Get setup for payouts
For us to complete your first payout, you would need to have:
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|
|Online Transactions (before 7 p.m.)||Fee @ 3.91% (incl VAT)||Payout Amount|
How long will the payout take?
Given that Sundays and public holidays are not considered banking business days, the payout process will only start on the next business day.
|Day of Transaction (before 7pm)||Payout Initiated (at 2pm)||Payout Complete|
|Sunday||Next business day||1-2 days later|
|Public holiday||Next business day||1-2 days later|