With instant payouts, Lightspeed Payments provides a way for eligible merchants to request an instant deposit of their Lightspeed Payments balance to their bank account. Instant Payouts can be requested any time, including on weekends and holidays. Once a request has been submitted, funds typically are deposited to the bank account on file within 30 minutes.

Eligibility

Lightspeed Payments subscribers are automatically reviewed for eligibility. The criteria for eligibility is based on a number of factors, including your transaction volume and your history with Lightspeed Payments.

To be eligible for instant payouts:

• Your business must be based in the US, EU, or UK.
• Your Lightspeed Payments account must be in good standing.
• You must use a US, EU, or UK bank account that is eligible for instant payouts.
• You must have sufficient funds available.
• You must have sufficient account history.

Understanding payouts

There are three types of payouts with varying schedules:

• Scheduled: A scheduled daily payout. Funds are usually paid out within 1-3 business days.
• Same-day: An instant payout configured to pay out automatically at a set time each day. Funds are paid out within 30 minutes.
• Instant: An instant payment that you can manually request when there is enough funds available in your instant balance. Funds are paid out within 30 minutes.

Accessing instant payouts

Eligible merchants will see the option for instant payouts in their Lightspeed Payments merchant portal.

1. Navigate to Financial Services and click the Overview tab
2. Beside Instant payout, click Pay now.

   

3. Follow the prompts in the instant payout window to confirm the amount for payout, minus fees.

   Instant payouts are subject to a 1.5% (US) or 1% (UK and EU) fee of the total of instant payout amount.

   

4. Your funds will typically settle to your associated bank account within 30 minutes.

   

Instant payouts are displayed in the Payouts tab and include the deposited amount including the instant payout fee.

Receiving same-day instant payouts

With Lightspeed Payments, you can automate daily payouts, allowing you to access your funds the same day you receive them.

Same-day payouts are limited to a maximum amount of $9,999 per deposit.

To enable same-day payouts on your account:

1. Navigate to Financial Services > Settings > Payouts.
2. Use the toggle to enable Same-day payouts.

   

3. Select the time you wish your deposits to pay out each day from the dropdown.

   

4. Click Save.

Instant payouts FAQ

• Instant payouts are subject to a fee of 1.5% (US) or 1% (UK and EU) of the total of instant payout amount per instant payout. There is no monthly fee to have instant payouts enabled on your account.

• One-time instant payouts and same-day deposits are limited to a maximum amount of $9,999 per deposit and $15,000 per 24 hour period.

• One-time instant deposits and same-day payouts are limited to a minimum amount of $150.

• A small balance is left in your account so that your next scheduled payout, and its reconciliation report, can be generated without interruption. The remaining balance is automatically included in your next scheduled payout, so nothing is withheld.

• Eligibility for instant payouts is based on the receiving bank. If you have requested an instant payout and funds have not settled within 30 minutes of the request being sent, please verify with your bank.

• Before instant payouts are made available on your account, Lightspeed Payments verifies that the bank account you have on file is compatible with instant payouts. If your bank does not accept instant payouts, instant payouts will not be made available on your Lightspeed Payments account.

• Your account must be in good standing with Lightspeed Payments. In the event that you have been placed in a probationary status with Lightspeed Payments, you will be required to amend your account before instant payouts are made available.