Payments - Payouts

all payment payout related article

What happens if the payout of a Payout Link fails due to reasons such as bank downtime or incorrect account details?
If a payout fails due to any reason, the same Payout Link becomes active and moves to the issued state; customers can retry the payout using the same link.
Mon, 9 Aug, 2021 at 6:24 PM
What is a bulk payout and how do we create bulk payouts?
Bulk payout can be used when you want to send payouts to multiple contacts at once. To collect payments from multiple customers follow the below steps: 1....
Mon, 9 Aug, 2021 at 6:58 PM
How many transactions can be processed in a bulk payout file?
Currently up to 1000 transactions can be processed in a single file.
Mon, 9 Aug, 2021 at 6:33 PM
How long does it take to process the bulk payout file?
The time taken to process a bulk payout file will depend on the number of entries in the file. If there are a huge number of entries, the time taken to proc...
Mon, 9 Aug, 2021 at 6:33 PM
Can I cancel the bulk payout file once uploaded?
No. You cannot cancel a file that has already been uploaded.
Mon, 9 Aug, 2021 at 6:34 PM
What will happen if there is an error in the file during a bulk payout?
If there is an error in a specific row then that row will not get processed. The rest of the rows will get processed. Rows that didn’t process can be viewed...
Mon, 9 Aug, 2021 at 6:35 PM
I have uploaded a bulk transfer file but the amount debited from my account is lesser than the total amount of the file. What's the reason for this?
Well, this is because some of the entries didn’t go through due to an error. If there is an error in a specific row, the payment for that row will not go th...
Mon, 9 Aug, 2021 at 6:36 PM
Is there a limit to the fund transfers on Open?
Currently, there is no limit to the number of fund transfers you can make from Open. However, the limit set by the bank on the current account will be appli...
Mon, 9 Aug, 2021 at 6:37 PM
What happens in cases of disputes or chargebacks which are outward?
In case of any disputes/chargeback requests, write an email to us on letstalk@bankopen.co about the issue in detail. We shall raise it with our concerned te...
Mon, 9 Aug, 2021 at 6:47 PM