How do payouts work?
We make payouts to your bank account anywhere in the world, twice a week, on Mondays and Thursdays. Your charges will typically be eligible for payout five business days after a transaction has taken place. For example:
|Day of charge||Eligible for payout||Paid out|
Your first two payouts may take up to fourteen calendar days each to become eligible for payout, whilst we complete verification checks on your business.
Public holidays may affect the timing of your payout. Please refer to Do public holidays affect my payouts? for more information.
We are currently able to make payouts in USD, AED, EUR and GBP. If you're not based in the UAE, Eurozone or the UK, you will currently be paid in USD. If you do not have a bank account in USD, don't worry! Most banks are able to receive funds in USD and will automatically convert to your local currency. Please get in touch with your bank to see if they're able to do this and if any fees may apply.
We provide you with a selection of payout methods depending on your business location and payout currency. Simply choose your preferred method by going to Settings > Payout Method in your Nomod app.
Some payout methods are quicker than others (wires are typically faster than ACH, for example), but your bank may charge you a fee for receiving funds via this method. We currently cover all outbound transfer fees. We recommend you checking with your bank directly if they apply any fees to receive transfers to your account using your chosen payout method.
We apply a minimum payout threshold to ensure that payouts aren't cannibalised by bank fees. Payout thresholds vary by currency and currently are:
We’re working hard to add more settlement currencies and improve the speed of payouts!
If you've connected your Stripe account to Nomod using the Connect feature, any charges processed through your Stripe account will continue to be paid out by Stripe according to your existing Stripe payout schedule, and will not follow the Nomod schedule.