Article Summary: How to sign up for payments, adjust your payments settings, information on payouts and fees, and frequently asked questions related to payments.
- Processing payments through StyleSeat provides an enhanced experience for your clients
- Improves your search ranking
- Makes it easy to track growth
- Access to new client discovery
- Enables use of our suite of payment protection features
- Safely and quickly receive your funds
Features Unlocked When You Sign Up For Payments
You’ll need to be set up for StyleSeat payments in order to access Smart Pricing, the New Client Connection, and other features that help you grow your business. Appointments associated with any of the Growth Features will require checkout through the StyleSeat app.
Setting up automatic checkout makes it easy to handle your busy schedule and not worry about getting paid. When you enable automatic checkout, appointments will be charged automatically 1-hours after the end time.
- In order to enforce an NSLC policy you must use StyleSeat Payments.
- Clients are required to input a card at the time of booking. If you enforce an NSLC policy and your client cancels within 24 hours of the appointment time or doesn’t show up you will be able to collect a fee.
- Click here for instructions on how to set up your NSLC policy.
In order to be eligible for StyleSeat payments, you’ll need the following:
- Valid social security number or employee identification number
- Bank account routing and account numbers
- Mailing address
- Must be 18 or over to use StyleSeat to run your business.
How to link your bank account to receive payments:
After you sign up, you will see a yellow banner at the top of your app or desktop with instructions on how to set up payments. Once you click on Link Bank Account from the banner you will be directed to a form to begin setting up payments. Please follow the step-by-step guide and fill out all of the fields to complete setup.
Alternatively, you can also set up payments by going to the More or Menu > Payments & No-Show-Protection section in your account.
- Click More
- Click Payments & No-Show Protection
- Click Bank Account
- Add a bank account
- Click Continue
- Verify your identity
Please make sure all information is submitted exactly as your bank has on file for you or you will experience a delay in receiving your payout. Typically, here's how long it takes for a standard payout to reach your bank account:
Weekday appointments checked out:
- Before 3:30 pm PST: 1-2 business days
- After 3:30 pm PST: 2-3 business days
- After 3:30 pm PST on Fridays and through the weekend are processed on Monday and paid out on Tuesday.
NOTE: these times are only estimates, and your bank's processing times may vary. Here's a handy link that goes into a bit more detail on that: Standard Payout Schedule.
- Click More
- Click Payout or Growth
- This will open to a page with a tab for Payout
- Once you’re in your Payout tab, you’ll see at the top your current balance; this number is what will be included in your next payout.
- Below that, you’ll see your most recent transfers and if you pick a date range, you can view the funds you’ve received in that timeframe. The Recent dropdown will show the last 30 deposits you’ve received.
Now you can get your money even faster using Instant Payouts on StyleSeat! Once that's all set up you’ll be able to get your money deposited to your debit card instantly.
- Must already be set up with payments feature
- Approved for next-day payouts - this may take 1-3 business days
- Payout amount must be $50.50-$1000
- Must not have changed bank account or debit card in the last 24 hours
Have not issued another Instant Payout in the last 24 hours - one Instant Payout per day
Completed at least 3 of the following profile setup actions:
- Have at least 3 services added to your service menu
- Have an address
- Have defined work periods
- Have at least 3 gallery images
Be in good standing with our payments processing
You will not be eligible for Instant Deposits if you've had a dispute in the last 30 days (regardless of the outcome of that dispute)
1% fee will apply to every Instant Deposit
Setting up Instant Payouts:
- Click Growth
- Click Payouts
- Click Instant Payouts
- From here, you will be able to input your debit card information to receive payouts instantly.
NOTE: instant payout verification can take 24 hours. Please expect a slight delay to be eligible to instantly deposit funds.
NOTE: prior to verification, your current payout will be processed according to the standard payout schedule. After instant payout approval, you will be eligible to instantly deposit future payouts.
Are you on the Basic Plan?
$0/monthly Basic Plan
- 3% card processing fee for all appointments.
- For each new client appointment we bring you, there is a 25% one-time commission fee.
- % fee for appointments booked through Smart Pricing.
NOTE: All appointments will checkout through StyleSeat Payments via automatic checkout 1-hour after the appointment ends.
Are you on the Premium Plan?
$35/monthly Premium Plan
- 2.75% card processing fee for all appointments.
- For each new client appointment we bring you, there is a 35% (up to $50) one-time commission fee.
- % fee for appointments booked through Smart Pricing.
NOTE: you will have the option to check out appointments as cash or “other” (ie: Venmo, Cashapp, other payment processors) UNLESS your client has opted into paying through StyleSeat as their preferred payment method or the appointment is related to one of StyleSeat’s Growth features.
Why is my payout delayed?
The following factors may cause a slight delay in your payout schedule:
- Making any edits to your bank account or the debit card number used for instant payouts -48 hour hold will occur for bank account updates, 24-hour hold for debit card updates.
- You had a recent refund
Why can’t I make an instant payout after I recently updated my bank account?
There is a temporary hold on instant payouts when a bank account or debit card gets updated. We are unable to override the hold and your payouts will be transferred to your bank account via standard payouts until the hold expires.
Why was there a withdrawal from my account?
When a refund is processed, the funds are paid out by Stripe, our payments processor. Once you have an available balance, those funds are then paid back to Stripe to cover the refunded amount. If there is no balance from appointment revenue, Stripe will attempt to make a withdrawal from your bank account.
Why are my funds only partially available for instant payout?
Depending on the time of day, some of your funds may already be in transit to your bank account via standard payouts. If that is the case, only a partial amount will be available for instant payout.
Why is my payout different then what I expected?
If you used the section on fees to calculate your expected payout and are seeing a discrepancy between your actual payout and your calculation, it is likely due to a refund. If you have not had any recent refunds, contact StyleSeat Customer Service.
What if my payout was transferred to a closed account?
If your payout was transferred to a closed account, it is likely the payout will be rejected and then it will be retried to the updated account. If the payout is not rejected within several business days, it means the account was still open when the payout was transferred. If that is the case, you will need to work with your bank directly to retrieve the funds.
What do I do if I updated my bank account but my instant payout went to the old account?
Updating your debit card to receive Instant Payouts is a separate action from updating your bank account to receive standard payouts. You will need to work with your bank to retrieve the funds that were paid out to the wrong account.
Please be sure to update your debit card to the most current information. Go to Growth → Summary or Payouts → Instant Payouts. From there you will see the option to manage your debit card. (Editing or updating your debit card is only available if you have $50 or more in eligible funds).
Why does StyleSeat need the last four digits of my social security?
In order to most closely comply with federal laws that pertain to online payment processing, StyleSeat is required to collect certain information about our professionals to perform an identity check. This allows us to "weed out" certain individuals who may be on government watch lists, have been involved in fraudulent activities in the past, or are ineligible to do business within the United States. This also ensures that the community you surround yourself with is as high-quality as possible!
More specifically, your social security number is collected by our payment provider in order to comply with federal Customer Identity Protection laws, typically known as "Know your Customer" regulations. These regulations broadly require two things: collecting information, and verifying that the information is accurate.
To be clear, this information is not used to perform credit checks or full background checks, but simply to ensure that our Professionals are who they say they are.
As always, all of your information is safe and secure within our system, as will any new information entered. We continue to strive to provide the highest level of security and encryption possible, making for the safest marketplace for professionals possible.
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Modified on Fri, 22 Sep 2023 at 11:02 AM