How Can I Manage Payout Schedules and Frequency Options in Arketa?
Arketa provides flexible options for managing payout schedules and frequency to suit your business needs. This guide explains how to set up, modify, and understand payout schedules, as well as the impact of changes and special cases like bank holidays.
Overview of Payout Options
Arketa offers the following payout frequency options:
Weekly Payouts: Automatic deposits on a chosen day of the week.
Monthly Payouts: Automatic deposits once a month.
Daily Payouts: Available for a monthly fee, enabling faster access to funds.
Manual Payouts: You initiate payouts manually as needed.
Instant payouts are also available for a 1.75% fee per transaction, providing immediate access to funds.
Setting Up or Modifying Payout Schedules
To set up or edit your payout schedule in Arketa:
Navigate to Settings > Payments in your dashboard.
Select Payout Schedule and click Edit.
Choose your preferred frequency (e.g., weekly or monthly) and specify the day of the week for payouts.
Save your changes to update the schedule.
Understanding Payout Timing and Delays
First Payout: Your first payout is typically issued after approximately one week. Changing the payout day will postpone the next payout to the newly selected day.
Impact of Changes: Adjusting your payout day affects the next payout cycle, not the current one. Funds already in process will not be accelerated.
Bank Holidays: If a scheduled payout falls on a bank holiday, it will generally be processed on the next business day.
Special Cases and Additional Options
Daily Payouts: Enable daily payouts for a monthly fee to receive funds more frequently than weekly.
Switching Schedules: Switching from a scheduled payout day to Manual and back to a scheduled day (e.g., Friday) will not delay payouts. Once you return to a scheduled payout, deposits resume on that schedule.
Viewing and Adjusting Payout Schedules
To view or adjust your current payout schedule:
Go to Settings > Payments > View Payouts.
Review your current schedule and make updates as needed.
Options include Manual, Weekly, and Monthly schedules.
Frequently Asked Questions
Can I change the day of my payouts?
Yes, you can change the payout day by navigating to Settings > Payments > Payout Schedule and selecting a new day.
What happens if I enable daily payouts?
Daily payouts allow you to receive funds more frequently for a monthly fee, ensuring faster access to your earnings. By following these steps and guidelines, you can effectively manage your payout schedules and frequency options in Arketa.