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 will walk 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

Warnings will provide insight or advice to avoid risk, visibility, and product performance issues during this use case.

Warning: For Merchants and Referrers, your parent entity (Referrer or Facilitator) may 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

Tips will provide suggestions to streamline or better prepare you to apply this use case tutorial.

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.
Disbursements: The disbursement occurs when the funds are transmitted to your bank and deposited in your account.

Tip: It’s recommended to set the withdrawal as Percentage with 100% of the amount being taken to receive your entire account balance each time.

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 in the Group Profile page.

Additional Resources

See the following references to help you get started:

For more information about Withdrawal Schedules and Disbursements, visit the Disbursements & Payouts (Withdrawals) section.

Schedule a Withdrawal From Your Available Balance

1. Open the Withdrawals Page

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

2. Schedule a New Withdrawal

Step 1: Scroll down the the Schedule Withdrawal section, and click the SCHEDULE WITHDRAWAL button to open the Create a Scheduled Withdrawal lightbox in the page.
Step 2: Choose the withdrawal frequency by clicking the drop down arrow to the right of the How Often Would You Like to Withdraw section.
- Select ONE TIME from the drop down menu for a single, non-repeating withdrawal.
- Select Daily, Weekly, Monthly or Annually for recurring withdrawals.

Step 3: Click the Amount Type drop down arrow and select PERCENTAGE and enter the amount as a two-decimal float number (e.g. “100.00” for 100%).
Step 4: Click the Bank Account to Deposit Withdrawal drop down arrow and select the approved bank account where your funds will be deposited.
Step 5 (Optional): Click ADVANCED OPTIONS to display additional setup options in the lightbox, including start date, currency, or billing statement descriptor.
Step 6 (Optional): To create a withdrawal from a listed bank account to your available balance in the same amount you’ve configured, click the DEBIT box in the Advanced Options section in Step 5.
Step 7 (Optional): To initiate the withdrawal disbursement for the same business day, click the SAME DAY box in the Advanced Options section in Step 5, that may 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: “Weekends & Holidays” may also be selected (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.

Step 8: Click the CREATE WITHDRAWAL button to create the withdrawal.

Result: The upcoming withdrawal is displayed in the Withdrawal Schedules table on the Withdrawals page.

Next Steps

Once the withdrawal is scheduled, 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 using the Setup a Multi-Merchant Withdrawal Schedule use case.
Set Up a Scheduled Withdrawal Flow for New Merchant Accounts: Learn how to set up a withdrawal flow for a newly boarded Merchant using the Set Up a Scheduled Withdrawal Flow for New Merchant Accounts use case.
Reconcile a Disbursement: Read more about reconciling recurring and one-time disbursements in the How To Guide Reconciling a Withdrawal Disbursement 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.