Creating an account with Paymennt allows you to start accepting online payments from your clients. As a merchant, managing cash flow is likely one of your top priorities. To address this, we’ve created this guide to answer all your questions about payouts and settlements with Paymennt. Let’s dive into the details.
Paymennt Payouts
Paymennt provides free transfers to the local bank account you registered with during sign-up. Payout frequency depends on your subscription plan and app settings. Here’s what you need to know:
Weekend and Holiday Delays:
Payouts are not processed on weekends or public holidays, so it’s essential to plan ahead for upcoming holidays.
Minimum Payout Limit: The minimum payout amount is AED 250.
Plan-Specific Payouts:
Premium Plan:
Enjoy free daily payouts.
Standard Plan:
Weekly payouts are available at AED 10 per transfer.
Basic Plan:
Weekly payouts cost AED 15 per transfer.
Know more about Paymennt Payout from here
Paymennt Settlements
The settlement period varies based on your subscription plan:
• Basic and Standard Plans: Settlement within 5 business days.
• Premium Plan: Settlement within 2 business days.
Learn more about Paymennt’s packages, benefits, and prices
Extended Hold Periods in Settlements
A “hold period” refers to the temporary hold on funds before they are released to the recipient. This period is part of Paymennt’s risk management and compliance procedures. Common reasons for extended hold periods include:
1. Transaction Verification:
Ensures the legitimacy of transactions and prevents fraud.
2. Chargeback Management:
Allows time to address disputes or chargeback requests from customers.
3. Regulatory Compliance:
Ensures adherence to anti-money laundering practices and other legal regulations.
Know more about Paymennt settlement from here
Requesting Early Release of Held Funds
To request the early release of held funds, it’s essential to understand the reason behind the hold. Here are the three main steps for the most common scenarios:
- Verify Transactions: Submit additional documentation or evidence to validate the transaction.
- Manage Chargebacks: Provide required documents such as transaction records, receipts, communication logs, and any other relevant evidence to resolve disputes.
- Ensure Compliance: Follow the compliance requirements by providing necessary details or documents.
For further assistance or additional information, feel free to contact us here.
