Yoco is proud to be the first payments provider in South Africa to offer Instant Payout – the speedy service that gives you access to the money you've made in minutes, so that you can manage your cash flow challenges as they happen.
Instant Payout is supported by most banks in South Africa and is available to all Yoco merchants through the Yoco App.
What do you need to know about Instant Payout?
You can request a minimum of R50 and a maximum of R10,000 from your eligible balance.
The amount you request will be deducted from your balance and paid into your bank account immediately. Your remaining balance will be paid out as usual, according to our standard payout schedule.
You can request one Instant Payout per day, 365 days a year.
The only time you can’t request an Instant Payout is between 5am and 7am each day.
✨ Do you run a late-night business?
If you think you’ll need cashflow in the early hours of the morning, request your Instant Payout before the clock strikes twelve and your balance resets to zero!
Before you submit an Instant Payout request…
Check the table below to make sure that your bank supports Instant Payout.
ABSA Bank | Discovery Bank | Investec Bank | Standard Chartered |
Access Bank | Finbond Mutual | Mercantile Bank | Tyme Bank |
African Bank | First National Bank | Nedbank | WesBank |
Al Baraka Bank | FirstRand Bank* | Rand Merchant Bank |
|
Bidvest Bank | HBZ Bank | Sasfin Bank |
|
Capitec Bank | HSBC | Standard Bank |
|
*Owners of FNB, WesBank and RMB
💡 Good to know: If your bank doesn’t support this service, the following error message will pop up when you select the Instant Payout button in the Yoco App.
How do you request an Instant Payout?
Open the Yoco App.
Select the Money tab from the menu at the bottom of the home screen (Mobile App) or the menu on the left of the home screen (Web App).
Select the black Instant Payout button.
An ‘Available for Instant Payout’ amount will appear on the screen. This is your eligible balance. Enter the amount you’d like to request as an Instant Payment under ‘Request amount’.
Once you’ve entered an amount, the ‘Instant payout fee’ will appear on screen and an amount will appear next to ‘You receive’. This amount is what will be paid into your account once the Instant Payout fee has been deducted.
Click the Transfer now button to complete your Instant Payout request.
💡Good to know: To view all your previous payouts, go to the Money tab in the Yoco App and select the Payouts tile.
✨ What's that line item?
An Instant Payout reflects as a separate line item on your bank statement as follows: Yoco IP XXXXXX where IP stands for Instant Payout and the last six characters represent the unique number we assign to each business.
Instant Payouts don’t reflect on your monthly sales report.
What are the fees for Instant Payout?
The fee for an Instant Payout of R1000 or less is a minimum flat rate of R17.25 (incl. VAT).
The fee for an Instant Payout between R1000 and R10,000 is 1% (ex. VAT) of the requested amount.
Real-world examples
If you request R50 as an Instant Payout, you’ll pay a fee of R17.25 (incl. VAT) and receive R32.75 in your bank account.
If you request R5000 as an Instant Payout, you’ll pay a fee of (5000 x 1.15%) R57.50 (incl. VAT) and receive R4942.50 in your bank account.
✨ Factor in the fees!
Whenever you request an Instant Payout, remember to request the amount you need, plus the Instant Payout fee.
For Instant Payouts between R1000 and R10,000 use the formula amount requested x 1.15% to work out the fee, incl. VAT.
What is your eligible balance?
Your eligible balance is the amount of money that’s available for an Instant Payout and it reflects as ‘Available for Instant Payout’ when you request an Instant Payout via the Yoco App. Your eligible balance includes all the Yoco transactions you’ve made, less any applicable fees, refunds, chargebacks, Instant Payout and Capital repayments, since the last time a Yoco payout was processed for your profile.
Eligible balance vs payout amount
Your eligible balance may differ from your payout amount if you have transactions that are under risk review and are therefore not available for payout, or if your account is under review. If either case applies, we'll send you an email with more details.
When is Instant Payout unavailable?
When your Yoco profile is still being verified (Check your verification status)
When you haven’t added your bank account details to your Yoco Profile (Add your bank details now)
When you haven’t completed any transactions on the day you’re requesting an Instant Payout – Instant Payout is only available on transactions completed up until midnight on the day of your request.
When your eligible balance is less than R50.
When you’ve already requested one Instant Payout for the day.
When your bank doesn't support Instant Payouts.
When you submit an Instant Payout request between 5:00am and 7:00am, as the service is paused during this time.
✨ Unable to request the amount you want as an Instant Payout?
Check that your Instant Payout request isn’t below the R50 minimum request amount or above the R10,000 limit, or that it doesn’t exceed your eligible balance.
Can you request Instant Payout on Yoco profiles with the same bank account?
Do you have more than one Yoco profile linked to the same bank account? Good news: you can request an Instant Payout on both profiles on the same day, as long as you request different amounts on each profile. The amounts only need to differ by R1 less or more – this ensures that the banking system doesn't flag it as a duplicate payment.