How does Skool payout work?
Whenever you make money by selling memberships or courses within your group, the funds accumulate and are paid out to your bank account. Funds are available for automatic payout after 8 to 14 days. This delay is by design.
- Click the SETTINGS button in your community.
- It should be blank if you're just setting up your group. Once you get some subscribers or course payments, feel free to check the Dashboard tab again.
- Once you see a non-zero number either in the MRR or the Course sales tab, view the Payout tab for the most updated balance. Payouts occur once a week, every week on WEDNESDAYS automatically to your connected bank account.
- It takes around 8 to 14 days for the funds to become available for the payout since your first payment. It's every 7 days from the second payout onwards. In order to ensure the security of all our users, the initial payout undergoes additional verification and may require a slightly longer processing time to reach your bank.
Note: For the payout to be initiated, the group subscription has to be active. Archived and payment error groups won't initate a payout.
Reasons for delay:
Bank related delays - Bank processing can be delayed by weekends and holidays. Once the bank has finished processing your payout, the funds will be deposited into your account automatically.
Account verification issues - Check SETTINGS > Payouts tab if additional information is required to verify your account.
Reasons for failure:
In most cases its due to bank account number being incorrectly typed in, type of the account being wrongly choosen, or the name on your account not matching exactly as is.
Setting up your payout:
How to setup US bank payout - https://help.skool.com/article/78-how-to-setup-skool-subscriptions
How to setup all other regions' payouts - https://help.skool.com/article/240-how-to-set-up-payouts-new