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Receiving instant payouts with Lightspeed Payments

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 access instant payouts:

  • Your business must be based in the United States of America (US) or the United Kingdom (UK).
  • Your Lightspeed Payments account must be in good standing.
  • You must use a US or UK bank account that is eligible for instant payouts.
  • You must have sufficient funds available.
  • You must have sufficient account history.

Accessing instant payouts

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

  1. To access the Lightspeed Payments merchant portal, navigate to Financial Services > Lightspeed Payments.
  2. Navigate to the Overview tab of your Lightspeed Payments reports.
    Image displays the Overview tab of the Lightspeed Payments report.
  3. Under the Processing Balance header, click Pay out now.
  4. Follow the prompts in the instant payout window to confirm the amount for payout, minus fees.

    Instant payouts are subject to a 1.5% fee of the total of instant payout amount.

    Image displays a pop up window titled 'Instantly pay out your balance'.
  5. Your funds will typically settle to your associated bank account within 30 minutes.
    Image displays a pop up window titled 'Instant payout.' There is a green checkmark and the text reads: Instant payout on the way. You should see $9,899.01 in your bank account within 30 minutes.

Instant payouts are displayed in the Payout tab of your Lightspeed Payments reports, and include the deposited amount including the instant payout fee.

Image shows payout details for an instant payout received.

Instant payouts FAQ

  • Instant payouts are subject to a fee of 1.5% of the total of instant payout amount per instant payout. There is no monthly fee to have instant payouts enabled on your account.

  • Instant payouts are limited to a maximum amount of $9,999 per deposit and $15,000 per 24 hour period.

  • Instant payouts are limited to a minimum amount of $150.

  • 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.

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