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Before you can send payouts to a sub-entity, you must create a bank account payment instrument, so we know where to send the funds. If the sub-entity holds funds in multiple currencies, you can add bank accounts for each currency.
When you send a payout, funds are moved from your platform currency account to the sub-entity's external bank account.
Your sub-entity will not be eligible to receive payouts until it has passed onboarding checks (CSS, KYB, KYC, and PEP) and bank account verification.
With scheduled payouts, sub-entity funds will be paid out as per the schedule agreed during your onboarding. For example, daily, weekly, or monthly.
You can schedule payouts for any day of the week, but those scheduled for a weekend or bank holiday may result in the payment instruction being carried out on the following working day. Additionally, you can configure different payout schedules for each currency the sub-entity holds funds in.
If your payout request was sent successfully, you will receive a 202 response, with the status Pending. If your request was unsuccessful, you will receive a 422 or 429 response containing an error code. See bank payout response examples.