This article is only available to merchants who have subscribed to Lightspeed Payments and do not have the Retail point of sale connected to their eCom store. If you have Retail connected to eCom, read this Getting paid article instead.
It takes about two business days to transfer funds from a sale to your bank account. The amount deposited into your account is the transaction amount, less fees. You can troubleshoot delays by reviewing the status and by contacting your bank.
You can estimate the date you will receive the funds for a specific transaction by adding two days after the cutoff time. The cutoff time for all transactions is 11:59 PM Eastern Standard Timezone.
- Transactions made on regular business days are sent at the cutoff time.
- Transactions made on weekends and holidays are sent at the cutoff time of the following business day.
For example, if a transaction happens on Tuesday, you can expect to see that money in your account on Thursday. No transfers happen over the weekend, so Thursday transactions will be deposited into your account on Monday, Friday transactions on Tuesday, and Saturday, Sunday and Monday transactions will all be deposited on Wednesday as a single deposit.
|Transaction date||Deposit date|
When the original transaction amount is processed by Lightspeed Payments, there are fees charged to transfer those funds to your bank account. Lightspeed deducts the fees for you. Fees can be charged by:
- Payment processors
- Card providers
All the fees are paid before it is deposited in your bank account. The deposited amount is all yours, free and clear. You can see the fees paid in the Payouts report found by exporting.
You can see the current status of a given deposit on the Payouts report. Each payout will show one of the following statuses:
- In progress: this payout is still being processed.
- FUNDED: this payout has been sent to your bank.
- Error: there was an error processing this payout.
Most banks are able to deposit the transactions into your account within the two business day schedule described above. However, some banks may be delayed depending on the their capacity during periods of high activity. Contact them when you see this status in your report with no corresponding deposit in your account.