Payment schedules: when do I get paid?

‍If you’re wondering about payoffs, here’s what you need to know. If you haven't connected your Stripe account yet, follow these steps to get started.

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What are “Payoffs”?

A “Payoff” is the transfer Village sends to your connected Stripe account. It includes the payments collected from your customers and their scholarships, minus the Stripe processing fees (2.9% + $0.30 per charge). This transfer represents your business earnings on Village.com.

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Payoffs initiation: when will I receive payment?*

By default, payoff frequency is set to weekly. Every Monday, Village will transfer the payments collected during the last 7 days to your connected Stripe account.

However, you can request our support team to enable daily payoffs, allowing you to receive funds every day. To learn more about enabling daily payoffs, contact our support team. 

Once a Village payoff is initiated, allow a few business days for the funds to appear in your connected bank account. The exact timing depends on the Stripe payout frequency you have set up on your stripe dashboard.

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Payment processing fees

Village providers are charged a payment processing fee of 2.9% + $0.30 for each transaction, which is deducted by Stripe before payoffs are sent to your connected account.

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Payoffs and refunds

If refunds are issued, Stripe does not refund its processing fees, but Village refunds 100% of the order total to customers — meaning you, as the provider, will absorb this cost.

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Payoffs tracking: how do I know when I got paid?

• Email notifications: You will receive an email every time a payoff to your Stripe account is initiated. Notifications are enabled by default, but you can choose to disable them. Learn more.
• Stripe dashboard: Access detailed payoffs information directly through your Stripe account.

🔜 Coming soon, we’ll release a Payoffs Report where you’ll find a clear breakdown of the transfers we've made to your connected Stripe account, helping you track your business earnings over time.

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_{*If you still have payoffs configured to be hold until schedule date, your frequency will be updated to weekly starting on November 4th, 2024.}