Setting up automated Payouts
Posted by Greg S on 20 Jun 2016 15:20

When you receive payments via PayFast, the funds will be added to your PayFast account.

A Payout needs to happen to withdraw these funds after the 48 hour withdraw delay into your selected bank account which was linked to your PayFast account during the signing up and verification process.

This can be performed manually from your dashboard on the Payout tab.

You can also create an automated Payout to receive your funds at regular intervals.

There is a small fee associated with each Payout so it is recommended to use a weekly or monthly time interval with a minimum amount of R1000. The minimum amount means that the payout will only occur on the specified date if at least that value is available in your account.

Note: The amount will show in your bank account within two working days. To reduce the risk of fraud, funds are only eligible and available for Payout after a 48 hour withholding period. A retained balance might also be implemented for the same reason.

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