Scenario

Once you've set up your payout information on the Dashboard, you want to know what happens next. We use Transferwise for the majority of our payouts, and the article below outlines how this works.

Quick Start

More of a visual learner? Check out our video: 

Payouts are processed on the first business day of each month. Once the payout has been sent, you will receive two emails:

  • One from HeySummit, to confirm a payout is on the way
  • One from Transferwise, asking you to fill out your bank details so you can receive your payment.

Please note, you have five days to take action on the Transferwise email before your payment is returned to HeySummit.

  1. What happens if I don't have a Transferwise account?
    You don't need an account with Transferwise to accept your payout - you'll still receive the email to fill out your bank details to receive payment.

  2. If I already have a Transferwise account, should I use it?
    Yes, you can use your existing Transferwise account. Do note that under Transferwise, you can change the settings so payments go automatically to the bank account set up within Transferwise, or you can prompt Transferwise to ask you for bank details with each new payout. Check your Transferwise account for the settings.

  3. Why is Transferwise my only option?
    We want to provide our customers with the most economical, secure, and efficient method for payout. Transferwise has lower fees compared to Paypal and means we do not store your bank information.

  4. What happens if I miss my payout?
    Make sure you add your information before the next scheduled payout. If you miss a payout, we will add it to the next month's payout. If you have any questions, please reach out to us at support@heysummit.com

  5. Is Transferwise going to charge fees?
    There is a charge when converting the payout to your currency.