When should I expect PhorestPay transactions to reach my bank account?

The information in this article is relevant to businesses using PhorestPay through Stripe.

What Time Do Payments Batch?

Batching refers to grouping multiple transactions together in order to process them and release them to your bank account.

With PhorestPay, sales are batched daily. Transactions from the weekend are typically batched with Monday’s transactions. Also, If there is a bank holiday, payments will be batched on the next working day.

Once a group of payments has been batched, they are finalised and will then be paid out to you. Payouts are released the next business day and can take up to 24 hours to settle in your account.

Your time zone will determine your batch time.

Batch Times by Country

Ireland: Midnight/12 AM

United Kingdom: Midnight/12 AM

Australia (AEST): Midnight/12 AM

North America:

  Canada USA
EST 7:00 PM Midnight/12 AM
CT 6:00 PM 11:00 PM
MT 5:00 PM 10:00 PM
PST 4:00 PM 9:00 PM

 

Any transactions that occur after this batch time will be included in the following day's batch.


When does a Payout reach my bank?

Stripe process and release your payout the next working day. Depending on the processing times of both Stripe and your bank, this payout will reach your bank at any stage during that day, typically prior to 4 PM. 

Phorest & Stripe make every effort to settle your funds into your bank account as quickly as possible due to differences in how banks (yours and ours) process transfers, the time that your funds are available can vary.

Day of Transaction & Day of Receiving Payout

To understand the comparison of when a PhorestPay transaction occurs and when that transaction will be in your bank account, please see below:

us-flag.png  In the United States:

Day of Transaction Receive Payout
Monday Tuesday
Tuesday Wednesday
Wednesday Thursday
Thursday Friday
Friday, Saturday, Sunday Monday

globe.png  In All Other Regions:

Day of Transaction Receive Payout
Saturday, Sunday, Monday Tuesday
Tuesday Wednesday
Wednesday Thursday
Thursday Friday
Friday Monday

If there is a bank holiday, payments will be batched on the next working day.


Viewing Your Payouts

You can view your daily Phorestpay payouts under Manager > PhorestPayClick here for more information on checking the history of your PhorestPay payouts.

Was this article helpful?
5 out of 5 found this helpful