A small change to card payments
When a parent pays one of your invoices by card, the money currently lands in your wallet straight away. But behind the scenes, card payments actually take 2-3 business days to reach tiney from the parent's bank, so we've been covering that gap each time a payment is made. The way it works is very similar to a "get paid early" benefit, which many other banks or card payment processors offer, and we know how valued it is by our community.
From 3rd June, we're making this benefit more visible. Card payments from parents will appear as Pending in your wallet for up to two business days, then become available automatically. If you need the money sooner, you can just tap Get it now on any pending payment, and it lands in your wallet straight away.
Nothing changes about when you can access your money. You can still have it instantly, it's just a couple of extra taps.
This only affects card payments. If a parent pays by our new Bank Transfer option, the money lands in your wallet instantly, with no pending payment and no ‘Get paid now’ tap needed.
Why we're doing this
We’re bringing things in line with how card payments settle everywhere else, while keeping the Get it now option so you don’t lose instant access. It also gives us more room to work with a wider range of card and banking providers in future, so we can bring in better options as they come up and have backups in place if we ever need them.
If you do nothing, your payments will arrive automatically after two business days. Most of you already leave funds in your wallet for a few days anyway, so you may not notice the change.
Any questions, drop us a message.