What are Instant Payouts with FreshBooks Payments?

Instant Payouts are available for eligible FreshBooks Payments powered by Stripe users, and allow you to transfer funds to an eligible bank account or debit card within minutes of receiving an online payment for a fee of 1.5% for United States businesses and 1% for Canadian businesses. Request payouts any day or time, including weekends and holidays, and funds typically appear in the associated bank account or debit card within 30 minutes (or longer for some bank accounts). 

Any funds not requested through Instant Payouts continue to be paid out according to your payout schedule at no additional cost.

Instant Payout Details

• Availability - Businesses in Canada and the United States using FreshBooks Payments powered by Stripe that processes credit card and debit card payments
  • New FreshBooks Payments users aren't immediately eligible for Instant Payouts
• Supported Banks - Review Stripe’s supported banks and debit cards for instant payouts
  • To add a debit card to your Stripe dashboard, review Manage Bank Accounts and Cards for Payouts
• Fee - 1% for Canada and 1.5% for United States
• Limits - The daily limits reset at midnight US Central Time
  • Instant Payout Minimum - $0.50 CAD or $0.50 USD
  • Instant Payout Maximum - Determined on an account-by-account basis up to a maximum of $9,999 CAD or $9,999 USD

Request an Instant Payout

Instant payouts is available if your payout balance has processed credit card or debit card payments only. Request an instant payout with the below steps:

1. Select the Payments section
2. Then select the Online Payments sub-section underneath
   
3. Under Payout Overview, select the Pay Out Now button
   
4. In the Instant Payout Amount field, the total amount available or your total daily limit will automatically be filled in - if needed, adjust the total up to the maximum available amount after fees
   
5. If needed, under Pay Out To, select a supported debit card or bank account you want to send the payout to
6. Then select the Pay Out Now button to finish. A confirmation email will be sent from Stripe and funds will appear in the associated bank account or debit card within 30 minutes. Some instant payouts might not settle within 30 minutes, and instead might take longer to be credited to the relevant bank account or debit card.

Instant Payout Notes:

• First Transactions - Initiating an instant payout does not bypass the initial 7-day waiting period for first transactions
• Future Payouts - Only transactions processed through credit cards and debit cards are eligible for Instant Payouts 
• Instant Payout Amount - This amount is a net total, calculated after fees
• Payout Balances - To understand the various FreshBooks Payments balances in your Payouts Overview, review Payout Balances
  • The balance in Future payouts is the total of settled funds that are available for Instant Payouts after deducting any available Stripe Capital fees or repayments
• Payout Account - If your bank account or debit card isn’t eligible for instant payouts, add additional bank accounts or debit cards in your Stripe dashboard