NOTE: As of WooPayments version 8.5.0, set to be released on Nov 13, 2024, WooPayments will be switching from using “deposits” to using “payouts.”
After you receive a payment via WooPayments, the amount of that payment (minus transaction fees) will be added to your account balance. This balance is regularly transferred to your bank account or debit card. These transfers are referred to as “deposits.”
You may be familiar with the term “payouts” from other payment gateways. Payouts are the same as deposits with WooPayments. The naming difference is based on feedback from WooCommerce merchants who preferred “deposits.”