Set up bank accounts to receive payouts
Both your account (
type=partner) and your merchant accounts (
type=merchant) will receive payouts. The merchant accounts will receive payouts for the transactions that flow through their accounts, while your partner account will receive payouts largely for commissions and platform fees.
Currently, the bank accounts on file for payouts are explicitly from the onboarding applications and can only be changed via communication with our team. In the near future, we will offer API endpoints for updating and verifying bank accounts for all types of Tilled accounts.
Each payout reflects your available account balance at the time it was created. In some cases, you may have a negative account balance. For example, if you receive 100 USD in payments but refund 200 USD of prior payments, your account balance would be -100 USD. If you don’t receive further payments to balance out the negative amount, Tilled creates a payout that debits your bank account.
Your bank account must support both credit and debit transactions so that Tilled can perform any required payouts.