Manage weekly, monthly or daily payout schedules
Please note: This feature is currently only available to a small number of merchants.
Choosing your payout schedule
Choose a weekly, monthly or daily payout schedule to suit your business needs.
How can I change my payout schedule?
- From the dashboard homepage, click “Payments” in the left-hand menu
- Go to “Payouts”
- Click on “Preferences” in the top right corner
- Select how often you would like to receive the funds collected by GoCardless from your customers:
Get paid weekly (recommended)
Perfect for reducing time spent on reconciliation admin and gives you a more consistent view of cash flow. Plus, build funds up in case you need to process any refunds through GoCardless.
Get paid monthly
Choose a consistent monthly payout date that aligns with other monthly expenses (e.g. payroll) and reduce admin. Build up more cash for a rainy day or if you need to make any refunds.
Get paid daily
The daily option means you'll get paid out for funds every day. However, the payout timing is dependent on your payment scheme. Daily payouts give the fastest access to available funds, but may leave insufficient funds in your confirmed balance for refunds. If this falls short, refunds won’t be issued until it reaches the necessary amount.
Ad hoc payouts
This enables you to choose to receive an ad hoc payout if you have opted for weekly or monthly payouts and need the funds paid out sooner. Ad hoc payouts will be paid out on the next available payout date subject to your usual holding periods.
- Click “Save changes”
- Your next scheduled payout will be displayed at the top of the “Payouts page”
To request a payout interval that is longer than monthly (the maximum being 62 days), please raise a ticket with our support team.
When will I receive my payout?
Payments are automatically paid out according to your selected payout schedule, provided that your GoCardless account has funds. Please note that payout dates may be delayed by weekends and holidays, with payments processed on the next working day and subject to your usual hold periods.
Frequently Asked Questions (FAQs)
Q: How can scheduling weekly or monthly payouts improve cash flow predictability?
With weekly payouts, you will receive payment on a set day of the week, and with monthly payouts a set day or the last date of the month. This predictability can help manage cash flow to better plan for expenses and investments.
Q: How can weekly or monthly payouts reduce operational overhead?
Weekly or monthly payouts can help reduce the frequency of reconciliation processes, enabling accounting teams to focus on larger batches of transactions.
Q: How can weekly or monthly payouts reduce my banking fees?
Some business bank accounts charge for incoming payments. You may be able to reduce the costs associated with receiving payouts by consolidating payouts to weekly or monthly.
Q: How can weekly or monthly payouts streamline refunds?
Weekly or monthly payouts make refunding simpler by having a balance available for refunds. With daily payouts, you may need to wait for funds to accumulate before being able to issue a refund.
Q: What if I have opted for weekly or monthly payouts and need a payout in between?
You can request an ad hoc payout which will include the available funds we have collected so far. These will be paid out on the next payout date, subject to any usual holds. Any remaining funds will be paid on your selected payout frequency.
Q: Which collection dates are included in my weekly payout?
Each time you receive a payout, any payment confirmed at least one working day before the payout date will be paid out.
If your payouts are set to weekly, for example, Monday, you can expect to receive funds collected on the previous Monday, Tuesday, Wednesday, Thursday & Friday.