Note: This is only relevant for payment on 1099 tasks. For W2 payout information, tap here.
You can set up your Stripe account to allow you to transfer money from Stripe to your banking institution in three ways.
Review the options below to learn the difference between Scheduled and Manual Payouts.
Scheduled = This is the default option when you create your account, and means that if you do not touch the funds in your account, they will automatically transfer from your Stripe balance to your banking institution with the Weekly Payout. This is the set it and forget it option.
Manual = If the option is set to 'Manual,' the funds in your Stripe balance will not transfer with the Weekly Payout, but will continue to accumulate in your Stripe balance until you manually initiate an Instant Payout.
Automatic = You authorize the system to automatically initiate an Instant Payout to your default payment method on file with Stripe.
Not sure which to choose? Keep your account on Scheduled Payouts. This allows your available balance to transfer automatically during the weekly payout.
📌 Important Notes:
- If your payout method is not eligible for Instant Payouts, your account should be set to Scheduled. Otherwise, your funds will not transfer through the Weekly Payout.
- Once Stripe prepares the money for the weekly payout, the funds are shown as 'In Transit' and are not available for an Instant Payout.
- Do not repeatedly change your account back and forth between payout settings. This can cause issues if you want the funds to transfer with the Weekly Payout.
- Do not delete your Stripe account to resolve a payout issue. Contact Hyer Support by emailing us at Support@gohyer.com.
How Do I Change My Payout Setting?
- In the Hyer app, tap the Settings icon in the upper left-hand corner of the app
- Select 'Payment Hub'
- Tap 'Manage Payout Settings'
- Toggle the switch on or off (if green is showing on the switch, it is turned on)
📌 If you are a new Tasker, Stripe may hold your first payout for 7-10 days. This action is not taken by Hyer and is managed by Stripe.