It takes approximately two business days from a sale for the money to be transferred to your bank account. The amount deposited into your account is the transaction amount, minus processing fees. You can resolve delays by checking the status and contacting your bank.
You can estimate the date you will receive the funds for a specific transaction by adding two days to the closing time. The closing time for all transactions is 11:59 PM Eastern Standard Time.
Transactions executed on regular business days will be sent at closing time.
Transactions executed on weekends and public holidays will be sent at the close of business on the next business day.
For example, if a transaction takes place on Tuesday, you can expect the money to be in your account on Thursday. No money is transferred on weekends. Thus, Thursday's transactions are transferred on Monday, Friday's transactions are transferred on Tuesday, and Saturday, Sunday and Monday transactions are transferred as a joint deposit on Wednesday.
When the original transaction amount is processed by Lightspeed Payments, you will be charged a processing fee for transferring the money to your bank account. Lightspeed will deduct these processing costs for you. Processing fees may be charged by:
All processing fees are paid before the deposit is made to your bank account. The deposited amount is therefore entirely yours. You can view the processing fees paid by exporting the payout report.
You can check the current status of any deposit in the payout report. Each payout has one of the following statuses:
In progress: The payout is still being processed.
PAID OUT: The money has been transferred to your account.
Error: There was an error processing the payout.
Most banks are able to deposit the transactions into your account within the two business days mentioned above. However, delays may occur at some banks due to limited capacity during periods of high activity. If you see this status in your report without a corresponding deposit to your account, please contact the bank.