How payouts work

A payout is a deposit from MyGreek into your chapter's bank account. Card and bank payments from members are grouped together, and each group goes to your bank as one payout. This page covers where to find payouts, what each status means, when money arrives, why a payout can be less than what members paid, and how payouts work when some charges pay out to a separate merchant.

Anyone with the View Payouts permission can see payouts. Only chapter admins can see or change the chapter's payout account (a separate merchant's account is changed by that merchant's managers).

Where to find your payoutsCopy Anchor Link

1. Select your profile picture in the top-right corner and choose My Chapter.
2. Open the Payouts tab.

At the top you'll see your Payout Account (admins only) and four totals: Total Amount, Completed, Pending and In Transit. Below them are three tabs:

• Payouts: every payout that has closed, with its Status, Amount, Arrival Date and Created date. Select a payout to open its details. See See what's in a payout.
• Accruing Payouts: payouts that are still collecting payments.
• By Date: an estimate of how much should land in your bank on each business day of the week, based on when members paid. Bank holidays show a dash.

Each charge type also has its own Payouts tab that shows how much of each recent payout came from that charge type.

Payouts in the mobile appCopy Anchor Link

The mobile app has no payouts screen. Admins can check the Pending Payout card on the mobile app's Payments tab: tap it to see how many completed payments haven't been paid out yet and the amount and date of the Last payout. For the full list, the breakdown of each payout and the payout account, use My Chapter → Payouts in the web app (it works in a phone's browser too).

Payout statusesCopy Anchor Link

When payouts arriveCopy Anchor Link

The Payouts tab puts it in one line: Card payments are paid out T+1 business days, bank payments are T+4. That means one business day after a card payment, and four business days after a bank (ACH) payment. Apple Pay and Google Pay count as card payments.

Payments made late in the day count as the next day:

• Card payments made at or after 9 PM Central count as the next day, any day of the week.
• Bank payments made at or after 7 PM Central, Monday through Thursday, count as the next day. Bank payments made Friday evening or over the weekend count as the next business day.

Weekends and bank holidays aren't business days. This is the same rule the By Date tab uses. It's an estimate: a payout can sometimes land a day earlier or later.

Add a business day for each bank holiday in between. Once the money is sent, your bank decides when it shows in your account.

Why a payout doesn't match what members paidCopy Anchor Link

A payout is the net amount: what members paid, minus anything taken out before the money reached you. The usual differences:

• Processing fees. If your chapter passes fees on to members, their convenience fees cover the processing fee and the chapter pays only any difference. If not, the chapter pays the processing fee. See Choose who pays processing fees.
• Refunds you gave members. See Refund a payment.
• ACH returns and disputes. When a bank payment bounces or a card payment is disputed (a chargeback), the money is taken back, along with an ACH return fee or chargeback fee. A dispute you win is added back. See Returned bank payments and disputes.

If more comes out of a payout than went in, the payout is negative. Instead of a deposit, that amount is withdrawn from your chapter's bank account, and the payout details say Withdrawal instead of Deposited.

To see exactly what's inside a payout, open it from the Payouts tab. See See what's in a payout.

Payouts to a separate merchantCopy Anchor Link

Some chapters collect certain dues for a separate merchant, such as a housing corporation. MyGreek sets these merchants up; contact support@mygreek.us to add or change one.

• Which charges pay out where. A charge type's Pays out to setting is either Chapter (the default) or a merchant. Charge types that pay out to a merchant show that merchant's name as an amber badge next to the charge type's name, and the rest show a gray Chapter badge.
• Separate payouts. Payments for those charge types go into that merchant's own payouts, sent to the merchant's own payout account. They never mix with the chapter's payouts.
• Where you see them. Merchant payouts are listed on the same Payouts tab, with a Merchant column showing whose payout each one is. A payout's details show the merchant's name next to Payout #.
• Their payout account. Each merchant's payout account is in My Chapter → Merchants, and only that merchant's managers can change it. See Change your payout bank account.
• Members pay them separately. A member can't pay a chapter charge and a merchant's charge in one payment. The app tells them: These charges are paid to different accounts — pay them in separate transactions.

Payout emailsCopy Anchor Link

When a payout is approved and on its way, chapter admins get an email with the subject MyGreek Payout On Its Way, plus a push notification in the mobile app. The email breaks the payout down by section, the same way the app does, and has a View payout details button. For a negative payout the subject is MyGreek Payout Withdrawal Scheduled.

To stop getting these yourself, go to Settings → Admin Notifications and turn off Payout Updates. Alerts about a returned payout always go to every admin and can't be turned off.

Common questionsCopy Anchor Link

Why is my payout less than what members paid?Copy Anchor Link

A payout is what members paid minus processing fees, refunds, ACH returns and disputes. Open the payout from My Chapter → Payouts: its Refunds, ACH returns & disputes and Fees sections show each amount taken out. See See what's in a payout.

A member paid days ago. Where's the money?Copy Anchor Link

Check the timing table above: bank payments take four business days, and weekends and holidays don't count. Payouts still collecting payments are on the Accruing Payouts tab, and the By Date tab estimates which day each amount should land.

Why don't I see a payout for some charges?Copy Anchor Link

If those charge types pay out to a separate merchant, their money goes into that merchant's payouts, not the chapter's. Look for the merchant's name in the Merchant column.

RelatedCopy Anchor Link

• See what's in a payout
• Change your payout bank account
• A payout was returned by your bank
• Set up what you charge
• Statuses