The Finances tab on the Vendor Dashboard helps you keep track of your earnings and ensures you get paid smoothly. Here’s how to navigate it and manage your payouts.
Set Up Your Deposit Account
To receive payments, you need to connect your bank account:
Go to the Finances tab.
Click on Settings.
Under Deposit Account, click Edit.
Follow the prompts to securely connect your bank account using Plaid.
A small test deposit (0.01¢) will be sent to verify your account, then withdrawn shortly after.
Once verified, your payouts will be automatically processed each week!
Need Help?
If you have any issues receiving payouts or setting up your account, check that:
Your bank details are correct.
Your balance meets the $10.00 minimum payout requirement.
Your orders are marked as "complete" or "picked up".
Understanding Your Balances
Available Balance: The amount ready to be sent in the next payout. When a customer places an order and you mark it as "complete" or "picked up", the funds begin processing for transfer to your connected bank account. A small processing fee (2.9% + $0.30 per transaction) is deducted before payout.
Reserve Balance: To help keep payments secure, 20% of your funds are held for 30 days before being released.
Why is there a hold?
Sometimes, banks may return a deposit after it initially appears in your account due to issues like insufficient funds or transfer mistakes. Holding a small portion of funds helps prevent complications and ensures smooth transactions.What does this mean for you?
This hold is a common security measure to protect both vendors and buyers. Once the 30-day period is over, the reserved funds will be released and included in your next payout.Read Reserve Balance: What It Is and How It Works for more information on the reserve balance.
How Payouts Work
Payouts are made weekly, usually by Friday, through our payment processor, Plaid.
The minimum payout amount is $10.00. If your balance is below this, it will roll over to the next week.
Read Available Balance and Payouts for more information on payouts.