Have a bill that you need to pay now, but don't have the funds in your bank account? Instant Payouts allow you to transfer funds to your connected bank account within minutes of receiving a pet parent payment for a fee of 2.5%. You can request an Instant Payout any day or time, including weekends and holidays, and funds typically arrive in the associated bank account within 30 minutes, although some Instant Payouts may take longer to process.
Who is eligible?
Companies based in the U.S. using PetPocketbook that have:
an active PetPocketbook subscription in good standing
connected an eligible bank account that supports instant payouts
successfully completed both the deposit and withdrawal of our $0.50 microdeposit upon connecting your bank account
maintains a verified Stripe account for payment processing (in other words, your Stripe verification status is not "pausing soon" or "restricted," in which case we'll notify you!)
When do funds become available for Instant Payouts?
When pet parents pay you by credit/debit card on PetPocketbook, payments are available for Instant Payouts as soon as the charge is complete. ACH bank transfers are only available for Instant Payouts after the payment has successfully settled (i.e. no longer labeled "pending").
Since we default to a daily payout schedule to ensure that you are paid as quickly as humanly possible at no additional cost, any payments that have completed processing at the end of each business day get batched and scheduled automatically to be paid out into your connected bank account. Once scheduled, it then takes 1-2 business days for those funds to arrive in your account. Once a payment has been batched and scheduled for automated payout, it is no longer available for Instant Payouts.
I just received a $100 credit card payment. Why isn't the full $100 available for Instant Payout?
Your available balance is net of the associated 2.5% payout fee, which may be subject to rounding error as well.
What happens if I don't want to withdraw the full balance of what's available for Instant Payouts?
Any funds not accessed through Instant Payouts continue to be paid out according to your default payout schedule for free. If you did withdraw a partial balance, you'll see in your payout breakdown report which payments comprise the automated payout, including any Instant Payouts withdrawn in advance along with the associated payout fees. Unfortunately, we have no visibility from Stripe into which pet parent payments make up an Instant Payout.