🇺🇸 Only available for US-based bank accounts.
As soon as your client makes a payment through TrueCoach, we'll initiate the payout to your linked bank account. Your first payout will be deposited 7-10 days after you start processing payments in TrueCoach. Once your first payout is successfully deposited, future payouts will be deposited on a daily schedule.
Your account balance shows how much money is in your Stripe account. You will receive payouts in the amount listed on payouts screen. To see that, from the Dashboard, click to view your Stripe account.
This will take you to your Stripe account page where you can see your payouts and personal information.
You might notice your payouts slightly differ from what you actually charge your clients. Why? Because all payment processing includes a small fee of 2.9% + $.30/transaction from Stripe.
Keep in mind that credit card transactions take two business days to clear. For example, payments received on a Tuesday are paid out by Thursday, and payments received on a Friday are paid out by Tuesday. Holidays can impact payout dates so keep an eye on the calendar if you are unsure of when to expect your payment.
After refunding a client payment, you may see that your account balance in Stripe is a negative number, notated by the parentheses. Every payment transaction that is processed is entitled to a transaction processing fee. That applies to money you collect, as well as money you refund back to a client. More details on Negative Payouts here.