What must I do to receive my first payout?
For us to complete your first payout, you would need to have:
|Day of Transaction (before 7p.m.)||Payout Initiated (at 2 p.m.)||Payout Complete|
|Sunday||Next business day||1-2 days later|
|Public holiday||Next business day||1-2 days later|
How long will the payout take?
Is there a minimum amount for payout?
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!
|Card Transactions (before 7p.m.)||Fee @ 3.39% (incl VAT)||Payout Amount|
|Online Transactions (before 7p.m.)||Fee @ 3.91% (incl VAT)||Payout Amount|
How can I keep track of my payouts?