Arrange bank accounts to accept payouts
Payouts will be made to both your partner account (
type=partner) and your merchant account (
type=merchant). Merchant accounts will be paid for transactions that pass via their accounts, whereas your partner account will be paid mostly for commissions and platform fees.
Adding information regarding your bank account
At the moment, bank accounts on file for payouts are specific to the onboarding applications and can only be changed through communication with our team. In the near future, we will provide the ability for partners to update and validate bank accounts for all types of Tilled accounts.
Each payout is calculated based on your available account balance at the time it was created. A negative account balance is possible in some cases. For example, if you receive $100 in payments but refund $200 in previous payments, your account balance will be -$100. Tilled creates a payout that debits your bank account if you do not receive additional payments to balance out the negative amount.
So that Tilled can perform any required payouts, your bank account must support both credit and debit transactions.