Thinkific Payments are deposited from your Thinkific account into your bank account. View revenue payouts, deposit schedules, and the status of your payouts from the Payouts Report page of your Thinkific dashboard!
Thinkific Payments is currently in a private release. We will notify you when it is available to all customers.
In this article:
About This Feature
We know that generating sales is a crucial aspect of growing your business. We also know that time spent on payments is time not spent teaching. That’s why we’ve launched Thinkific Payments - to help you sell more courses and spend less time doing it.
When students purchase your courses using Thinkific Payments, the revenue you earn is tracked directly on your Thinkific dashboard. Payouts are then scheduled and deposited in your bank account, so there's no need to integrate with a third-party payment provider.
How to Access Your Payouts Report
To view your Payouts Report, click Market & Sell, and then click Payouts in the menu on the left-hand side of your Admin Dashboard:
For information about payments made to you, from students, check out the Orders Report.
The Payouts Report
In your Thinkific Payments Payout Report you can see the Balance of outstanding payouts, and the history of payment Activity to your bank account. Only the Site Owner and Site Admin(s) can view the Payouts report.
In the Balance table, the Total by currency shows the total payout amount that has not yet been sent to your bank account. The Future payouts column shows the balance that is scheduled to send to your account but is not currently in transit, and the Pending payouts column shows the balance that is currently on its way to your account.
The Activity table shows a history of all of the payouts made to your bank account. This history includes the Date of the payout, Amount paid out, Status of the funds, and the Bank account into which the funds were deposited.
There are 6 possible statuses you will see in your Activity table including Paid, Pending, In transit, Canceled, Failed, and Withdrawn. A payout is Pending until it is submitted to the bank, at which point it becomes In Transit. The time that a payment is In Transit is variable depending on your bank. It could take minutes or a couple of days. We recommend returning to this page after 24-48 hours for updates.
The status then changes to Paid if the transaction goes through, or to Failed or Canceled (within 5 business days).
A payout status of Withdrawn indicates funds from your bank account that were withdrawn when you clicked to refund a Thinkific Payment from the Orders page.
The schedule of payouts depends on the country your business and bank account are registered in, and what kind of business you operate. The standard payout schedule for the United States is two business days, and the standard payout schedule for Canada is seven calendar days. Payouts may take longer if you own a higher risk business.
Please note that your first payout may take longer to process as Thinkific Payments verifies your account. You should receive your first payout within 7-14 days of receiving your first successful Thinkific Payment. Additionally, while most banks deposit payouts into your bank account as soon as they receive them, depending on who you bank with it may take a few extra days for funds to become available in your account.
Frequently Asked Questions
How often is the Payouts Report updated?
The Payouts Report is refreshed frequently, however, information from banks may take longer to appear in the report. For this reason, the report may take up to 24-48 hours to update.
I signed up for Stripe and/or PayPal originally, what happens to the record of payouts from those accounts?
When you sign up for Thinkific Payments, all recurring payments going forward will be processed through Thinkific Payments. If you previously integrated with Stripe, you can log into your Stripe account for records of any payouts to your bank account that were made before signing up for Thinkific Payments.
If you have integrated with PayPal, students will still see the option to pay with PayPal at checkout for courses and bundles with one-time payment pricing. You can log into your PayPal account for records of any payouts to your bank account from these and past transactions processed through PayPal.
For more information, check out our article: Did my student's purchase go through Thinkific Payments, Stripe, or PayPal?
When will I receive my money?
The schedule of payouts from Thinkific Payments depends on which country your business and bank account are registered in, and what kind of business you operate. Typically, you should expect to see payouts to the United States processed on a schedule of 2 business days, and payouts to Canada processed on a schedule of seven calendar days unless your business is classified as higher risk. Please note your first payout may take longer - typically within 7-14 days of receiving your first successful Thinkific Payment.
I own a higher risk business, when should I expect to receive my money?
If you own a higher risk business, payouts will typically be processed on a schedule of 14 calendar days.