Updates to how you receive your payouts are coming soon! Here’s a quick insight into how it’ll work and what it means for you and your event. 

Custom Payout Schedule

Currently, all payouts are carried out monthly, but now we’re giving you a choice when you’d like to be paid. The new options will be available to you once you’ve received 3 monthly payouts from us. 

Until that point, payouts are set to the default of ‘monthly’. This is to reduce the risk of fraud and make sure all our organisers are legitimate. As we all know, security is of the highest importance in today’s climate.  We pride ourselves on being the ticketing platform that is safe, secure and reliable, so we want to ensure our platform is consistently safe for our organisers and the attendees. 

Once you’ve received your 3 monthly payouts from us, you’ll unlock the following options to choose from:

• Weekly 
• Fortnightly 
• Monthly 
• Quarterly 

We’re also updating your payouts page with the following information:

• Next payout date 
• Next payout amount 
• A record of all previous payout amounts and dates, which will be linked to the downloadable pdf statement 

We aim to give you access to the vital funds you need when you need them. We know having a reliable cash flow is an essential factor in running any event, and we want to make sure we’re able to take away some of the stress that comes with waiting for payments. 

There are, of course, a few situations we had to consider and plan for:

• Your account must be verified for you to receive payments 
• If you’re yet to enter your bank account details, we’ll be sending you an email to let you know that if you don’t enter them before your next payout date, we won’t be able to pay you your funds. We’ll be checking this 7 days before your payout date is due to make sure you have plenty of time to update your details. If you don’t manage to update them in time, any funds will carry over to the next payout date. 
• The minimum payout amount will be £75 (or the equivalent in your currency, e.g.  $75/€75 etc.), which will apply to all currencies. If your account balance at the time of payout is below this, you’ll receive an email explaining that no payout has occurred because your account doesn’t have the minimum balance available. Inside this email will be a link to request an on-demand payout (carry on reading to find out more!) Any balance you have under £75 ($75/€75) will be again carried over to the next payout date. 
• Your selected payout option will be locked until the next payout period. So, if you choose monthly payouts, you won’t be able to change them until the current month is over.

On-demand Payouts

And now for the biggest payouts update… on-demand payouts! Currently, there’s no option for you to request an on-demand payout if your balance is below the minimum payout amount of £75 (or the equivalent of your payout currency, e.g. $75/€75), so we’ve decided to create this as a new feature, on the “My Payouts” page.  This will allow you to request a payout of your current balance* on demand. Like the new payouts schedule, this feature will only be available to you once you’ve verified your account and have entered your bank account details.  

Any on-demand payout will be subject to a small fee for each on-demand payout

This means that if you’ve already had your default payout completed (i.e. 1x monthly payout), you’ll now be able to request an on-demand payout of your full balance from within your organiser dashboard. This might be useful to you when: 

• You get paid monthly but want to have an additional payout within the same time period. For example, if your event finishes after your selected payouts schedule and you don’t want to wait another month to receive your funds. 
• If you get paid monthly, but your ticket sales don’t add up to the minimum payout amount, you’ll be able to make an on-demand payout for any funds under £/€/$75

On-demand payouts apply only to the following payout options:

• Fortnightly 
• Monthly 
• Quarterly 

So remember to keep this in mind when selecting your payout schedule. 

There are also a few limitations for on-demand payouts:

• You’ll only be able to request 1 on-demand payout per month 
• If you are requesting more than £500, you will only receive 50% of your available balance or £500 (whichever is the greater amount). e.g. if you have a balance of £580, you will be allowed to request up to £500. If you have a balance of £3000, then you should be allowed to request up to £1500 
• You’ll only be able to request an on-demand payout instead of your usual selected payout option if your balance is below the minimum payout amount or if you’re likely to receive your payout faster than the normal timeframe (even if it’s just a week early)