In this article, we’ll explain how Stripe payouts work for your Gymflow account, including payout timings, how to view your balance and upcoming payouts, and how to update your bank account information.
How Stripe Payouts Work
Stripe is the payment processor that Gymflow uses to handle all payments from your members. When a member makes a payment (whether it’s for a membership, a class, or any other service), that payment is processed through Stripe. Once the funds are processed, Stripe automatically sends them to your connected bank account as a payout.
Payout Timings
Initial Payout Delay: For new accounts, Stripe may have a longer initial payout period (usually 7-10 days) for verification purposes.
Standard Payout Schedule: After the initial period, payouts are typically processed daily. 2-5 business days after a payment is made.
Bank Processing Times: Depending on your bank, it may take an additional 1-3 business days for the payout to appear in your account.
Viewing Your Balance and Future Payouts
You can easily view your current balance and see upcoming payouts directly within your Gymflow dashboard:
Log in to your Gymflow owner account.
Go to Settings > Payments > Balance and click "See More"
Your available balance, pending balance, and upcoming payout dates will be displayed.
If no upcoming payouts are showing, dont worry, your transactions are still settling and payout will be scheduled soon.
Updating Your Bank Account for Payouts
If you need to change the bank account where your payouts are sent, you can do this securely through your Gymflow account:
Log in to your Gymflow owner account.
Go to Settings > Payments > Balance and click "See More"
Click on Update Payout Settings.
Follow the on-screen instructions to securely enter your new bank account details.
Frequently Asked Questions
Why Haven't I received my first payout?
There is a 7 day waiting period for the first payout. This delay is necessary for risk mitigation and cannot be waived under any circumstances.
Stripe says the payment has been paid, but it’s not in my bank account. Where is it?
Most banks will post received funds on the same day they are received. Sometimes, banks may take 2-3 additional days to post funds. Also, payouts on weekends or bank holidays won’t be accepted by your bank until the next business day.
I set my payouts to “daily” but the payout did not come the next day.
Your payout schedule refers to how often Stripe sends money to your bank account. For example, you can set the payouts to "daily" or to wait until you specify ("manual").
The payouts schedule doesn't control how long it takes your pending balance to become available. For example, if your account operates on a daily payout schedule with a 3 business day payout speed, Stripe pays out funds daily from transactions captured 3 business days earlier.