How do bank holidays impact my payouts?
As we rely on third-party service providers to process transactions, i.e., banking partners and card schemes (Mastercard, Visa etc. ) and considering that such providers don’t process transactions on bank holidays due to closure, our payout timelines may be extended. This may affect daily or weekly payouts that are scheduled on the week that a bank holiday falls.
What bank holidays affect my payouts?
As many of our banking partners and card schemes are based in Germany and the US, bank holidays in these countries may cause a payout delay. In addition, please consider that local banks are not operating on bank holidays, therefore, they’re unable to process deposits made to your profile.
When will I get my money?
Depending on your bank’s settlement procedures, it may take 1-3 business days following a bank holiday to settle the scheduled amount into your bank account.
Business days are regular weekdays and by definition, exclude weekends and bank holidays.
Your payout will still occur after a bank holiday, albeit a day or two later than typically scheduled. You can easily check the status of your payouts on your SumUp profile and also in Sales History on your SumUp App.
If you’re interested in receiving next-day payouts, check out our SumUp Card. This solution allows us to process and payout your transactions directly to your SumUp Card in just one day, including bank holidays and weekends.