You choose when you want to receive your income
Flexible payouts is a practical solution for organisers who want a more flexible method of handling refunds. As standard, LetsReg pays out to you every 7 days, however you can extend this to ensure that you have funds available for automatic refunds to your participants and bookers.
When purchases are refunded automatically using LetsReg, certain conditions must be met:
1. The purchase must be made by card, and it must not be more than 90 days since the purchase was originally made.
2. You must have enough money available in your organiser account on LetsReg to complete the refund.
LetsReg’s standard weekly payouts mean funds are regularly transferred to your bank account. However, this may leave your LetsReg account balance too low for automatic refunds. By opting for flexible payouts, you can extend the time before payouts are processed, ensuring that funds remain within your LetsReg account for longer. This buffer can cover refund requests automatically without delay, to ensure a smooth experience for you and your customers.
Extend the payout delay days
Enter the desired number of days that you wish to add to the standard payout delay of 7; this will ensure that there are funds within your LetsReg account for longer that can be used for processing automatic refunds.
Refunds are made automatically
In the case of refunds, the sum will be deducted directly from your settlement before the system automatically refunds the amount to your customer’s bank account.
The money is linked to the bank account assigned to the specific event or booking page that you are processing the refund from. When you set up events or booking pages in LetsReg, you can assign different bank accounts to different pages. Therefore, pay attention to which bank account you have assigned, as the refund is made from the account number assigned to the event that your participant is being refunded from.