How Will I Receive My Payouts?
We use Stripe as our payments provider, and more Precisely Stripe Express accounts. If you had an existing Stripe Standard account you will still need to set up a Stripe Express account - it is deeply integrated into our service and is a distinct account created just for Pensight. It's free, takes a couple of minutes to set up.
How quickly will I receive my money?
Stripe forwards the funds directly to your bank account in around 3 days after the transaction is complete - see the question below for the details on how it works for different types of products. Payout time depends also on your bank and country of residence, it can add an extra day or two to the normal schedule. The very first payout will take a bit longer - around 7 days to get to your bank account after the transaction is complete.
How do payments work for different product types?
Payment is authorised when the order is made, making sure there are sufficient funds in your clients account, and fully capture the money once the transaction is complete. Payment plan and subscription payments are authorised for single period subscription or instalment amount at a time. For Basic plan users transaction is considered complete when:
- Digital product - instantly.
- Courses - instantly
- Group Programs - instantly.
- 1:1 Sessions - when the meeting is finished.
- Video Q&A - when you send back the response. With Accelerated Payouts on Pensight Pro the transaction is considered complete instantly.
- Group Session - when the group session is finished. With Pensight Pro, it's considered complete as soon as the booking occurs.
- Coaching Bundle - after the first session of the bundle is complete.It may take up to 3 days for the payment to reach your bank account after the transaction is complete depending on your bank. With Pensight Pro, it's considered complete as soon as the booking occurs.
What does it mean if a payment is marked as Pending in the Wallet page?
Pending payment means the payment has been authorised but is not yet forwarded for a payout. Payments for Digital Products, Courses, Group Programs will show up as pending for about an hour after the purchase. Payments for Bundles, 1:1 Sessions, Group Sessions, and Q&A will show up as pending until the session is complete. If you have Accelerated Payouts with Pensight Pro, these products will be treated like digital products and will be forwarded to payout in about an hour from the purchase.
