Getting Paid

Includes how to ensure you receive your money into your chosen bank account.


Payout Guidelines


With Yoco you are set up to accept all major payment methods as soon as you have added your bank account details and FICA information. Yoco collects payments on your behalf and pays out into your chosen bank account every day.

Get setup for payouts


For us to complete your first payout, you would need to have:

    1. Provided us with your bank details in your Yoco Business Portal, or in the Yoco App
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    2. Provided your Identity Document for FICA.
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    3. Transacted a minimum amount of R15.00 (before the deduction of our fees).


How much will it cost to accept payments from Yoco?


Yoco charges one fee per transaction. For card machine fees (in-person payments), rates start at 2.95% (ex. VAT) for all new customer and goes down as your sales go up. The VAT portion of this fee brings the total to 3.3925% (incl VAT). If your business is registered for VAT, you can claim this portion of the fee back from SARS.

Online payment pricing starts at 3.40% (ex. VAT) for both debit or credit cards, and will tier down in the same way that rates for in-person card payments do. The VAT portion of this fee brings the total to 3.91% (incl VAT). If your business is registered for VAT, you can claim this portion of the fee back from SARS.

Here is an example of how your payout amount is calculated:

Card Transactions (before 7 p.m.) Fee @ 3.39% (incl VAT) Payout Amount
R100.00 R3.39 R96.61
Online Transactions (before 7 p.m.) Fee @ 3.91% (incl VAT) Payout Amount
R100.00 R3.91 R96.09


How long will the payout take?


At 7pm everyday Yoco reconciles your transactions for the last 24 hours so that we can make payment to you by 2pm on the next day. This payout can take 1-2 business days depending on your bank
Any card transactions you process after 7pm are considered part of the next day's transactions. These transactions will be included when your total is reconciled the next day.

 

Given that Sundays and public holidays are not considered banking business days, the payout process will only start on the next business day.


Payout schedule:

Day of Transaction (before 7pm) Payout Initiated (at 2pm) Payout Complete
Monday Tuesday Wednesday
Tuesday Wednesday Thursday
Wednesday Thursday Friday
Thursday Friday Saturday
Friday Saturday Monday
Saturday Monday Tuesday
Sunday Next business day 1-2 days later
Public holiday Next business day 1-2 days later

 

  IMPORTANT: The date of a ‘payout’ or 'payout initiated' refers to the day that Yoco transfers the amount to your bank account and not the day that the amount is received in your bank account. Please allow 1 to 2 banking business days for payout amounts to reflect in your bank account.

 

How can I keep track of my payouts?


You can view all your payouts on both your Yoco Business Portal and Yoco POS app: navigate to Sales and Refunds → Payouts. You will also receive an official invoice once a month, via email, stating all the amounts paid out to you. 
 
Your payout history is recorded on this page and each row can be clicked on to see a list of the individual card transactions that were included in the payout amount. 
 
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