This article explains how payouts work in Spond Club, when you can expect to receive payments, and how to troubleshoot common payout issues.
How Payouts Work
When you collect payments from members using payment requests, event fees, or booking forms, these payments are aggregated for a specific period based on your payout frequency setting. After the collection period ends, the combined payout is processed and transferred to your bank account.
The payout frequency can be set to Daily, Weekly, or Monthly in your club account settings (Settings → Finance → Club Accounts).
When to Expect Your Payout
The timing of your payout depends on your selected payout frequency:
Daily Payouts: Funds are transferred three days after payment collection.
Weekly Payouts: Payouts occur every Thursday.
Monthly Payouts: Payouts are made on the 3rd of each month.
⚠️ Important Notes:
The transfer itself takes time to process. Expect the payout to arrive in your bank account a few working days after the end of the collection period.
Due to regulations, our payment partner Stripe is required to hold the funds for the first payout for up to 7 business days. This means your initial payment may not arrive until seven business days have passed, even if you selected daily payouts.
For newly created accounts, Spond needs to verify your details before starting payouts. This verification process typically takes up to five business days.
If members pay close to the end of a collection period, their payment may be included in the next payout instead of the current one.
Additional Information
Fundraising campaigns (digital scratch cards etc.) have different payout timelines. These payouts are processed within 14 days after the campaign ends and are sent to the account specified in the campaign settings, not the standard payout frequency settings.
How payouts appear on bank statements: Payments will appear as "Stripe Spond" on your bank statement. In some cases, "Banking Circle, Copenhagen" may also appear.
For more information about managing your club accounts, see Managing Club Accounts and Payment Exports in Spond Club.
Frequently Asked Questions
Where can I find settlement reports and how do I export them?
Where can I find settlement reports and how do I export them?
Settlement reports provide detailed information about each payout to your club account. A settlement report is generated when each payout is completed.
You can view and export settlement reports in Spond Club under Finance → Settlement Reports. For detailed instructions on how to export settlement reports and what they contain, see Settlement Reports in Spond Club.
When will we receive the money?
When will we receive the money?
The timing depends on your payout frequency setting:
Daily: Three days after the payment was made
Weekly: A few working days after the week ends (payouts are processed every Thursday)
Monthly: A few working days after the month ends (payouts are processed on the 3rd of each month)
Remember to add a few working days for the transfer to complete after the collection period ends.
We haven't received our payout. What should we check?
We haven't received our payout. What should we check?
If your payout hasn't arrived as expected, check the following:
Check your payout frequency setting
Go to Settings → Finance → Club Accounts and verify the payout frequency. This often explains why a payout wasn't transferred by a certain date.Verify you're checking the correct bank account
Payouts are transferred to the bank account connected to the specific payout method. If your club has multiple bank accounts, make sure you're checking the right one. In the payout account screen, you can see the last 4 digits of the connected bank account.Check for verification requirements
Go to your payout account settings and check if there are any warnings or required actions. Payouts can be paused if verification requirements are not completed by the deadline. Complete any necessary verification steps to resume payouts.Consider timing for new accounts
For newly created payout methods, the first payout can take longer due to additional verification. Allow up to 7 business days for the first payout.Check with your bank
Verify that your bank account is open and active with no issues or blocks. If a payout failed due to the bank account not being available, contact Spond Support for assistance.
The payout amount seems wrong or incomplete. Why?
The payout amount seems wrong or incomplete. Why?
There are two common reasons for unexpected payout amounts:
Payment timing and collection periods
Payouts are processed according to your selected frequency, and there is a processing delay of a few working days. If members paid close to the end of a collection period, their payments may be included in the next payout rather than the current one.
Example: If you have weekly payouts and some members paid on Sunday while others paid on Monday, the Sunday payments will be in one payout, and the Monday payments will be in the next weekly payout.Transaction fees
The amount shown in Finance → Settlement Reports is the net amount after transaction fees have been deducted. This is the actual amount transferred to your bank account, not the gross amount that members paid.
Export the settlement report to see details about gross amounts, net amounts, and transaction fees for each payout.
Can we speed up payouts?
Can we speed up payouts?
While you cannot speed up the transfer process itself, you can change your payout frequency to receive payments more often:
If monthly payouts are too slow, consider changing to weekly payouts.
If you need a specific payout sooner, you can temporarily change to daily payouts, then change back after receiving the payment.
When you change the payout frequency, any money already collected but not yet paid out will be processed at the next available time according to the new setting. However, the transfer itself still requires processing time and cannot be accelerated.
You can change your payout frequency in Settings → Finance → Club Accounts. For step-by-step instructions, see Payout Frequency.
I received a payout but don't know what it's for. How can I find out?
I received a payout but don't know what it's for. How can I find out?
To identify an unknown payout, check your settlement reports in Spond Club:
For payout methods set up in Spond Club:
Go to Finance → Settlement Reports in Spond Club. These reports detail the contents of each payout, including which payments from members are included.
For payout methods set up in the Spond App:
Settlement reports for app-based payout methods will not appear in Spond Club. The admin who set up the payout method can retrieve the information from within the Spond App (Profile → Payments → Payout method → Export payments).
⚠️ NOTE: Even if two payout methods use the same bank account number, they are treated as separate by Spond. Each has its own settlement report showing only the transactions linked to that specific payout method.