I Have Not Received My Last Payout. What Must I Do?

There is a number of reasons why your payout may be unsuccessful or delayed.

Payouts happen on your preferred payment schedule (daily, weekly or monthly). Processed and captured payments, refunds, and the status of your account have an influence on whether your payout will occur on a certain day. 

Remember that a 'missing' payout does not always mean something is wrong.

Why are payouts not reflected in the Payouts tab?

1. Your account has a negative balance due to multiple processed refunds

Multiple refunds can bring your balance on RaccoonPay down, and the amount you have available will be updated after a period of time. It is essential to thoroughly review your payments, as refunds are not instantly displayed at the top of the payment summary. 

Furthermore, RaccoonPay only pays out when your account has a positive balance.

2. Payments were not processed yet

Credit card payments take up to a few days before they are processed to be paid out.

If you have a daily payment schedule, payments made after 2:30 PM (Central European Time) will be paid out on the next scheduled payment day. 

For example, payments made on Monday after 2:30 PM and on Tuesday before 2:30 PM will be paid out on Wednesday. If not, this will be paid out on Thursday.

For security and authentication processes, when larger payments are made, the processing time is longer as the cardholder's bank will want to verify the transaction and implement security checks before approving the payment transaction.

RaccoonPay users have two account statuses:

Live Accounts - This means that you have successfully completed all your compliance steps to set up RaccoonPay, and your payout status is identified as “done", meaning you can receive payouts.

Live, payout on hold - This means that there are missing documents. However, you are able to start taking payments. The payout status is on hold, meaning you will not be paid out until you’ve completed and submitted all compliance steps.

3. The account is live, but your payout is not activated yet

Accounts that are still in the onboarding process with RaccoonPay do not have their payouts activated due to incomplete onboarding documents. 

If a new bank account number is requested, the validation of the bank statements starts again. Payouts are put on hold up until the validation of the new banking details has been completed.

For example, if you set up RaccoonPay and never passed the onboarding requirements but could take payments already. This means that more documents could be required for your account to be fully compliant.

Important

Once the necessary documents have been provided to RoomRaccoon, all payouts will be completed promptly. No payments can commence until full compliance is achieved, and RoomRaccoon cannot take responsibility for any outstanding payouts due to an account's non-compliance status.

When making changes to banking details, you can still process payments. However, your payouts are put on hold until the new details have been validated. For more on what happens when you change your banking details, click here.