With Lightspeed Payments, you can automate daily instant payouts, allowing you to access your funds the same day you receive them. Funds typically are deposited to the bank account on file within 30 minutes.
Note: Same-day payouts are limited to a maximum amount of $9,999 per deposit.
Eligibility
Lightspeed Payments subscribers are automatically reviewed for eligibility. The criteria for eligibility is based on a number of factors, including your transaction volume and your history with Lightspeed Payments.
To access instant payouts:
- Your business must be based in the US, EU, or UK.
- Your Lightspeed Payments account must be in good standing.
- You must use a US, EU, or UK bank account that is eligible for instant payouts.
- You must have sufficient funds available.
- You must have sufficient account history.
Accessing instant payouts
Eligible merchants will see the option for instant payouts in their Lightspeed Payments merchant portal.
- To access the Lightspeed Payments merchant portal, navigate to Payments > Transactions and Deposits.
- Navigate to the Overview tab of your Lightspeed Payments reports.
- Under the Processing balance header, select Pay out now.
- Follow the prompts in the instant payout window to confirm the amount for payout, minus fees.
Important: Instant payouts are subject to a 1.5% (US) or 1% (UK and EU) fee of the total of instant payout amount.
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Your funds will typically settle to your associated bank account within 30 minutes.
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Instant payouts are displayed in the Payout tab of your Lightspeed Payments reports, and include the deposited amount including the instant payout fee.
Receiving same-day payouts
With Lightspeed Payments, you can automate daily instant payouts, allowing you to access your funds the same day you receive them.
Important: Same-day payouts are limited to a maximum amount of $9,999 per deposit.
To enable same-day payouts on your account:
- Navigate to Payments > Transactions and Deposits > Settings.
- Select Payouts, and toggle on Same-day payouts.
- Select the time for your daily deposit payout. Funds may take up to 30 minutes to appear in your account.
- Select Activate.
Instant payouts FAQ
Q: Are there any additional fees associated with instant payouts?
A: Instant payouts are subject to a fee of 1.5% (US) or 1% (UK and EU) of the total of instant payout amount per instant payout. There is no monthly fee to have instant payouts enabled on your account.
Q: Is there a maximum payout amount that can be requested?
A: One-time instant payouts and same-day deposits are limited to a maximum amount of $9,999 per deposit and $15,000 per 24 hour period.
Q: What is the minimum amount that can be requested for instant payout?
A: One-time instant deposits and same-day payouts are limited to a minimum amount of $150.
Q: What if my bank delays the payout?
A: Eligibility for instant payouts is based on the receiving bank. If you have requested an instant payout and funds have not settled within 30 minutes of the request being sent, please verify with your bank.
Q: What if my bank does not accept instant payouts?
A: Before instant payouts are made available on your account, Lightspeed Payments verifies that the bank account you have on file is compatible with instant payouts. If your bank does not accept instant payouts, instant payouts will not be made available on your Lightspeed Payments account.
Q: Are there additional eligibility requirements for Instant Payouts?
A: Your account must be in good standing with Lightspeed Payments. In the event that you have been placed in a probationary status with Lightspeed Payments, you will be required to amend your account before instant payouts are made available.