Payouts

In order to payout the funds in your PayFast account you will have to enter your banking details for your account on the Account page and then request a Payout.

We will then process a payout to your account.

Please note that there is a fee for processing a payout.

No. The payout fee is a fixed fee which is charged for every payout requested.

Every payment received through PayFast is credited to your PayFast account from where you request a payout to have it transferred to your bank account.

eg. You receive 10 payments of R100 each, funded by credit card. We would charge a per transaction fee for each payment of R100 (R7.87 with our standard rates) and credit the balance to your account (R92.13). You would then have R921.30 in your PayFast account. You then request a payout from your account and we subtract a payout fee of R10 and transfer the balance to your bank account (R911.30).

The payout fee is fixed no matter how much is paid out (It'll be R10 for R100 and R10 for R10,000).

No, unfortunately not.

We will only payout the funds in your PayFast account to a bank account registered with a South African bank.

We can payout to any bank account in South Africa; it need not be with one of the big four banks and can be with the smaller banks too (eg. Capitec).

The idea behind PayFast is to speed up ecommerce fulfilment through positive acknowledgement of funds received. There is also a reduction in admin overhead for the receiver in terms of not requiring proof of payment, not doing manual reconciliation etc.

The intention too is that PayFast collects multiple payments on behalf of a receiver and then pays the receiver in bulk at the receiver's request (The idea is NOT that each and every payment received is transferred to the receiver's bank account).

Funds received are accumulated to your PayFast account from where you request a Payout on a regular basis (eg. weekly) to have the funds transferred to your bank account.

For fraud prevention and security purposes, each payment is subject to a withdraw delay (shown on your account) so your received payment will only be available after the indicated duration has passed.

You can continue with the fulfilment of the order safe in the knowledge that the funds have been received and credited to your PayFast account and will shortly be available to be transferred to your bank account.