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Timely’s built-in payment solution, TimelyPay, lets you take payments online and in person, so it’s easy for clients to pay you securely. With a quick set up it helps reduce no-shows by letting you take deposits and charge cancellation fees. You can also sell gift vouchers and manage your payments in one place. There are no hidden costs, just pay the standard processing fees, and once a payment is settled, the money is paid into your bank account the next business day. That means no waiting around for payments to clear.
In this article you will learn more about payment timing, and when you can expect to receive your first payment with TimelyPay. For more information on this feature, see our help guide Introduction to TimelyPay.
When do I get my first payment with TimelyPay?
Important note: New or reactivated payment accounts will initially have a 7-day payout delay. This delay will apply until both of the following conditions are met:
Your Timely account is active
Your associated Stripe account has been active and verified for at least 14 days.
Once both conditions are met, your account will move back to the usual next-business-day payout delay during the next nightly update.
For example, if your Timely account is already active and your Stripe account has been active for at least 14 days when you become eligible for payouts, you may receive your payments on the usual next-business-day schedule. If your Stripe account has been active for less than 14 days, the 7-day delay will remain in place until this requirement is met.
Public holidays and bank processing times may also affect when your payment reaches your bank account.