Settlement
contains the transactions and money movements sellers process. These Settlements include payments, refunds, adjustments, and fees.Once a
Settlement
gets approved, a Transfer
gets created to pay out sellers. These Transfers
are also called Funding Transfers. Only approved Settlements create a Funding Transfer.Payout Schedule
Your seller receives payouts depending on their payout schedule. Finix offers several different schedules to manage payouts.
The Payout Schedules available include:
Type | Description |
---|---|
Daily | Settlements become ready for approval every business day. |
Monthly | Settlements become ready for approval monthly. |
Continuous | Settlements become ready for approval manually on an on-demand basis. To enable Continuous Settlements, contact the Finix Support team. |
Payout Type
Finix offers two ways to configure payouts:
Type | Description |
---|---|
Net | Fees get deducted from the payouts to your sellers. Deposits and fees get combined into one Funding Transfer. |
Gross | Deposits and fees get distributed into two separate Funding Transfers. |
Net
If you had $1000 in Payment and $30 in Fees, your seller would receive a payout of $970 to their payout bank account.
Gross
If you had a $1000 Payment and $30 in Fees, your seller would receive two payouts. The first would be a $1000 credit to the seller's bank account. The second would be a debit of $30 to the seller's other bank account.
Using Finix, you can manage what bank accounts get used for your sellers' payouts. This includes which bank accounts you use for payouts and fees.
Payout Speed
Finix offers two speeds for delivering payouts to your sellers:
Type | Description |
---|---|
Next Day ACH | Funds are available the next business day |
Same Day ACH | Funds are available on the same business day if the Settlement gets approved by 11 AM ET. |
Next Day ACH gets offered by default to Finix Flex customers. If you want to use Same Day ACH, contact your Finix point of contact or the Finix Support team for more information.
Negative Payouts
In some cases, your sellers can have a negative balance.
For example, if the seller receives $200 but refunds $300, their account balance would be -$100.
If the seller doesn't receive further payments or process transactions to balance out the negative amount, Finix creates a Funding Transfer that debits the seller's bank account.
Managing Payouts with the Dashboard
To manage the Payout Settings of a seller:
- Open the Merchant Account of the seller.
- Click the Payout Settings tab.

To change Payout Settings, click Edit:
Managing Payouts with the API
To manage the Payout Settings of a seller using our APIs, use thePayout Profile
resource.Fetch a Payout Profile
To fetch aPayout Profile
use the following GET request. curl https://finix.sandbox-payments-api.com/merchants/MUjhg6KvrfFU4SNRHF5Z68q5/payout_profile \
-H "Content-Type: application/vnd.api+json" \
-u USoCkJMXiLdQfB6EmzBLSpJf:11a3d46d-e299-4835-bb0e-c2c759993689
Example Response
{
"id" : "POeMLHvNuQRUo3rmWgbYUHxZ",
"created_at" : "2023-01-11T02:34:13.48Z",
"updated_at" : "2023-01-11T02:34:13.48Z",
"linked_id" : "MUjhg6KvrfFU4SNRHF5Z68q5",
"linked_type" : "MERCHANT",
"net" : {
"frequency" : "DAILY",
"payment_instrument_id" : "PIu47vyWTg6MpWAny4wihRef",
"rail" : "NEXT_DAY_ACH",
"submission_delay_days" : 0
},
"tags" : { },
"type" : "NET",
"_links" : {
"self" : {
"href" : "https://finix.sandbox-payments-api.com/payout_profiles/POeMLHvNuQRUo3rmWgbYUHxZ"
}
}
}
Changing a Payout Profile
To update the payout profile of a seller, update thePayout Profile
resource associated with the seller's Merchant
.curl https://finix.sandbox-payments-api.com/payout_profiles/POeMLHvNuQRUo3rmWgbYUHxZ \
-H "Content-Type: application/vnd.api+json" \
-u USoCkJMXiLdQfB6EmzBLSpJf:11a3d46d-e299-4835-bb0e-c2c759993689 \
-X PUT \
-d '
{
"type": "GROSS",
"gross": {
"payouts": {
"frequency": "DAILY",
"submission_delay_days": "1",
"payment_instrument_id": "PIu47vyWTg6MpWAny4wihRef",
"rail": "NEXT_DAY_ACH"
},
"fees": {
"frequency": "MONTHLY",
"day_of_month": "1",
"submission_delay_days": "3",
"payment_instrument_id": "PIu47vyWTg6MpWAny4wihRef",
"rail": "NEXT_DAY_ACH"
}
}
}'