{"_id":"58af1e1f456db01b009b94a9","githubsync":"","parentDoc":null,"__v":0,"category":{"_id":"58af1bf6ebd7370f0078ba09","__v":0,"project":"55dd0853d2d97337001800e2","version":"55de36ec9067202b00de0015","sync":{"url":"","isSync":false},"reference":false,"createdAt":"2017-02-23T17:29:26.972Z","from_sync":false,"order":12,"slug":"payouts","title":"Payouts"},"version":{"_id":"55de36ec9067202b00de0015","__v":33,"project":"55dd0853d2d97337001800e2","createdAt":"2015-08-26T22:00:12.384Z","releaseDate":"2015-08-26T22:00:12.383Z","categories":["55de36ed9067202b00de0016","55de36ed9067202b00de0017","55de36ed9067202b00de0018","55df7dcd437b3f0d004ba204","55e4e014177b6e0d00333141","55e4e01fe252ac0d00303a99","55e4e05240cda60d003bad67","55e4e070177b6e0d00333142","55e4e0753325e60d007fbee6","55e4e0803325e60d007fbee7","55e4e086177b6e0d00333143","55e4e0a1177b6e0d00333144","55e4e0aa3325e60d007fbee8","55e4e0b140cda60d003bad6b","55e4e0bae252ac0d00303a9d","55e4e0c5177b6e0d00333145","55e4e0ee3325e60d007fbeea","55e4e0fae252ac0d00303a9e","55e4e100177b6e0d00333147","55f85c8ba3271b0d00498d55","56092e1ac5cff70d007d0131","564b64a3ee12850d0095866e","564b64b5791099170071e9ea","565cd0bfd18ae50d007183d8","565f5f5d6bafd40d0030a063","565f790d6bafd40d0030a09f","56611c464851190d003f9f5d","56637d5b7988ab0d00d0522e","56637d687988ab0d00d0522f","567835df6928b40d009dd650","56e59c043c29b117008dae5b","5704013559c5190e000ab646","572be252de40590e00026934","58af1bf6ebd7370f0078ba09","5cdad81d912ece0039e9a939"],"is_deprecated":false,"is_hidden":false,"is_beta":false,"is_stable":true,"codename":"","version_clean":"3.0.0","version":"3.0"},"user":"55dd080d0efd5821000d53b3","project":"55dd0853d2d97337001800e2","updates":[],"next":{"pages":[],"description":""},"createdAt":"2017-02-23T17:38:39.530Z","link_external":false,"link_url":"","sync_unique":"","hidden":false,"api":{"results":{"codes":[]},"settings":"","auth":"required","params":[],"url":""},"isReference":false,"order":12,"body":"##Can I sign up with PayStand to start paying my bills?\n\nNo, you cannot. At this moment, PayStand only supports payouts for platforms who want to build out their own private network in which customers can pay each other out. \n\n##Why do vendors need to be onboarded as a customer before I can pay them out?\n\nTo comply with Know Your Customer (KYC) and Anti Money Laundry (AML) regulations, PayStand requires that all parties involved in a Payout transaction are properly onboarded and vetted.\n\n##Where do I find Payout balances?\n\nEven though PayStand keeps close track of all money movements on its ledger, the current Payouts for Private Network Platforms configuration is setup to immediately move money when it becomes available. When PayStand decides to allow carrying balances on either the receiver or sender of Payouts, it will make an endpoint available where balances can be retrieved.\n\n##Can I onboard vendor customers and send them payouts without having needing to confirm micro deposits?\n\nYou can send payouts to vendors before they have confirmed their bank account. However, at this moment, PayStand requires vendors to verify they have access to their bank accounts by supplying the amount of the 2 micro deposits PayStand sends them whenever they add their bank account. Note that in the future this requirement may be relaxed for certain platforms and industries.\n\n##I am already onboarded on Platform X which is using PayStand's payout infrastructure, why do I need to onboard again on Platform Y to be able payout to vendors or receive payouts from companies on Platform Y.\n\nThough behind the scenes PayStand may optimize and speed up the onboarding of the same customer on other platforms, for all intents and purposes the network of vendors and companies of a platform is absolutely private and completely under control of said platform. This includes onboarded customers, payouts, deposits, vendors, companies, etc.\n\n##How long does it take for a vendor to receive a Payout?\n\nThat will depends on a various factors as laid out in your service agreement.","excerpt":"about Payouts for Private Network Platforms","slug":"payouts-frequently-asked-questions","type":"basic","title":"Frequently Asked Questions"}

Frequently Asked Questions

about Payouts for Private Network Platforms

##Can I sign up with PayStand to start paying my bills? No, you cannot. At this moment, PayStand only supports payouts for platforms who want to build out their own private network in which customers can pay each other out. ##Why do vendors need to be onboarded as a customer before I can pay them out? To comply with Know Your Customer (KYC) and Anti Money Laundry (AML) regulations, PayStand requires that all parties involved in a Payout transaction are properly onboarded and vetted. ##Where do I find Payout balances? Even though PayStand keeps close track of all money movements on its ledger, the current Payouts for Private Network Platforms configuration is setup to immediately move money when it becomes available. When PayStand decides to allow carrying balances on either the receiver or sender of Payouts, it will make an endpoint available where balances can be retrieved. ##Can I onboard vendor customers and send them payouts without having needing to confirm micro deposits? You can send payouts to vendors before they have confirmed their bank account. However, at this moment, PayStand requires vendors to verify they have access to their bank accounts by supplying the amount of the 2 micro deposits PayStand sends them whenever they add their bank account. Note that in the future this requirement may be relaxed for certain platforms and industries. ##I am already onboarded on Platform X which is using PayStand's payout infrastructure, why do I need to onboard again on Platform Y to be able payout to vendors or receive payouts from companies on Platform Y. Though behind the scenes PayStand may optimize and speed up the onboarding of the same customer on other platforms, for all intents and purposes the network of vendors and companies of a platform is absolutely private and completely under control of said platform. This includes onboarded customers, payouts, deposits, vendors, companies, etc. ##How long does it take for a vendor to receive a Payout? That will depends on a various factors as laid out in your service agreement.