How do payouts work?

Once your business has been verified by us, and you've been successfully active on the platform for a few weeks, we will make payouts to your chosen payout method Monday to Friday, with funds typically being paid out two (2) business days after the date of the charge. You can choose to receive your payouts onto your Nomod Card or directly into your bank account.

Your First Payouts

When you first sign up, payouts typically take a little longer in order for us to be able get visibility on your activity, so for the first couple of weeks, it may take up to 5 business days for a charge to mature, and during this period payouts take place twice a week (on Mondays and Thursdays). For example:

Day of charge Eligible for payout Paid out
Monday Following Monday Thursday
Tuesday Following Tuesday Thursday
Wednesday Following Wednesday Thursday
Thursday Following Thursday Monday
Friday Following Friday Monday
Saturday Following Saturday Monday
Sunday Following Sunday Monday

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.

Minimum Payout

If you choose to receive payouts to your bank account, we need to apply a minimum payout threshold to ensure that payouts aren't cannibalised by bank fees. Payout thresholds vary by currency and currently are:

Currency  Payout threshold
USD USD 100.00
AED AED 200.00
EUR EUR 100.00
GBP GBP 100.00

Payout Currency

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, or if you choose to receive payouts to your Nomod Card, 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.

Payout Method

We provide you with a selection of payout methods depending on your business location and payout currency, including paying out to your Nomod Card or directly into your bank account. Simply choose your preferred method by going to Settings > Payout Method in your Nomod app.

Some bank 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’re working hard to add more settlement currencies and improve the speed of payouts!

Connecting your Stripe Account

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.

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