In the Withdrawals tab you can view withdrawal details, manage your payment withdrawal schedules and view your withdrawal history.
Creating Payment Withdrawal Schedules
Create a new payment withdrawal schedule by clicking "+ Schedule Withdrawal". Here you can indicate the schedule (daily, weekly, monthly, annually or one-time withdrawals).
Important Note for Monthly Withdrawal Schedules: When setting up a Monthly Withdrawal Schedule, the Start Date will indicate the exact date the withdrawal will happen each month. If the Start Date falls on the 31st of a month, a withdrawal will not happen any month that doesn't have a 31st day. We suggest choosing the 1st or the 15th of the month to avoid this.
This is also true for when the "Skip Weekends & Holidays" is checked. If the date chosen in the Start Date falls on a weekend or holiday, the withdrawal will not happen. We suggest leaving this unchecked.
If you already have a Monthly Withdrawal Schedule set up, and you're worried you may have missed a withdrawal or two, no worries! The Withdrawal amount will be combine with the following month's amount. You can also edit your Withdrawal Schedule from within your KeelaPay account! (see Editing Payment Details in Withdrawal Schedules section below)
Changing your Withdrawal Schedule
When changing your withdrawal schedule from a more frequent payout schedule to a less frequent payout schedule (ex. daily to weekly/monthly, etc.), you must create a new withdrawal schedule and mark the pre-existing withdrawal schedule as "Inactive".
This is because when a schedule attempts to trigger a payout, it performs some checks in the background. One of these is if the schedule triggered a payout within the period that it is now set to. When changed from daily to monthly (or weekly), the schedule checks to see if the payout was created within the last month (or week). If this is true, the payout will not be triggered.
While this won't apply to withdrawal schedules that are modified from a less frequent to a more frequent payout schedule, we recommend using the above process and adapting it as a best practice. This will ensure there are no interruptions to your withdrawal!
Deleting Withdrawal Schedules
It is only possible to delete Withdrawal Schedules with an "Inactive Status" (see example above). Once this is marked as inactive, you can delete the payout schedule accordingly so it's removed from your dashboard.
Editing Payment Details in Withdrawal Schedules
Click on your pre-existing payment withdrawal schedule and click the edit button in the upper right hand corner. Here you can modify the withdrawal schedule.
If you need to change the banking details of your withdrawal schedule, we recommend creating a new withdrawal schedule and deactivating/deleting the previous withdrawal schedule.
What is the Payout Fee?
There is a $0.50 fee for each withdrawal/payout on your account.
What is the Maximum Withdrawal Amount?
The maximum withdrawal amount per month is $100,000.