Understanding Payouts: How Businesses Receive Funds
Understanding Payouts: How Businesses Receive Funds
Once a payment is received, it is sent to your bank account within 2 days as a Payout
How Payouts Work
When a parent makes a payment, the funds first go through Evallo’s payment processing system before being transferred to the business’s bank account. Unlike manual withdrawals, payouts are automated , meaning businesses don’t need to request them manually.
How the Payout Process Works
Parent makes a payment → The transaction is recorded in Evallo.
Convenience fees are deducted → If the business covers transaction fees, the system deducts them before processing the payout.
Payout is scheduled → The net amount (after fees) is transferred.
Funds arrive in the business’s bank account → The payout is completed within 2 business days.
💡 Example: If a parent pays $500 for tutoring, and the convenience fee is 2.9%, Evallo deducts $14.50 before processing the payout. The business then receives $485.50 in their bank account.
How Payouts Work
When a parent makes a payment, the funds first go through Evallo’s payment processing system before being transferred to the business’s bank account. Unlike manual withdrawals, payouts are automated , meaning businesses don’t need to request them manually.
How the Payout Process Works
Parent makes a payment → The transaction is recorded in Evallo.
Convenience fees are deducted → If the business covers transaction fees, the system deducts them before processing the payout.
Payout is scheduled → The net amount (after fees) is transferred.
Funds arrive in the business’s bank account → The payout is completed within 2 business days.
💡 Example: If a parent pays $500 for tutoring, and the convenience fee is 2.9%, Evallo deducts $14.50 before processing the payout. The business then receives $485.50 in their bank account.
Payout Timeline: When Will You Get Paid?
Payouts are processed within 2 business days from the time the payment is made. This means:
If a payment is collected on Monday, the payout will arrive by Wednesday.
If a payment is collected on Friday, the payout may arrive by Tuesday (since weekends don’t count as business days).
Factors That Can Delay Payouts:
Bank holidays and weekends can shift the deposit date.High-value transactions may rarely require extra verification before payout.Failed or declined parent payments will not be included in payouts.
Payout Timeline: When Will You Get Paid?
Payouts are processed within 2 business days from the time the payment is made. This means:
If a payment is collected on Monday, the payout will arrive by Wednesday.
If a payment is collected on Friday, the payout may arrive by Tuesday (since weekends don’t count as business days).
Factors That Can Delay Payouts:
Bank holidays and weekends can shift the deposit date.High-value transactions may rarely require extra verification before payout.Failed or declined parent payments will not be included in payouts.
Tracking Payouts (Future Feature)
At the moment, Evallo does not provide built-in tracking for payouts. Businesses cannot view payout breakdowns directly within the platform.
What You Can Do Instead
Check your business bank account – Payouts should arrive within 2 business days of a parent’s payment.
Monitor transaction confirmations – Payment confirmation emails indicate when the funds are being processed.
Ensure your bank details are correct – Incorrect bank information can cause payout failures.
Tracking Payouts (Future Feature)
At the moment, Evallo does not provide built-in tracking for payouts. Businesses cannot view payout breakdowns directly within the platform.
What You Can Do Instead
Check your business bank account – Payouts should arrive within 2 business days of a parent’s payment.
Monitor transaction confirmations – Payment confirmation emails indicate when the funds are being processed.
Ensure your bank details are correct – Incorrect bank information can cause payout failures.
Upcoming Feature:
Understanding Convenience Fees and Surcharging
By default, businesses cover the convenience fee on transactions. However, Evallo allows businesses to pass this fee onto parents as a surcharge.
How Fees Impact Payouts
If the business covers the fee, the convenience fee is deducted from the payout amount.
If the business passes the fee to parents, the invoice total is increased, ensuring the business receives the full intended payment.
Example: A session costs $100. If the business absorbs the 2.9% fee, their final payout is $97.10. If the fee is added as a surcharge, the parent pays $102.90, and the business receives the full $100.
Understanding Convenience Fees and Surcharging
By default, businesses cover the convenience fee on transactions. However, Evallo allows businesses to pass this fee onto parents as a surcharge.
How Fees Impact Payouts
If the business covers the fee, the convenience fee is deducted from the payout amount.
If the business passes the fee to parents, the invoice total is increased, ensuring the business receives the full intended payment.
Example: A session costs $100. If the business absorbs the 2.9% fee, their final payout is $97.10. If the fee is added as a surcharge, the parent pays $102.90, and the business receives the full $100.
What If a Payout Is Delayed?
If you don’t receive your payout within 2 business days, check the following:
Confirm the payment was processed
Only successful parent payments are included in payouts.If a parent’s payment was declined, it won’t be part of your payout.
Check your bank account details
Ensure your submitted bank information is correct.
Look for processing delays
Bank holidays and weekends can shift when deposits arrive.
If a payout has not arrived after 3 business days, contact Evallo Support for assistance.
What If a Payout Is Delayed?
If you don’t receive your payout within 2 business days, check the following:
Confirm the payment was processed
Only successful parent payments are included in payouts.If a parent’s payment was declined, it won’t be part of your payout.
Check your bank account details
Ensure your submitted bank information is correct.
Look for processing delays
Bank holidays and weekends can shift when deposits arrive.
If a payout has not arrived after 3 business days, contact Evallo Support for assistance.
Best Practices for Managing Payouts
✔ Understand your payout schedule so you know when to expect deposits.
✔ Enable surcharging if you want parents to cover transaction fees.
✔ Monitor your bank account regularly to confirm payouts are arriving as expected.
Best Practices for Managing Payouts
✔ Understand your payout schedule so you know when to expect deposits.
✔ Enable surcharging if you want parents to cover transaction fees.
✔ Monitor your bank account regularly to confirm payouts are arriving as expected.
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