In this article we will be covering the updated payout features including traceability of payouts, which payments are included in each payout and the anticipated date of your payouts.

In this article you will learn about the following:

• Payouts
• Traceability of payments within a payout
• Anticipated date of payout

Payouts:

Payouts are the payments made from Stripe back to your bank account for the electronic funds they have processed on behalf of Seer. When a payment is made in Seer, it will be sent to Stripe for processing. When these funds have cleared, they will be sent to your bank account and deposited for you to access. This timetable will vary based on the type of payment made for a service. For the entire process to complete there are a couple of stages.

Processing: this is the time it will take for Stripe to process and declare the funds as cleared from the parents credit card or ACH account. For credit cards this is two business days after the transaction date. ACH payments are 4 days after the transaction date. Once these funds have been processed through Stripe, they will be sent to your account. 

Planned payouts are also shown based on funds that may still be processing through Stripe. These funds will have a planned instead of initiated status in the Transaction column.

Payment: This is the transaction date that Stripe has sent the payment to your bank. This date is represented by the second column in the Payout report listed as transaction date. Please note that this is not the date the funds are made available to you, it is the date that they have been sent to your bank for processing on their end.  

Traceability: To help understand what makes up a payout, you will have the option to expand a line on the Payouts report. This will show you which online payments make up the payout that is scheduled or sent.

Anticipated Payout: Your anticipated payout will be our estimated guess on when the funds sent from Stripe will be available for use from your account. This may vary from center to center based on your bank and their processing times. As most banks will complete this processing within a day, this is the date we provide compared to the Stripe transfer to your bank. Remember, this is an estimate and not an exact date you will see you funds. For more information about how long this may take for funds to be released from the Stripe transfer, you should contact your financial institution.