What will show up on my bank statement?
Payouts from TowPay appear on your bank statement as "TowPay."
If you have multiple locations using TowPay, contact us to request a custom name for your payouts on your bank statement.
How often do I get paid?
TowPay supports daily, weekly, or monthly payouts. Daily payouts are the default for new accounts.
How do I change my payout frequency?
You can adjust your payout frequency anytime in your Stripe Dashboard.
How long does it take for a transaction to reach my bank?
Standard payouts typically arrive in your bank account 1-2 business days after Stripe submits them to your bank. The full timeline depends on a few factors:
Settlement timing: Your account has a settlement period (shown as "T+X" days) that determines when funds from a transaction become available for payout. For US accounts, this is typically 2 business days after the transaction is captured.
Bank processing: Once Stripe sends the payout, most banks deposit the funds the same day they receive them, though some take 2-3 additional days to post them.
Weekends and holidays: Payouts sent on weekends or bank holidays won't be processed by your bank until the next business day.
Example: If you're on a daily automatic payout schedule with 2-day settlement (T+2), a charge captured on Monday becomes available on Wednesday, and Stripe sends the payout that day. Your bank typically posts it Wednesday or Thursday.
Why does my deposit timing look different from what I expected?
A few things to keep in mind:
All payout processing runs on UTC (Coordinated Universal Time), not your local time zone. For example, a transaction made before 11:59 PM UTC on Monday would be deposited Wednesday. 11:59 PM UTC is 4:59 PM PST / 7:59 PM EST.
Deposits only go out on business days. If a scheduled deposit date falls on a holiday, it will go out on the next available business day instead.
Where can I view my payout details?
You can view all your payout details in the Payouts section of your Stripe Dashboard (under Balances > Payouts).