Payout schedules
With the Timma Pay, we support three different payout schedules and you may change it anytime by contacting our customer support. The different options are
Each payout will cost you price defined in the price list (currently 0.2e + VAT) and these are billed after each month based on the amount of payouts initiated. To get payouts, you must have used Timma Pay. There will be no payouts going out if your account's balance is zero. The model we are currently using is sales day + 2. This means that it takes Adyen two days to get the money from banks or card providers and then it's available in your Adyen account as pending balance. This will be then paid out based on your payout schedule.
Please keep it in mind that the day the payout has been initiated is not the same day that you actually get the money as there are bank delays between banks. In some cases you might receive the money on the same day, but it can take 1-2 business days.
Please note that if there are are bank holidays or weekends, they will add delay to payouts since bank transfers are not being done during those days
Weekly
Weekly payouts are on by default. This means that the payout is sent each Monday and depending on bank delays, you should be getting the money on the Monday or Tuesday.
Example:
The payout initiated on the 14th contains the payments that have been done between 4th and 10th.
Twice a week
With twice a week payout, the payouts are initiated on each Tuesday and Friday.
Example:
The payout initiated on the 15th, contains payments from 10th to 12th. The payout initiated on the 18th contains payments made between 13rd and 16th.
Daily
With daily payouts, the payouts are initiated on each day there are pending balance on your account.
Example:
The payout initiated on the 16th contains payments done on the 14th.
