Keeping your payouts on track and disputes to a minimum

Getting paid is vital to your business! It helps you avoid cashflow issues, and ensures that you can meet your own payment obligations. It’s important to understand how payouts work, so that you can plan ahead, reduce your admin burden, and avoid disputes and unnecessary delays. Making a sale can be hard work; getting paid for it certainly shouldn’t be. 

When are payouts processed?

You can request a payout at any time. Just keep in mind that payouts are processed on business days only.

To make things easier, you can schedule weekly or monthly payout requests with a specified minimum amount. Once your account balance reaches that minimum, your payout request is automatically submitted. With scheduled payouts, you can enjoy greater certainty and potentially sidestep cash flow bottlenecks. Plus, less admin for you means more time for the things you enjoy.

What can delay a payout?

We aim to process payouts as smoothly and quickly as possible. However, there may occasionally be situations where a payout takes a little longer while we review certain activity or information.

Examples might include, but are not limited to:

• Compliance concerns or buyer complaints, such as a buyer reporting that they have not received their order within the shipping timeframe displayed on your website or sales platform.
• Poor buyer ratings or feedback. You can keep an eye on your buyer ratings directly from your merchant dashboard.
• Transactions that require additional review. In some cases, we may need a little more time to review certain transactions before processing a payout.
• Using a website that has not been verified with Bob Pay.
• Changing your products or business activity to a different industry without letting us know. If your business changes, please keep us updated so we can make sure your account information remains accurate.

Why do some transactions need to be reviewed?

There are a few reasons why a transaction may need a little extra attention before a payout can be processed. This could relate to where the payment came from, a buyer complaint, or a chargeback query

While these reviews can sometimes take a little longer, they play an important role in protecting both you and your buyers. They also help create a safer, more trusted ecommerce environment for everyone.

How can you help to avoid payout delays?

You can help keep your payouts running smoothly by:

• Ensuring your website meets Bob Pay's compliance requirements.
• Only using a website that has been approved by Bob Pay.
• Always following your published shipping policies.
• Consistently adhering to your refund and returns policies.

A little extra care when it comes to compliance and customer service can go a long way in keeping your payouts running smoothly. It can also help prevent misunderstandings, disputes and chargebacks before they happen.

How to avoid payment disputes and chargebacks

Payment disputes and chargebacks can be frustrating for everyone, but the good news is that there are simple steps you can take to help prevent them. Setting clear expectations, keeping your customers informed and maintaining accurate records can all help keep things running smoothly.

1. Keep your product descriptions clear and accurate: Give your customers a good idea of exactly what they’re buying before they place their order. Include accurate information about the product, price, size, specifications and condition. Be sure to mention any damage or missing parts too. Good-quality product images can also help customers know what to expect.
2. Be realistic about delivery times: Let your customers know when they can expect their order and give timeframes you’re confident you can meet. If something unexpected causes a delay, let them know as soon as possible. A quick update can make all the difference.
3. Keep the conversation going: Good communication can help turn a potential problem into a positive customer experience. Keep your customers updated on their orders and respond to questions or concerns as quickly as you can. Happy customers are more likely to leave good reviews, come back and recommend your business to others.
4. Make your refund policy easy to find: Make sure your refund and returns policy is clear, easy to understand and simple for customers to find. Nobody wants to go on a treasure hunt to figure out what happens if they need to return something!
5. Keep your proof of delivery: Always keep proof of delivery. It gives you useful evidence that an order was delivered and can be particularly helpful if a customer later says they didn’t receive it.

Clear information, good communication and keeping good records can go a long way towards preventing disputes and keeping your payments running smoothly. It can also help improve your cash flow, build better customer reviews and, most importantly, take some of the financial stress out of running an online business.

Keep your payments on track

Prompt payouts can help keep your business running smoothly, but there are times when a payout may take a little longer. The good news is that many of these delays can be avoided with a little good financial housekeeping and by staying in touch with your customers, especially when something doesn’t go according to plan.

By keeping your information up to date, communicating clearly and staying on top of any issues, you can reduce the chances of disputes and delays, while giving your customers a better experience too.

‍