Explained: payment schedules

At Lopay we believe you should have total control of your money. Which is why we give you flexibility to choose when you get paid, and change your payout schedule whenever you like. After all, you’ve earned it.

Open the Lopay app, tap ‘More’ and then ‘update your schedule.’ You’ll find 3 options for when your money will be paid into your bank account – Weekly, Next Day, and Instant.

Weekly

0.79% for UK Visa & Mastercard, 1.79% for Amex & international cards.

Like all our payment schedules, Weekly does what it says on the tin – you’ll get paid into your bank account on a weekly basis. Payments are made every Thursday, as long as your balance is at least £1.

Weekly payouts work well for business owners looking for the lowest possible rate and a consistent payout schedule.

Next Day

0.99% for UK Visa & Mastercard, 1.99% for Amex & international cards.

Next Day payments are settled one business day after the transaction. This means payouts are made Monday to Friday, typically before midday, as long as your balance is at least £1.

Next Day payouts work well for users who like to get paid daily but still want to pay far less than with other payment solutions.

Instant

1.79% for UK Visa & Mastercard, 2.79% for Amex & international cards.

Instant payouts are truly instant, 24 hours a day, even on weekends and bank holidays. This is a great option if you don’t want to wait to see your earnings in your account, or perhaps just need a little extra for the weekend.

In order to keep our fees low, we’ll only trigger an instant payout once your balance is £50 or above – so if every payment you take is £25, you’ll get a payout every other transaction. You can still get an instant payout if your balance is below this threshold, we’ll just round up the fees to the equivalent of a £50 payout. (In most cases this will be a few extra pence.)

Not taking advantage of Lopay’s flexible payouts yet? Tap the button below to try it out for yourself.