Updated time: Oct 04, 2023, 10:11 (UTC+03:00)
Payouts are how money from your customers gets deposited into your bank account. Depending on your business location and payout schedule, funds from your transactions will be paid out to your bank account on a rolling basis.
Payout availability can vary based on the industry and country you’re operating in. In most cases, when you start processing live payments from your customers with PayCEC, you will receive your first payout on date 05th, 15th, or 25th depending on your Transaction Date. The first payout may take longer for a number of reasons, including your country or being in a high-risk industry. Processing subsequent payouts then happens according to your account’s payout schedule.
Based on your bank’s location, PayCEC may require varying types of account details to activate your bank account.
You can use a traditional bank account with a financial institution (for example, checking) or other types of accounts (for example, savings) as your PayCEC payout account.
Under certain circumstances, in order to protect PayCEC and the security and integrity of the network of buyers and sellers that use the PayCEC services, PayCEC may take account-level or transaction-level actions. Unless otherwise noted, if we take any of the actions described here, we'll provide you with notice of our actions, but we retain the sole discretion to take these actions.
Our decision about holds, limitations and reserves may be based on confidential criteria that are essential to our management of risk and the protection of PayCEC, our customers and/or service providers. We may use proprietary fraud and risk modeling when assessing the risk associated with your PayCEC account. In addition, we may be restricted by regulation or a governmental authority from disclosing certain information to you about such decisions. We have no obligation to disclose the details of our risk management or security procedures to you.
A hold is an action that PayCEC may take under certain circumstances either at the transaction level or the account level. When PayCEC places a temporary hold on a payment, the funds shall not be available to either the sender or the recipient. PayCEC reviews many factors before placing a hold on a payment, including: account tenure, transaction activity, business type, past customer disputes, and overall customer satisfaction. Some common situations where PayCEC will hold payments include:
Limitations prevent you from completing certain actions with your PayCEC account, such as withdrawing, sending or receiving payments. These limitations are implemented to help protect PayCEC , buyers and sellers when we notice restricted activities, an increased financial risk, or activity that appears to us as unusual or suspicious. Limitations also help us collect information necessary for keeping your PayCEC account open.
There are several reasons why we may limit your access to your PayCEC account or the PayCEC services, and/or limit access to your funds, including:
If we limit access to your PayCEC account, we'll provide you with notice of our actions and the opportunity to request restoration of access if, in our sole discretion, we deem it appropriate.
You will need to resolve any issues with your account before a limitation can be removed. Normally, this is done after you provide us with the information we request. However, if we reasonably believe a risk still exists after you have provided us that information, we may take action to protect PayCEC, our users, a third party, or you from reversals, fees, fines, penalties, legal and/or regulatory risks and any other liability.
We may place a reserve on your PayCEC account if we believe there may be a high level of risk associated with you, your PayCEC account, your business model, or your transactions. When we place a reserve on your PayCEC account, it means that all or some of the transactions will be shown as "pending" in your PayCEC balance, and you will not be able to withdraw funds in a "pending" status, in order to protect against the risk of transactions made by you being reversed or invalidated or any other risk related to your PayCEC account or use of the PayCEC services. We make decisions about whether to place a reserve based on a number of factors, including information available to us from both internal sources and from third parties.
PayCEC considers a list of non-exclusive factors, and whether and how these factors have changed over time, including:
If we place a reserve of funds in your account, we'll notify you of our actions and the terms of the reserve. There are two types of reserves that may be placed on your PayCEC account, and one or both may be applied at the same time:
If we change the terms of the reserve due to a change in our risk assessment, we'll notify you of the new terms.
If a payout hasn’t arrived according to its expected delivery date, there can be several reasons as to why. Please check both your dashboard or email to see if we requested additional information from you to complete this process.
If your payout date keeps getting pushed out to a future date, this is most likely due to outstanding account verification requirements required from the owner of the PayCEC account. In order to resume processing payouts, the owner of the PayCEC account should check both the dashboard or email to see if we requested additional information.
Payout taking longer than expected to be paid
If you have a negative balance and PayCEC has initiated a withdrawal to bring your account back to positive, your upcoming payouts might be paused to allow time for the withdrawal to be completed. If your payouts are delayed for this reason, you will receive a notification email about this issue.
Your available PayCEC balance may go into the negative if the cost of refunds, disputes or PayCEC fees is greater than the existing balance. If your account inherits a negative balance, your account will not be able to send out refunds until the negative balance is resolved. For more details, see below:
If your bank account can’t receive a payout for any reason, your bank will send the funds back to us. It can take up to 5 additional business days for your bank to return the payout and inform us that it failed. If this happens, you’re notified by email. To ensure that your bank account details are correct, you need to re-confirm them if a payout fails. After you re-confirm your bank account details, PayCEC will attempt to perform the payout again at the next scheduled payout interval.
Make sure that the bank account information you provide is correct because PayCEC sends the funds using the account information you enter. Therefore, if you provide incorrect information (for example, a mistyped account number or an incorrect routing number), PayCEC might send payouts to the wrong bank account and might not be able to recover the funds. Additionally, you’re responsible for any fees or losses that you incur because of incorrect information. If you’re certain that your banking details are correct and the payout has failed for other reasons, please contact your bank. If you’ve contacted your bank to resolve any issues on their end, you can resume payouts by informing PayCEC Customer Support Team.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.