Send funds to third parties
The funds from the payments that you process for your users are held in their balance accounts until you pay them out. To pay out to your user's verified bank account (transfer instrument), you can:
- Set up automatic scheduled payouts. You set the timing and the amount that will trigger the payout.
- Send on-demand payouts outside of the automatic scheduled payouts.
Scheduled and on-demand payouts result to a bank transfer request to move funds from an account holder's balance account to their transfer instrument. You can only pay out the funds if the following conditions are met:
- The account holder and transfer instrument must be linked to the same legal entity.
- The account holder must be allowed to use the sendToTransferInstrument capability. From LEM API v3, this capability is verified at the level of the transfer instrument. This means that transfers are possible to a verified transfer instrument independently of the verification status of other transfer instruments that the legal entity has.
To specify how fast the funds must be sent, you can set a priority in the transfer request. A transfer with a higher priority incurs higher fees. The priorities available for bank transfers are:
- Regular: For normal, low-value transactions.
- Instant: Instant way to transfer funds in Single Euro Payments Area (SEPA) countries. Has higher fees than a regular payout.
- Fast: Faster than regular but has higher fees. Recommended for high-priority, low-value transactions.
- Wire: Fastest way but has the highest fees. Recommended for high-priority, high-value transactions.
- Cross-border: Recommended for high-value transactions to a recipient in a different country.
When using cross-border priority, transfer delays and potential fees may occur due to involving correspondent banks. As a result, the beneficiary may receive a reduced amount compared to the one instructed.
- Internal: Transfer to an Adyen-issued business account.
Transfer cut-off times
There are specific times during a business day, called cut-off times, when Adyen stops processing payouts for settlement within the settlement delay. Payouts initiated before the cut-off time are typically processed within the specified settlement delay, while those initiated after the cut-off time will be processed the next day within the specified settlement delay.
Adhering to cut-off times can help you maintain consistency and predictability of your financial activities.
Example cut-off times for a payout to a recipient in the SEPA area
Suppose you need to make a payout to a recipient in the SEPA area. Depending on when you initiate the payout, the funds will be available the same business day or the next business day.
- You initiate the payout with a wire priority at 16:20 PM ET (10 minutes before the 16:30 PM cut-off time). Adyen processes this payout, and the recipient will receive the funds the same business day.
- You initiate the payout with a wire priority at 17:00 PM ET (30 minutes after the 16:30 PM cut-off time). Since it is past the cut-off time, Adyen will process this payout on the following business day. The funds will be available in the recipient's account on the day after the next business day (two business days from the date of the payout initiation).
Example cut-off times for a payout to a US recipient
Suppose you need to make a payout to a US recipient.
- You initiate the payout with a regular priority at 19:30 PM ET (30 minutes before the 20:00 PM cut-off time). Adyen processes this payout, and the recipient will receive the funds on the next business day.
- You initiate the payout with a regular priority at 20:30 PM ET (30 minutes after the 20:00 PM cut-off time). Since it is past the cut-off time, Adyen will process this payout on the following business day. The funds will be available in the recipient's account on the day after the next business day (two business days from the date of the payout initiation).
The following table is an overview of cut-off times depending on the country, currency, and transfer priority.
|Country||Currency||Priority||Cut-off time||Local timezone||Settlement delay|
|United Kingdom||GBP||Wire||16:30||GMT||Same day|
|United Kingdom||GBP||Fast||20:30||GMT||Same day|
|United States||USD||Wire||18:30||ET||Same day|
|United States||USD||Regular||20:00||ET||Next day|
|United States||USD||Fast||14:00||ET||Same day|
Transfer statement description
A statement description is the text that your users see on their bank statements when they receive payouts, which helps them identify the transaction. Adyen passes the description that you provide to the recipient bank. Most banks show this description in the statement.
To configure a default description for all payouts, contact our Support Team. You can still override the default description when you use a scheduled or on-demand payout.
In general, the description must not exceed more than 140 characters. The supported characters may also differ based on the country and priority of the transfer. These description limitations are described in the scheduled and on-demand payouts documentation.
Supported countries, currencies, and priorities
Adyen only supports paying out to your users in the local currencies. For example, USD is supported in the United States and AUD in Australia. There two exceptions:
- EUR payouts in countries that are part of the Single Euro Payments Area (SEPA) but not the eurozone.
- USD payouts in Canada.
See the overview below of supported countries, currencies, and priorities.
|Country of counterparty||Currency||Supported priority||Type|
|Single Euro Payments Area (SEPA) countries||EUR||regular, instant, wire||iban|
|Czech Republic||CZK||regular||czLocal or iban|
|Denmark||DKK||regular, wire||dkLocal or iban|
|Hungary||HUF||regular||huLocal or iban|
|Norway||NOK||regular, wire||noLocal or iban|
|Poland||PLN||regular, wire||plLocal or iban|
|Sweden||SEK||regular, wire||seLocal or iban|
|United Kingdom||GBP||regular, fast, wire||ukLocal or iban|
|Country of counterparty||Currency||Supported priority||Type|
|Canada||CAD, USD||regular||caLocal or usLocal|
|United States||USD||regular, fast, wire||usLocal|