Payouts

Additional information is available to FareHarbor employees.

Once your Payment Setup Checklist is complete, FareHarbor will automatically start depositing money to your bank account. Each deposit is called a payout.

Tracking payouts

You can track your daily payouts with the Payouts & Refunds report, located in the Reports section of your Dashboard. From this report, you can also review your pending payouts, refund reserve, and bank debits.

Learn more about the Payouts & Refunds report here.

Payout settings and scheduling

There are 3 settings that determine when and how you get paid. These are:

• Rolling window
• Payout frequency
• Payout after availability has ended

Rolling window

Adjusting the rolling window setting delays the payout date of the collected payment. The default configuration in FareHarbor is one day. 

For example: If the rolling window is set to five days, payments collected on December 1st will be initiated five days later at 1:00AM UTC.

The rolling window can be adjusted if needed. Please contact our Support team, if you would like to change it.

Note: If you are using dLocal to process payments then the rolling window value is set to '8' and cannot be reduced.

Payout frequency

FareHarbor supports three payout frequencies:

• Daily: We will initiate payouts every day at 1:00AM UTC.
• Weekly: We will batch payments to be paid out once a week and pay out on Wednesday at 1:00AM UTC.
• Monthly: We will batch payments to be paid out once a month on the third calendar day of the month at 1:00AM UTC.

There are multiple reasons a weekly or a monthly frequency could be relevant for you:

• Your bank charges you a fee for every bank deposit (common in Southern Europe).
• Your accounting and financial reconciliation processes are better suited for a weekly or monthly cadence.

To configure your payout frequency:

1. Navigate to Settings > Bank & Payments > Overview tab.

2. Click on Edit.

   

3. Select your preference via the Payout frequency dropdown menu.

   

4. Click on Save.

   Note: You require permissions to access and configure the Bank & Payments settings. If you don't have the correct permissions, get in touch with your FareHarbor administrator or with our Support team.

Payout after availability ends

This setting determines whether to batch the payments by the payment date or the activity date. 

Enabling this setting will lead to the payment being paid only after the activity has ended.

For example: If a payment is made on December 1st for an activity taking place on December 5th, the payout will be scheduled after December 5th even if it was already collected on the December 1st.

This setting is relevant for businesses that:

• reconcile their payout processes with their accounting processes. Especially when following accrual accounting where revenue is recognised only after the activity has been completed.
• want to eliminate the issue of insufficient funds for refunds.

If you would like to enable this setting, please contact our Support team.

What are the default payout settings?

By default, your payout settings are configured to:

• Rolling window: One day.

• Payout frequency: Daily.

  Exception: Companies based in Costa Rica using dLocal have a weekly payout frequency as default.

• Payout after availability has ended: No.

FareHarbor payouts are triggered everyday at 1:00AM UTC.

With the above settings, payments collected today are generally paid out at the end of the next day but this varies depending on where your business is located:

• If you are located in the US, payments processed on December 1st are reflected as paid out in the evening of December 2nd.
• If you are located in Europe, Asia, Australia, or New Zealand, payments made on December 1st are reflected as paid out on the December 3rd in the morning, noon, or afternoon.

How do these settings interact with each other?

The below table illustrates how rolling window, payout frequency, and payout after availability date interact with each other and affect your payout schedules.

Your Future Payout report will provide you the estimated payout dates based on the settings that are in place for your Dashboard.

You can check when your payout will be initiated using our Payout Date Estimator tool: