Getting Paid

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


Payout Guidelines


All card transactions processed through Yoco are paid directly into your bank account!

You provided the bank details for this account in your Yoco Business Portal.

What must I do to receive my first payout?


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

    1. Provided us with your bank details in your Yoco Business Portal.
    2. Provided your Identity Document for FICA.
    3. Transacted a minimum amount of R15.00 in card transactions on your Yoco card machine.

Payout schedule


Day of Transaction (before 7p.m.) Payout Initiated (at 2 p.m.) 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


How long will the payout take?


7p.m. is the end of the banking business day. All of your card transactions, processed in the last 24hours, are added up. At 2 p.m. the next business day, your payout amount is paid out by Yoco. You should receive this amount in 1-2 business days.
 
Any card transactions you process after 7p.m. are considered part of the next day's transactions. These transactions will be included when your total is calculated 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.

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

Is there a minimum amount for payout? 


To receive a payout, your total card transactions for the day must add up to at least R15.00 (before the deduction of our fees). A minimum fixed fee of R1.73 is applicable to all card transactions. 

How much will I be paid out?


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).  
 
All Yoco customers that already use online payments (ie those who have already completed an approved online transaction of R500 and above) before 1 October, will remain on the 2.95% discount until 1 February 2021. For new customers, online payment pricing will start at 3.40% (ex. VAT) from 1 October 2020 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.
 
The same rate is currently applied to both debit or credit card!
 
Here’s an example of how your payout amount is calculated:

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

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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