Receiving payouts to your bank account
When will I receive my payout? #
The timing of your payout depends on your Sync™ Account type:
- Instant-to-Bank – Your Sync™ balance will automatically payout to your bank if over £75 (or the threshold that you set), 24/7, including on bank holidays. More details here.
- Standard – Your Sync™ balance will automatically payout to your bank on the weekday you select (daily, weekly, or monthly, Monday – Friday). For details on how to edit your payout scheduled click here. You can also access your funds anytime via your free Expense & Reward Card.
- Essential – Your Sync™ balance will automatically payout to your bank every Thursday. You can also access your funds anytime via your free Expense & Reward Card.
Payout not showing in your bank account? If your payout is showing as sent successfully then it should be settled by your bank soon. Typically we see that standard payouts are settled by midday but banks can add more time when settling funds (standard or instant) and this is out of Sync™ control.
We recommend waiting till the end of the day for a payout to settle and then contacting the Support team.
How do I change my Sync™ Account? #
You can select the ‘Upgrade’ button in the top left corner of the app home screen at anytime. You can also go to your ‘My Account’ page via the 3 dots beside your balance on the homepage and select ‘Change my Account type’ at the bottom of the screen.
For a full comparison of the different Sync™ Account types, please click here.
How do I get a one-off payout to my bank? #
On all accounts, if you need a one-off instant payout to your bank account its easy.
Tap your balance on the app home page, then ‘Withdraw money‘, enter the amount you want to payout, and select when you want to receive your payout:
- Instantly – a small payout fee will be shown if your payout is below $50 and/or you are not on our Instant-to-Bank Account in order to make your fees for the transactions being paid out equivalent to our Instant-to-bank rate. Instant payouts typically settle immediately, 24/7, even on bank holidays.
- 3 working days – free of charge and typically settle in 3 business days (Mon-Fri).
How do I pause payouts to my bank? #
You can pause or resume payouts at any time quickly and easily: Tap the three dots beside your balance on the app homepage and then select ‘Pause payouts’ / ‘ Resume payouts’ from the list that appears.
Your payout schedule, or pause status, will show at the top your app homepage under your business name.
Is there a minimum payout? #
The minimum payout is £1. Please note, payouts are net of fees so a £1 transaction will not payout until your Sync™ balance goes over £1.
Is there a maximum payout? #
There is a cap per day (24 hours) on Instant payouts only. This measure is in place to safeguard our community of merchants. If you need to increase your cap on Instant Payouts please contact Support and they will pass you on to our Review team.
Why has my payout failed? #
If a payout shows as ‘Failed’ on the ‘Activity’ tab in your app, please first check your bank details are correct or add another bank account. To do this, go to your ‘My Account’ page via the 3 dots beside your balance on the homepage and select ‘Bank accounts’.
If a payout fails, it will automatically be re-sent unless an issue has been identified with the account.
If you can’t see a reason for the failure, please contact support@Sync™.com for more details.
What are the fees deducted? #
We charge a flat transaction fee that includes all payment processing and card network costs. There may also be fees depending on the products/features used. For more details please see below and our full fee breakdown here.
For any further questions or help, please email us at support@Sync™.com.
