We use Wise (formerly TransferWise) for most of our payouts - read on to find out how to set this up.
Once you've set up your payout information on the Dashboard, you want to know what happens next. We use Wise for the majority of our payouts, and the article below outlines how this works.
This article covers a feature that is not offered after November 24, 2021.
HeySummit no longer operates a payout system. By November 24, 2021, all Event Organizers must connect a custom Stripe or PayPal Business account to sell paid tickets for your event. Individual payment providers and attendee imports are now available to all plan levels to facilitate your ticket sales. Pending payout from sales made before this date will still be issued.
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 Wise, asking you to register and fill out your bank details to receive your payment.
Please note, you have five days to take action on the Wise email before your payment is returned to HeySummit.
- What happens if I don't have a Wise account?
You don't need an account with Wise to accept your payout - you'll still receive the email to register and fill out your bank details to receive payment.
- If I already have a Wise account, should I use it?
Yes, you can use your existing Wise account. Do note that under Wise, you can change the settings so payments go automatically to the bank account set up within Wise, or you can prompt Wise to ask you for bank details with each new payout. Check your Wise account for the settings.
- Why is Wise my only option?
We want to provide our customers with the most economical, secure, and efficient method for payout. Wise has lower fees compared to Paypal and means we do not store your bank information.
- 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 email@example.com
- Is Wise going to charge fees?
There is a charge when converting the payout to your currency.