Payouts (End of Day)

What is Payouts?

Please note, this feature is available only to businesses using our 'Payout' service which provides an end of day settlement facility to businesses (subject to approval). Payouts make it easy to collect payments throughout the day into a dedicated account. At the end of the day, today's transactions are automatically transferred directly to your bank account in one easy settlement. What are the main benefits? There are several advantages with bulk payouts that can enhance your overall payment processing experience. Here are some of the key benefits: Efficient payment collection: With bulk payouts, all your payments are neatly collected into a single account instead of multiple transactions hitting your bank account throughout the day. This makes it much easier to reconcile, with less line items appearing in your statement. This feature is perfect for larger enterprise businesses such as restaurants, retail stores or clinics, that deal with hundreds or thousands of payments each day. End-of-day settlement: At the end of the day, your funds are automatically settled via one simple payout to your business bank account. It’s a simple way to keep your cash flow under control. Quick refunds for your customers: Payouts makes issuing refunds a breeze. You can process both partial and full refunds directly from today's available balance, with no need approve payment in your businesses's bank account. It's fast, simple, and will delight your customers. Payment confirmation: Rest easy knowing that with bulk payouts, you get instant confirmation for every completed payment. So you always know when funds have landed. FAQs Is Payouts available for all businesses? Payouts is currently limited to select clients. Additional transaction fees apply, and Atoa is required to conduct additional compliance checks to determine eligibility for this service. If approved, payouts is available for both new and existing Atoa businesses. Where are my funds held? Your funds are held during each day within a bank account provided by ClearBank. ClearBank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN: 754568).

I have a question regarding a specific payout?

Please note, this feature is available only to businesses using our 'Payout' service that provides end of day settlement to businesses. Get in touch with our care team and share your business name and the Payout ID for the payout you're asking about. You can find the Payout ID on your ‘Payouts’ page. This helps us get back to you quicker. How do I check the status of a bulk payout? To check the status of your payouts, head to the ‘Payouts’ tab in the sidebar. You’ll see a list of all your recent payouts with their current status. For more details, just click on any payout to see the full info. This gives you complete visibility and control over your payout history. How do I edit my bank account details? 1. Head to ‘Settings’ in the sidebar, then tap the ‘Bank account’ tab. 2. Click the ‘Edit’ button on the right. 3. Enter your new bank details and hit ‘Update details.’ 4. A pop-up will confirm that this new account will be used for Direct Debit invoice payments moving forward. 5. Click ‘Confirm details,’ and we’ll send an authentication code to your registered mobile. 6. Enter the code, and you’re all set—your bank details will be updated! Please note: You won’t be able to update your details while a payout is still being processed. Please ensure you've entered your new bank details correctly. How do I export and download my payout reports? 1. Go to ‘Payouts’ in the sidebar, then tap the ‘Activity’ tab. 2. Click the Export button or icon (it’s the one in the image). 3. Choose the date range you want for the report. You can also pick custom dates. 4. Hit ‘Export,’ and your file will be generated and automatically downloaded.

How do I issue a refund to a customer?

Please note, this answer is for businesses using our 'Payout' service that process refunds through end of day settlement each day. 1. Click on the payment you want to refund. 2. Enter the refund amount (full or partial refund) and any remarks, then hit ‘Continue.’ 3. Double-check the details are correct and click ‘Proceed to refund.’ 4. Once the refund’s done, you can download the receipt to keep track of your funds. FAQs My refund is pending or has failed, why? If your refund shows a ‘Pending’ or ‘Failed’ status, it could be for a few reasons, including: - Insufficient funds: There might not be enough balance to process the refund. - Receiver’s bank issues: The recipient’s bank could be having technical problems or other issues that are stopping the transaction. If you’re unsure, feel free to get in touch with us and we’ll help you sort it out. How many days after the payment can I make a refund? You can issue a refund up to 60 days after the payment was made. How long does it take for the refund to show in my customer’s bank account? Refunds usually show in your customer’s account within 30 minutes. If it’s still not showing after that, use the reference ID to contact your bank. Can I cancel a refund after submitting it? You can cancel a refund will its still in a "pending" state. Refunds usually process within 30 minutes of initiating. Once a refund is completed it cannot be reversed. Can my staff process refunds? Yes, they can! Just make sure to give them the right permission in the Staff tab on the left.

How do I sign up for payouts?

Please note, this feature is available only to businesses using our 'Payout' service that payouts funds at end of day and makes refunds easier. You can request access for this service, simply reach out to us at hello@paywithatoa.co.uk or message us on Live Chat. Our Compliance Team will promptly review your eligibility and guide you through the setup process to ensure you’re up and running smoothly. We might ask you some questions regarding your company (e.g. your ownership structure, etc). How long does the setup process take once I’m approved for bulk payouts? Once your request is approved, you can start using the feature right away. It usually takes up to 2 business days for approval, and our team will make sure everything’s set up quickly so you can get going with no hassle. I'm an existing sole trader, can I use payouts? Sorry, Atoa's Payouts service is open to Limited companies only and is subject to approval by our Compliance Team. What charges will I incur with Atoa? Atoa charges a subscription fee via direct debit. We do charge an additional fee (either flat fee or per transaction fee) for using our Payouts service.