For retailers using Lightspeed Payments for Vend, it will take two business days for transactional funds to be paid out. This pay out is the transaction amount, less associated fees.
To estimate the date you will receive the funds for a specific transaction, add two days after the cutoff time. The cutoff time for all transactions is 11:59 PM Eastern Standard Timezone.
- Transactions made on regular business days are sent at the cutoff time.
- Transactions made on weekends and holidays are sent at the cutoff time of the following business day (i.e Monday for weekends)
See the table below for when pay outs will be expected when a transaction took place before the cut off time (11:59 PM Eastern Standard Timezone) on any given day.
|Transaction date||Deposit date|
When the original transaction amount is processed by Lightspeed Payments, there are fees charged to transfer those funds to your bank account.
Lightspeed Payments will deduct the fees for you. These fees can be charged by:
- Payment processors
- Card providers
All the fees are paid before it is deposited in your bank account. You can see the fees paid in the Payouts section of the Lightspeed Payments merchant portal.
You can see the current status of a payouts in the Payouts section of the Lightspeed Payments merchant portal. Each payout will show one of the following statuses:
- In progress: this payout is still being processed.
- FUNDED: this payout has been sent to your bank.
- Error: there was an error processing this payout.
Please note that some banks may delay processing times depending on the their capacity during periods of high activity.
If you see a FUNDED status in your report with no corresponding deposit in your account, you will need to contact your bank directly to troubleshoot the delay.