How fast are instant payouts?

If you are on the Instant schedule and make a payment that is over £10 you will receive the payout in typically less than 5 minutes.

If the transaction is below £10, the payout will occur alongside the next transaction that takes your total balance over £10 - or before midday the next business day, whichever is sooner.

How do I change the £10 threshold for instant payouts?

The default threshold for automatic instant payouts is £10 but you can edit this in your app to anything over £10. To do this please follow these steps:

  1. Go to the Settings page via the cog icon in the bottom right of the screen

  2. Select 'Instant payout threshold'

  3. Enter the amount you would like as your threshold - it can be anything over £10 - and select 'Done'.

*Please note, 'Instant payout threshold' will only show in the settings, if your payment schedule is set to instant payouts. It will not show in the settings if you are on either weekly or next-day payouts.

Option not showing? Please ensure you have the latest version of the app: Open lopay in the App Store or Play Store and select 'update'.

How do I request an instant payout?

If your balance is over £10, you can get an instant payout at any time. Please note your full balance will be paid out and the transaction fee is 1.79% for instant payouts (there is no additional fee for a one-off instant payout vs being on the Instant schedule).

To get an instant payout, please follow the steps here:

  1. Go to the Settings page via the cog icon in the bottom right of the screen

  2. Select Payouts

  3. Select 'Instant payout required'

  4. Select 'Continue' to confirm the additional fee for instant payouts

  5. Your lopay balance will then be settled to your bank account immediately - typically this takes less than 5 minutes.

For more information on our payout schedules please click here.

To change your payout schedule at any time, please follow the steps here.

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