When will I receive my payout?
If you have a Lopay Rewards Card...
You can access your funds at any time by using your Lopay Rewards Card to make purchases online or in-store. You can also schedule regular payouts from your Lopay account to your connected bank account - you chose the day of the week or month and your full balance will payout that same time each week/month at no additional cost.
If you don't have a Lopay Rewards Card...
The timing of your payout depends on the Schedule you are on. To change your Schedule at any time, please follow the steps here. The options are as follows:
Instant - Payments are settled immediately after the transaction if your balance is over £75 (or the threshold that you set). Payouts are immediate 7 days a week, including weekends and bank holidays. More details here.
Next Day - Payments are settled the next business day after the transaction - so payments taken on Friday, Saturday and Sunday are all settled on Monday.
Weekly - Payments are settled every Thursday after the transaction.
On all accounts, if you need an one-off instant payout to your bank account its easy. Select 'Withdraw money' in the app and enter the amount you want to payout. A small payout fee will be shown to take your fees for the transactions being paid out to our standard instant rate of 1.79%.
Please note: The timings above are not guaranteed. Payouts can be temporarily held for additional reviews by the Settling bank and this is out of Lopay's control.
How do I change my payout schedule?
To change your Automated payout schedule at any time within the app, head to the 'More' tab and select 'Change schedule'. More details here. Or contact [email protected] if you wish to cancel your Lopay Card Account.
Is there a minimum payout?
The minimum payout is £1. Please note, payouts are net of fees so a £1 transaction will not payout until your Lopay balance goes over £1.
Is there a maximum payout?
There is a cap per day (24 hours) on Instant payouts only. This measure is in place to safeguard our community of merchants. If you need to increase your cap on Instant Payouts please contact Support and they will pass you on to our Review team.
Why has my payout not settled?
If your payout is showing as sent successfully then it should be settled by your bank soon. Typically we see that standard payouts are settled by midday but banks can add more time when settling funds (standard or instant). We recommend waiting till the end of the day for a payout to settle and then contacting the Support team for more assistance.
Why has my payout failed?
If a payout shows as 'Failed' on the 'Activity' tab in your app, please first check your bank details are correct or add another bank account. To do this, go to the 'More' tab and select 'Bank accounts'.
To find out more about why a payout failed, please contact [email protected].
What are the fees deducted?
Payments are settled net of fees. We charge a flat transaction fee that includes all payment processing and card network costs. More details here.
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For any further questions or help, please email us at [email protected].