Payouts, also know as Deposit or Funds Transfer, are issued every week with funds being available on Friday, in most cases. Bank holidays and in the rare event - account verification request, will alter payout schedules.
Funds are deposited in the official currency of the country of registration. While donors may give from anywhere in the world (with some rare exception), the transaction occurs in the organization's native currency.
United States Dollar
Payouts occur every week accompanied by an email notification of pending funds with applicable deposit tracking ID. For organizations with batch deposits, each transaction is associated with a given Deposit ID for fine-tuned reconciliation.
Rolling Two-Day Settlement - Every Week, Friday
For example, funds raised by Monday will be available for deposit on Wednesday.
When responding to support tickets, we will always refer to these support topics first and we encourage all organizations to do the same. However, should any issue not be addressed, please write in and we'll gladly respond and perhaps add it here.
No. You may update your banking information but Philantro only deposits to a single bank account per scheduled payout.
Once a deposit is in progress, your old bank must reject the deposit for the funds to be reissued. Any concerns regarding the funds once deposited should be directed to the banking institution directly.
If you are a new registrant, your first deposit might be delayed during the verification period. If you are not a new registrant, have verified your banking information and have contacted your bank on the status of the pending deposit, please let us know.
Believe it or not, we've seen this happen a hand full of times. First - update your banking information immediately. Next - If the bank rejects the deposit, the outstanding funds will be included on the next scheduled payout to your correct bank account.
No, not at this time.
If your account has failed identity verification, funds will be placed on hold until verification succeeds. Funds are not lost, simply not paid out until the verification measures, as required by applicable KYC regulations, are satisfied. The best protection against such actions are to furnish all required information accurately during on-boarding.
Deposit Notifications are delivered to the email address of the user you've assigned to receive them. You can control the recipient for each notifications.