When you set up Slate Payments deposit accounts (the holding accounts on the Slate Payments platform), you'll specify an external bank account for each holding account to which the collected funds should be sent. These transactions are called payouts or transfers. The same bank account can be used for multiple deposit accounts. You can determine a schedule for transfers into those external accounts (every day, once per week on a specified day, once per month on a specified day).
The very first transfer/payout to your external bank account may take up to 7 days to post. For US accounts, each transfer to your account will include all transactions that "cleared" prior to 21:00 UTC (typically 5 PM Eastern), two days before the transaction (e.g. on Thursday morning you'll receive a transfer of all funds received/cleared as of 5 PM Tuesday).
For non-US accounts the delay before a transaction is available for transfer will vary; in most countries other than the US, each transfer will include transactions from 7 days prior.
Finding Transfer records
Once payouts have started, you will be able to access the details in the 'Transfers/Settlements' section of the Payment history:
On any given day that a transfer to your account is scheduled, you may receive either one or two transfers (assuming that the relevant funds source sub-balance is positive). Stripe processes credit card payments separately from checking account payments, and so there will be separate transfers bundling the funds that came in from credit cards and the funds that came in from checking account/ACH payments.
Just like any other transaction, a payout from Stripe to your bank account will usually take a few days to arrive. We record when a payout was initiated and you will see expected/upcoming payouts in the transfers page and the expected arrival date in the details pop-up.
A given transfer (or payout) will contain all the relevant payment transactions for that deposit account regardless of how you categorize/separate "payment accounts" inside Slate (i.e. payment_account prompt values). If a given payment account is configured to use the deposit account in question (See Step-3 from the setup guide), all relevant payment transactions will be included in the payout (with the exception of certain Stripe fee items or system-initiated reversals or corrections).
Click on a particular payout record to see its details, then click the top link to see the individual payments that were bundled into the transfer:
You will be able to separate out e.g. Application Fees, Event fees, or other types of fees and reconcile the details via the built-in Excel report from the filtered payment history page (or via a custom payments-based query).
Failures and Errors
If your bank account can’t receive a payout for any reason, your bank sends the funds back to Stripe. It can take up to 5 additional business days for your bank to return the payout and inform Stripe and Slate that it failed. If this happens, you’re notified by email. As a result it is possible that a payout status initially shows as paid but then changes to failed.
When a payout fails, you will see the detailed failure message to help you make adjustments:
Payout failures most frequently happen when the "two-way option" is selected but your external bank account is not properly set up to allow the debit for the negative balance. You will see the following message in these cases:
Follow the directions in this article to set up two-way payouts: https://knowledge.technolutions.com/hc/en-us/articles/360057364451-Slate-Payments-Account-Balance
Are there payouts for test payments?
Test payments will not generate an actual test payout transaction to your external bank account, however Slate does simulate how a test payout would be recorded.