For New Businesses

For new businesses, Stripe states:

“When you start processing live payments from your customers with Stripe, you won’t receive your first payout until 7–14 days after receiving your first successful payment. The first payout usually takes a little longer to establish the Stripe account.”

Standard Payout Timing

The standard payment times depend on the country your business is based in. Here’s the standard payout timing by country:

• 2 Business Days – Applies to: Australia, United States (except businesses in higher-risk industries)
  • Payouts of your available account balance are made daily and contain payments processed two business days prior. For example, payments received on a Tuesday are paid out by Thursday, and payments received on a Friday are paid out by Tuesday.
• 4 Business Days – Applies to: New Zealand
  • Payouts are made daily and contain payments processed four business days prior. For example, payments received on a Monday are paid out by Friday.
• 7 Calendar Days – Applies to: All Other Countries (except Japan and businesses in higher-risk industries)
  • Payouts are made daily and contain payments processed seven calendar days prior. For example, payments received on a Tuesday are paid out by the following Tuesday.
• 14 Calendar Days – Applies to: High-risk businesses
  • Payouts are made daily and contain payments processed fourteen calendar days prior. For example, payments received on June 1st would be paid out on June 15th.

Alternative Payout Schedules

If you prefer payouts on a fixed schedule, you can choose to receive them weekly or monthly in your account’s payout settings:

• Weekly Payouts: You can specify the day of the week that payments should arrive in your bank account.
• Monthly Payouts: You can specify the day of the month. Payouts scheduled between the 29th and 31st are sent on the last day of shorter months.

Note: Choosing a weekly or monthly schedule doesn’t change how long it takes for your pending balance to become available. For example, if your account was set to a two business day daily payout schedule, it still takes two business days for your pending balance to be available.

Instant Payouts

With Instant Payouts, you can instantly send funds to a supported debit card. Instant Payouts are available 24/7, including weekends and holidays, with funds typically appearing in the associated bank account within 30 minutes.

Note: New Stripe users may not be immediately eligible for Instant Payouts. You can check your eligibility here.

For more information on Stripe’s payment policies, please click here.

If you need any further assistance, please email us at hello@classfit.com.

Step 1: Access Stripe Account

Go to Payments
Log in to your ClassFit account, navigate to the Payments section on the left side menu. It will ask you to enter your Stripe PIN.

Step 2: Access Stripe Express

Enter Stripe Express
You will be redirected to your Stripe Express account. You might be prompted to enter a one-time passcode for security purposes. Once logged in, click on your avatar in the top-right corner of the screen:

Step 3: Update Bank Details

Edit Payout Details
Click on Payout details. Your current bank details will appear on the right side of the window. Click Add an account to input your new bank details:

Remove Old Bank Details
Once you’ve added your new bank account, you should see the option to remove your old bank details. Ensure your new details are saved before completing this step.

If you encounter any issues while updating your bank details, please reach out to Stripe support at support@stripe.com for further assistance.

Note: This tutorial primarily focuses on users with the integrated ClassFit x Stripe dashboard. If you’re located in countries such as Malaysia, Singapore, Mexico, Brazil, Australia, India, Latvia, or Norway where this setup isn’t available, alternative instructions are provided below.

Changing Payout Timings Through Your ClassFit x Stripe Dashboard (NEW)

Go to Payments on the left side menu.

In your Stripe dashboard, click on the pen icon beside Payout Schedule.

By default, your payout is scheduled to the first day of each month. You can modify this to manual payouts or automate the schedule to your preference, including daily, weekly, or monthly payouts.

Changing Payout Timings Through Your Stripe Dashboard

Note: This section is for those not using the ClassFit x Stripe integrated dashboard or those in unsupported countries like Malaysia, Singapore, Mexico, Brazil, Australia, India, Latvia, and Norway.

Log into Your Stripe Account:

• Navigate to your Stripe account and go to the Settings at the top right of the page.
• Select Bank accounts and scheduling under the Business settings section.

Set Up Your Payout Schedule:

• Choose your preferred payout schedule—daily, weekly, or monthly—or opt for manual withdrawals.

If you need further assistance, please email hello@classfit.com.