Instant Payouts

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What are Instant Payouts

How to Use Instant Payouts

Instant Payouts vs. Our Standard Transfer Schedule

Instant Payouts offer you the flexibility to access your funds whenever you need them*, eliminating the wait for the next business day. Whether it's a weekend, holiday, or a time-sensitive situation, Instant Payouts empower you to take control of your finances, allowing you to receive your funds in about 30 minutes. In this article, we will explore what the Instant Payout feature is, and how you can receive your payout using this feature. 

What are Instant Payouts?

Instant Payouts revolutionize the way you receive your funds, providing you with quick and convenient access to your hard-earned money. By utilizing this feature, your funds are sent directly to your linked bank account or debit card within just 30 minutes, eliminating the need to wait on our standard transfer schedule. Instant Payouts offer unparalleled flexibility, allowing you to access your funds whenever you need them*, even during weekends, holidays, and time-sensitive situations.

Note: Instant Payouts are available to individual GlossGenius account members, and Account Owners for our Teams account members. At this time Instant Payouts are not available for team members.

While Instant Payouts are designed to provide quick access to your funds, there are a few key points to remember:

• Instant Payouts have an additional fee of 1.8% deducted from your payments balance:
  The exact fee will be displayed within the Instant Payouts screen, as well as the expected amount you should receive to your linked account. Standard payouts on our transfer schedule remain free of the additional fee.
• Some banks and debit cards may not support Instant Payouts:
  If your account type is not eligible, you will receive an error message when attempting to create an Instant Payout. Our payment partners are continuously working to establish relationships with these institutions to expand the availability of Instant Payouts. For a list of eligible banks and debit cards, click HERE. 
• *You can request an Instant Payout at anytime except during our Quiet Period:
  You can request an Instant Payout anytime except between 5:30pm-8pm Sunday - Thursday, as our Standard Payout transfer occurs during this time. If you try requesting an Instant Payout during this period, you will receive an error message. While your funds won’t transfer via the instant payout, they will still transfer via our Standard Payout schedule.
• Automatic payouts are not included in the reports we provide:
  Currently, the only reporting category related to automatic payouts is the "Your Money is on the Way" email that breaks down upcoming payouts. 
• If your balance reaches zero at 7:00 pm ET during a standard transfer, the Payouts screen will be temporarily blank.

 

How to Use Instant Payouts

To take advantage of Instant Payouts, make sure you have updated to the latest version of the GlossGenius app. Once updated, follow these steps:

1. Tap into More > Payouts, or from the Dashboard, tap into your payout balance
2. The Payouts screen will show your available balance and an option to create an Instant Payout
3. Tap the Payout Now button and enter the desired amount you would like to receive from your available balance. Note: a 1.8% fee will be applied to your payout
4. Confirm your selection by tapping the Payout Now button once more
5. The funds will be sent to your linked account in 30 minutes or less

Note: Instant Payouts have a fee of 1.8% on top of the regular processing fee. There is also a minimum payout of 51 cents, and each instant payout is capped at $9,999. 

 

Instant Payouts vs. Our Standard Transfer Schedule

Our normal payout schedule follows a set routine. Payments taken on business days before 7:00 pm ET are grouped and sent the same night, typically reflecting in your bank account the next day. However, if payments are taken on Monday through Wednesday after 7:00 pm ET, they are grouped with the next day's payments and sent that night. You can learn more about our standard transfer schedule HERE. 

Instant Payouts, on the other hand, offer several advantages over the standard payout schedule. They are available almost 24/7 (except during the quiet period), ensuring you don't have to wait for the weekend to pass or for a specific cutoff time to receive your funds. With an estimated arrival time of approximately 30 minutes, Instant Payouts provide unmatched convenience and flexibility.