How to Enable Stripe Instant Payouts on WordPress

Do you want to enable Stripe Instant Payouts on your WordPress site?

Access to cash is one of the biggest challenges for small businesses. With Stripe Instant Payouts, you can access the money you’ve earned on your WordPress site immediately.

In this article, we’ll show you how to enable Stripe Instant Payouts on WordPress so you can collect your funds immediately and use them to support your business.

How Do Stripe Instant Payouts Work?

Stripe Instant Payouts allow you to transfer funds to an eligible debit card or bank account within minutes of a transaction. You can request them at any time, including weekends and holidays. The funds appear in your bank account within 30 minutes or less.

The fee is only 1% of the payout amount for businesses in Canada, the European Union, the United Kingdom, and Singapore. For businesses in the United States and Australia, it is 1.5% of the payout amount.

Instant Payouts is currently available to Stripe users in Australia, Canada, Singapore, the United Kingdom, and the United States.

Restrictions include a maximum amount and a maximum of 10 Payouts per day. You can check your daily maximum amount in your Stripe dashboard.

To be eligible for Stripe Instant Payouts, you must have a business or be connected to Stripe. You must also have been processing payments on Stripe for at least 60 days.

Enabling Instant Payouts

The best way to enable Stripe Instant Payouts on WordPress is to use a Stripe payments plugin that supports the feature.

WP Simple Pay not only lets you easily accept payments directly on your WordPress site, but it also allows you to enable Stripe Instant Payouts directly from your admin dashboard.

How to Enable Stripe Instant Payouts

Are you ready to get started with Stripe Instant Payouts and enjoy quicker access to your funds, allowing you to reinvest them back into your business? We’ll guide you through a few simple steps.

Step 1: Install and Activate WP Simple Pay

To begin receiving Instant Payouts, you’ll first need to install and activate the plugin on your WordPress website.

Simply visit the pricing page and choose the best plan for your needs. Once you’ve purchased your WP Simple Pay premium plan, you’ll need to upload the .zip file to your website in the WordPress admin dashboard.

For more details, see this step-by-step guide on how to install a WordPress plugin.

The plugin’s advanced setup wizard will then walk you through setting up your account and connecting your Stripe account.

If you’ve already been using WP Simple Pay to create forms and accept payments on your WordPress website, your Stripe account is likely eligible for Instant Payouts.

Once you’ve finished completing the setup steps, you’ll be shown a success page. You can now create payment forms for one-time or recurring subscriptions.

You can ensure that your Stripe account is connected to your website and in Live Mode by navigating to Settings  » Stripe.

Step 2: Enable Stripe Instant Payouts

So far, you’ve installed and activated WP Simple Pay on your WordPress website and connected your Stripe account. This allows you to create payment forms and accept 10+ payment methods on your website.

The next step is to enable Stripe Instant Payouts. First, return to Settings  » Stripe and click the Instant Payouts tab.

Next, simply click the toggle to Enable Instant Payouts.

Once you’ve enabled Instant Payouts from your Stripe dashboard, you’ll be able to see recent payouts and transactions in the Overview tab.

You can also view payout details in the Balances tab by selecting Payouts.

Step 3: Initiating Stripe Instant Payouts

Now that you’ve enabled Instant Payouts on WordPress, you can follow the steps below to initiate them.

1. Log in to the Stripe Dashboard and go to the Payouts tab of the Balances page.
2. Click Pay out funds instantly.
3. Enter an amount to pay out.
4. Select the debit card or bank account where you want the funds to go. If you do not have an eligible account, enter new debit card (Visa or MasterCard) or bank account details.
5. Click the Payout button to complete your Instant Payout. Funds will appear in the associated bank account within 30 minutes.

That’s it! We hope this article has helped you learn how to enable Stripe Instant Payouts on WordPress.

If you liked this article, you might also want to check out our guide on how to enable Stripe Payment Element in WordPress.

What are you waiting for? Get started with WP Simple Pay today!

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