How do I set up automated Payouts?

When you receive payments via PayFast, the funds will be added to your PayFast account. 

A Payout needs to happen to withdraw these funds after the 48 hour withdraw delay into your selected bank account which was linked to your PayFast account during the signing up and verification process. 

This can be performed manually from your PayFast Dashboard as follows:

New PayFast Dashboard

Old PayFast Dashboard

You can also create an automated Payout to receive your funds at regular intervals. On the Legacy PayFast Dashboard simply click Add (see image above) to set these up. It can be done on the New PayFast Dashboard as follows:

There is a small fee associated with each Payout so it is recommended to use a weekly or monthly time interval with a minimum amount of R1,000. The minimum amount means that the payout will only occur on the specified date if at least that value is available in your account. 

Please note: The amount will show in your bank account within two working days. To reduce the risk of fraud, funds are only eligible and available for Payout after a 48 hour withholding period. A retained balance might also be implemented for the same reason.

• Related Articles

• Can I set up a tokenization payment agreement without charging the customer?

  Yes, the initial amount on an ad hoc agreement can be set to zero. This will create the token that will then be used for charging future payments. Because some banks don't support zero amount authorisations, the buyer may be charged a nominal amount ...

• Is my PayFast account a bank account?

  No, your PayFast account is not a bank account. It is electronic money stored in an online stored-value account.  Any funds in your account can be moved to your bank account by clicking the Payout button on your dashboard.  If you have a high volume ...

• How do I request a Payout?

  In order to payout the funds in your PayFast account you will have to enter your banking details for your account on the Account page and then request a Payout. We will then process a payout to your account. Please note that there is a fee for ...

• Is there any interest paid on funds left in my account?

  No interest is paid on funds in your PayFast account. Scheduled payouts can, however, be set up to pay funds out to your bank account on a scheduled basis.

• How do I set my logo to appear on the PayFast payments page?

  You can control some of the branding on the PayFast payments page, i.e. the page where your customers enter or see the transactional information. Specifically, you can display your registered name, trading name, site URL and logo. New PayFast ...