Receiving payouts

For you to receive funds, Fintoc makes payouts to your bank account. In Chile, one payout covers every payment method Fintoc collects with on your behalf: bank transfers, cards, installments, and payment buttons. Fintoc disburses recurring charges in a separate payout. Payout availability depends on the country where you operate. Fintoc processes payouts according to your chosen payout schedule. Fintoc deducts fees from each daily payout based on your pricing plan. For more details on how Fintoc calculates fees, see the Fintoc Fees Guide.

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Adding your bank account information

You need to have a bank account located in the country you are operating in. Fintoc does not support cross-border payouts. The bank account owner also needs to be the company that signed the contract with Fintoc.

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Updating your bank account information

To change the bank account that receives your payouts, or to correct its details, contact your Account Executive. If you don’t have an Account Executive, contact Fintoc support from the chat in your dashboard or at soporte@fintoc.com. Use support if you signed up through the Shopify app. Send the following details for the new account:

• Account holder’s legal name
• Account holder’s Chilean tax ID (RUT) or Mexican tax ID (RFC), which must match the tax ID of your Fintoc organization
• Bank
• Account type
• Account number

The new account must belong to the same company tax ID (RUT in Chile, RFC in Mexico) you registered with Fintoc. Fintoc can’t send payouts to an account owned by a different person or company. Once Fintoc confirms the change, the next payouts go to the new account.

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Canceled payouts

A payout shows as canceled (canceled, or “cancelado” in the Spanish dashboard) when Fintoc tried to send it and the transfer to your bank account failed. The most common reasons are:

• Invalid bank account details. Your bank rejected the transfer because the registered details, such as the tax ID, the account number, or the relationship between the two, don’t correspond to a valid account.
• Monthly deposit limit reached. Some bank accounts have a monthly limit on deposits. Once your account hits that limit, your bank rejects new transfers until the limit resets, usually at the start of the next month.

When a payout is canceled, you don’t lose the funds. Fintoc keeps the amount and adds it to your next payout attempt. Each later payout includes the pending balance plus that day’s payments, until a transfer succeeds. Because of this, don’t add up the amounts of your canceled payouts. The successful payout already includes them. To resume your payouts:

• If the account details are invalid, update your bank account information. Fintoc sends the accumulated balance in a later payout to the corrected account.
• If your account reached its monthly deposit limit, Fintoc retries the pending payouts once the limit resets. You can also change to another account that belongs to your company.

Fintoc sends a payout.canceled webhook every time a payout is canceled.

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Small payments and fixed fees

If your pricing plan includes a fixed fee per transaction, payments below that fixed fee may not generate a payout. When the fees are equal to or greater than the amount you collected, the net amount is zero or negative, so Fintoc has nothing to send. Once you collect payments that cover the fees, Fintoc resumes your payouts as usual. See the Fintoc fees guide to learn how Fintoc calculates fees.

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Payout schedule

Your payout schedule refers to how often Fintoc sends money to your bank account. You can see the available payout schedules by country below.

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Chile

In Chile, Fintoc has two payout schedules available. The default payout schedule is daily with banking cut-off time. To change your payout schedule, contact your Account Executive.

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Daily with banking cut-off times

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Daily with business days cut-off times

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Mexico

In Mexico, Fintoc supports only one payout schedule.

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Daily with business days cut-off times

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Payout notifications

When the Settlement email toggle is on, Fintoc sends you an email with the payout reconciliation report for each payout Fintoc makes to your bank account. See the reporting and reconciliation guide to learn more. Settings in your dashboard has a Settlement email toggle in the Communication tab. Turn the toggle on to receive this email, off to stop receiving it. What to know about the toggle:

• Who receives the email: the operational email in the Communication tab. When you set no operational email, Fintoc sends the email to your organization’s main email.
• Starting state: organizations that already received the email keep the toggle on. New organizations start with the toggle off.
• What the toggle covers: payout emails for bank transfers, cards, and the separate payout for recurring charges.
• Who can change it: a user with the Manage access level on Organization settings. See Permission roles.

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Using the Dashboard

You can see all past and future payouts from your dashboard by selecting the Payouts tab in the left sidebar.

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Using the Payouts API

The Payouts API lets you manage payouts through these endpoints:

• List Historical Payouts: Retrieve a list of all historical payouts.
• Retrieve Specific Payout: Fetch details of a specific payout.
• Get Payout Resources by Type: Access all the resources included in a payout.
• Webhooks: Receive notifications when a payout starts processing and when it arrives in your bank account.

You can get more information about each method in our API Reference.

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Webhooks

Fintoc employs webhooks to keep you informed throughout the payout process. Here are the key events we trigger: