Webconnex Payments offers weekly payouts. You'll receive payouts once your KYC (Know Your Customer) process is completed and your Webconnex Payments processor is fully active and verified. Webconnex Payments automatically issues payouts weekly, assuming that your account remains in good standing. This article will walk through the payout schedule, clarify which transactions are included in each payout, and answer common questions.
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Payout Schedule
Payouts follow a consistent weekly schedule:
Payouts are processed every Wednesday
Payouts include transactions completed by Monday at 11:59PM PST
Funds typically arrive in your bank by early Thursday morning
Webconnex Payments operates on a T+2 schedule, meaning funds from each transaction become available for payout 2 business days after the transaction is completed. Once funds are available, they are included in the next Wednesday payout. Because of this schedule, each Wednesday payout includes includes transactions completed from Tuesday at 12AM PST through Monday at 11:59 PM PST.
Example: If you receive payments between Tuesday, March 4 and Monday, March 10 (by 11:59 PM PST), those transactions will be included in the payout processed on Wednesday, March 12, with funds typically arriving in your bank account by Thursday morning, March 13. Any transactions completed on or after Tuesday, March 11 at 12:00 AM PST will roll into the following week’s payout, processed on Wednesday, March 19.
Pro Tip: While payouts are sent on a predictable schedule, the exact timing of when funds appear in your bank account can vary slightly depending on your bank’s processing times. In most cases, funds arrive by early Thursday morning, but delays can occur due to weekends, bank holidays, or banking institution processing differences.
FAQs
What transactions are included in my weekly payout?
What transactions are included in my weekly payout?
Wednesday payouts include all transactions that were completed by 11:59 PM PST on Monday. This means each payout will include includes transactions completed from Tuesday at 12AM PST through Monday at 11:59 PM PST.
Can I receive my payouts by check instead of direct deposit?
Can I receive my payouts by check instead of direct deposit?
Right now, Webconnex Payments only issues payouts via direct deposit. We may explore check payout options in the future.
What will appear on my bank statement when I receive a payout?
What will appear on my bank statement when I receive a payout?
Your bank statement will list the deposit as coming from "Webconnex Payout."
Why is my payout delayed, and why haven't I received my payout as expected?
Why is my payout delayed, and why haven't I received my payout as expected?
There are several reasons why you might not receive a payout.
Your Account Isn't Fully Verified: Webconnex Payments will only issue payouts once the Know Your Customer (KYC) process is complete, and your payment processor is fully verified
Your KYC Information or Bank Information Was Recently Updated: Payouts are delayed if a customer updates their sole proprietor or organization details, or they update their bank information
The Bank Information Is Incorrect: Payouts sometimes fail or get delayed because the entered bank account information is incorrect. In this case, the payout is returned to Webconnex Payments until the correct bank information is provided. If the payout is returned, this payout will be listed under the Payouts tab as "returned."
Your Merchant Account Has Fallen Below Zero: If your merchant account has fallen below $0, payouts will be delayed until there are new funds coming in that bring their account positive
Your Account Entered the Re-Review Process: From time to time, Webconnex Payments may place an account into a re-review as part of standard payment processing and risk monitoring practices. This review helps ensure that your business details and activity remain accurate and consistent with when your account was originally approved. During this process, you may be asked to confirm or update information about your business or sole proprietorship to keep your account in good standing
Why did I receive an email saying "Your payouts have been temporarily blocked?"
Why did I receive an email saying "Your payouts have been temporarily blocked?"
You will receive this email if your Webconnex Payments account has been temporarily paused. This can occur for a variety of reasons, such as recent updates to your KYC (Know Your Customer) information, changes to your bank account details, or your account being placed into a routine re-review process.
The email is sent to the address originally used to set up your Webconnex Payments account and is intended to notify you that action is required to resume payouts. Payouts will not resume automatically. Your account must be reviewed and returned to good standing before any future payouts can be issued.
If you receive this notification, please contact help@webconnexpayments.com so our team can help restore your account to good standing and resume your payouts.
