Payout Schedule

When a client pays for a service via card or online booking, the funds are first held by the payment processor before being transferred to the salon's bank account. The payout schedule determines how frequently this transfer occurs.

Common payout schedules are daily, weekly, and monthly. Daily payouts minimise the time between a client paying and the funds reaching the salon's account, which is beneficial for cash flow. Monthly payouts mean the salon may wait up to 31 days before accessing revenue already earned.

For small salons with tight cash flow, the difference between a weekly and a monthly payout schedule can be material. A busy salon processing $50,000 per month could have $10,000 to $40,000 sitting in their processor's account at any given time under a monthly payout schedule, compared to no more than $10,000 under a weekly schedule.

Payout schedules are set by the payment platform. On OpenChair, Free plan venues have monthly payouts. Pro plan venues have the option to switch to weekly payouts, which improves cash flow for venues processing meaningful card volume.

It is worth noting that payout schedules refer to the settlement of card payments. Cash payments are immediately available. Deposits paid at booking time are typically held until the appointment is completed, at which point they are included in the next scheduled payout.