Bank accounts
To create a new bank account for an owner, follow these steps:- Navigate to the owner account you want to create a bank account for.
- Under the Payout information section, click Add.
- Fill out the information, there are different requirements for each country.
Multiple bank accounts
By default, Yorlet will pay out funds to the external account that you have specified on the owner account. If you need to generate payouts for specific units, you can override the external account for each unit and create payouts for multiple destinations. To do this, navigate to the Unit Ownership page and select the unit for which you want to override the external account. Then, add a bank account to be used for payout generation.Automatic payouts
By default, Yorlet is configured to automatically process payouts on a daily rolling basis. This means that when payments are transferred to owner balances and accumulate, Yorlet will automatically create a new draft payout every day for owners with a positive balance.Payout schedule
You can configure the payout schedule for each owner individually. There are four possible scheduling settings:- Manual: prevents automatic payouts. You will have to manually pay out the owner’s balance.
- Daily: automatically pays out charges after they become available in the owner’s balance.
- Weekly: automatically pays out the balance once a week, on a specified day.
- Monthly: automatically pays out the balance once a month, on a specified day. Payouts scheduled between the 29th and 31st of the month are instead sent on the last day of a shorter month.
Automatic approvals
By default, new payouts remain in thedraft
state until they are manually reviewed and approved. However, you have the option to enable automatic approvals for the owner’s account, which will approve new payouts automatically.
This is an advanced setting that automates the payout approval process. We recommend ensuring that all your fees are correctly configured before enabling this setting.
Payout transaction grouping
You can configure how you’d like to handle payouts for multiple units. The transaction grouping options are:- All: will generate a single payout for all units.
- Per unit: will generate a payout for each unit.
Manual payouts
To create a manual owner payout, follow these steps:- Navigate to the owner account you want to create a payout for.
- Under the Balance section, you can click on the overflow menu (•••) and select Create payout.
- Fill out the information. When specifying a unit, the payout will be generated only for that unit. If you do not specify a unit, the payout will be generated for all units.