Otter Payouts and Payouts Schedule

For all transactions processed through Otter POS, Kiosk, or Online Ordering— Otter handles your payouts securely using Stripe. 

What is a payout?

A payout is a disbursement of funds that is deposited into your bank account. 

• A Payout represents a group of orders placed at your locations.
• Your payout total is calculated based on the total amount of each order placed at your store that day, minus credit card fees.
• Taxes are included in your payout total as Otter does not withhold taxes.

Typically, payouts are processed and deposited into your account within 2 business days not including weekends. Payouts placed on weekends or bank holidays will not be accepted by your bank until the next business day. See below for Otter’s payout deposit schedule.

What is Stripe? 

Stripe is a third-party payment processor that partners with Otter to deliver your funds securely. After signing up for Otter, connect your Stripe account to allow Otter to pay you out for your transactions.  

Learn more about how to connect a Stripe account here.

Otters Payouts

Wondering when you'll receive your ACH transfer? Typically, payouts are processed and deposited into your account within 2 business days not including weekends. Payout schedules can occasionally vary based on a variety of factors including: your operating hours, weekends, banking regulations, and holidays. 

Weekends

Payouts initiated on weekends will begin processing on the next available business day. Typically, this occurs on a Monday, except for in the event of a holiday.

Payout Schedule

Learn more about our payout schedule below.
 

Payout Schedule Changes

A variety of factors can cause a change to the regular payout schedule. See below for a list of expected variables that may impact your payout schedule.

• Store closure times: If your service hours extend past 12:00 AM EST, payouts may take an additional day to process.
• Weekends- Payouts initiated on weekends will begin processing on the next available business day.
• Holidays: Payouts initiated on holidays will typically process on the next available business day. This can include local, federal, or bank holidays depending on your financial institution.

In order for Otter to deposit your funds, your Stripe account must be in a healthy state- this includes ensuring that all legal, business, and tax information is up-to-date in your account.

Holiday Payout Schedule

Payouts initiated on holidays will typically process on the next available business day day. This list is subject to change depending on local, federal, regional, and other observed banking holidays.

FAQs

Updated November 22, 2024 18:57