What amount was transferred to my bank?

Mighty automatically makes transfers of your full paymto your bank account each day. The amount you collected from your customers may differ from the amount you receive in your bank account, however. There are two potential reasons for such differences:

1. Payment processing fees have been deducted
   • As with all card payment processors, a fee is charged for each transaction processed via our platform. The processing is managed by Stripe, one of the most secure and trusted payment partners in the world.
   • If you elect to cover for these fees as a business, the payout you receive will exclude the amount charged for payment processing. You can see the rates in this support article.
     • Alternatively, you may be able to pass processing fees onto your customers. To learn more, click here.
       
       
2. Your balance exceeded the payout limits for the seven-day introductory period
   • During your first week (7 days) using Mighty Payments, the daily payouts will be limited to $1,000 USD (or GBP/CAD/AUD/NZD, depending on your account currency). This security measure helps prevent fraud that can negatively affect you and/or your customers.
     • For example, if you receive a payment for $2,000 on your first day using Mighty payments, $1,000 will be transferred to your bank that day and the other $1,000 transfer will be initiated the next day.
   • At the end of the first day after the introductory period, a transfer of your full payments account balance to your bank will be initiated.

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