All funds received via PayFast are shown (immediately) on the seller’s PayFast account.
The seller can then –after we’ve done a security audit on those transactions– move the funds to their bank account by means of a Payout.
High volume sellers have requested that we add a schedule facility to these Payouts, to help them automate their finances a bit.
Presenting: Scheduled Payouts
You can now set a schedule for your Payouts to occur in a variety of ways. Simply log in to your PayFast account and hit the Payout tab.
It can be triggered on a certain day of the week, once a week, once a fortnight, once a month and so forth.
Note that Payouts incur a small fee, so it is wise to set a Payout minimum amount, say R1000, so that the Payout only gets triggered if your PayFast account has at least that eligible amount available.
Questions? Give our friendly Support Team a shout or leave your comments below!