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Payout frequency

Updated over 2 weeks ago

You choose whether you want daily, weekly or monthly payments. As part of Spond's verification process, we need to confirm that your details are correct before we start the payouts. This process typically takes up to five business days from when you add the payout method.

  • Daily Payments: Paid out three days from deposit.

  • Weekly Payments: Paid every Thursday.

  • Monthly Payments: Paid on the 3rd of each month.

⚠️ NOTE!
Due to regulations, our payment intermediary (Stripe) is required to hold the funds for the first payout for up to 7 business days after they are received. This means your initial payment may not be transferred to your account until seven business days have passed, even if you have selected daily payouts.


Change payout frequency in the Spond app

How to change the payout frequency in the Spond app


App:

  1. Open the Spond app

  2. Tap your profile picture in the top left corner

  3. Select Payment

  4. Tap the account for which you want to change the payout frequency

  5. Choose the menu option Payout schedule

  6. Select your preferred frequency:

    • Daily

    • Weekly

    • Monthly

  7. Tap Save in the top right corner

Web:

  1. Log in to your Spond profile here

  2. Click your profile picture in the top right corner

  3. Select Payment

  4. From the tabs at the top, click Payout methods

  5. Click the View button to the right of the account you want to change the payout schedule for

  6. Select payout schedule:

    • Daily

    • Weekly

    • Monthly

  7. Changes are saved automatically when you click outside the box


Frequently asked questions

I have selected daily payments, but it's been several days since I received my first payment. Where is the money?


Due to regulations, our payment intermediary (Stripe) is required to hold the funds for the first payout for up to 7 business days after they are received. This means your initial payment may not be transferred to your account until seven business days have passed, even if you have selected daily payouts.

​If the account is newly created, please note that we need to confirm that your details are correct before we start the payouts. This process usually takes up to five business days from when you add the payment method.

How will payments appear on my bank statement?


Payments will appear as Stirpe Spond in your bank statement. In some cases, Banking Circle, Copenhagen may also appear on the bank statement.

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