WooPayments: Deposits

Spanish version of this pageAquí puedes encontrar la versión en español de esta página

One of the largest concerns of any for-profit business is getting paid. The documents in this section explain how often your balance is paid out and how to manage your deposits.

NOTE: You may have heard other payment gateways or processors refer to these as “payouts.” Although the terms are different, they refer to the same thing.

The Deposits page showing two deposits that have been successfully paid out.

The basics

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Most basic information about deposits is found on our Managing Money page. This includes how to view a list of your deposits, filter them, and download them to a spreadsheet.

Most countries will only be able to deposit money into a bank account. However, if you are in the U.S., you will have the option to add a debit card as well. That said, adding a bank account may be preferable for two reasons:

  • Debit cards have a maximum amount of money ($9,999 USD) that can be deposited at once, whereas bank accounts have no such limit.
  • Debit cards cannot be debited if your account balance goes negative, which could prevent you from issuing timely refunds to customers.

Deposit timing

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The main page to review on deposits is our deposit schedule document. It explains how often your balance will be paid out depending on your business location, as well as other important details to keep in mind when it comes to getting your money.

We also have a document on why your deposits might be paused or suspended and what to do about it.

Managing deposits

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In some cases, it is possible to change your deposit schedule to better suit the needs of your business.

You can also change the bank account that deposits are routed to. If your store accepts multiple currencies, you may also want to add more than one bank account in order to avoid currency conversion fees.

Instant deposits

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Instant deposits are a way of getting even faster access to your money. Our Instant Deposits guide provides an overview of the feature and who is eligible for instant deposits. Additionally, this page explains the differences between Instant Deposits and scheduled deposits.

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