

Objective

Schedule a one-time or recurring withdrawal from your portal account to disburse funds to your bank account.

Audience

Facilitators
Referrers
Merchants

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.
Your account must be in good standing and linked to a bank account that can accept deposits.

Warnings

Warning: For Merchants and Referrers, your parent entity (Referrer or Facilitator) 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 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 withdrawals. Recurring withdrawals can be scheduled daily, weekly, monthly, or yearly.

Tip: Facilitators and Referrers 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 following references to help you get started:

For more information about withdrawal schedules and disbursements, see Disbursements & Payouts (Withdrawals).

Schedule a Withdrawal From Your Available Balance

Ensure that you complete all steps in the following sections.

Open the Withdrawals Page

Navigate to the Withdrawals page by clicking WITHDRAWALS under the Admin category in the left navigation panel.

Schedule a New Withdrawal

Scroll to the Schedule Withdrawal section, and click SCHEDULE WITHDRAWAL to open the Create a Scheduled Withdrawal lightbox in the page.
Choose the withdrawal frequency by clicking the dropdown arrow to the right of the How Often Would You Like to Withdraw section.
- Select ONE TIME from the dropdown menu for a single, non-repeating withdrawal.
- Select Daily, Weekly, Monthly, or Annually for recurring withdrawals.
Click the Amount Type dropdown arrow and select PERCENTAGE and enter the amount as a two-decimal float number (for example, 100.00 for 100%).
Click the Bank Account to Deposit Withdrawal dropdown arrow and select the approved bank account where your funds will be deposited.
(Optional) Click ADVANCED OPTIONS to display additional setup options in the lightbox, including start date, currency, or billing statement descriptor.
1. (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.
2. (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

Note: You can select Weekends & Holidays (potentially incurring another fee from the processor) for the ability to process a withdrawal disbursement on a Saturday, Sunday, or holiday for “same day” withdrawal disbursements initiated on a Friday night or day before a holiday after the batch cutoff time.

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.
Reconciling 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.