Common use of Payouts Clause in Contracts

Payouts. After we process a Transaction, we will settle the funds into (or out of) the relevant Revolut Business account in your name. We call this account a "Payout Account" in these Terms (but you may be allowed to use it for other things too). You may have more than one Payout Account (for example, for different currencies). How we settle the funds into and out of the Payout Account will be set out in the terms of your “Payout Schedule”, as well as these Terms. Your Payout Schedule will set out the times it takes for us to initiate settlement to your Payout Account and, if different, the times when you can make withdrawals from your Payout Account. We may change the Payout Schedule, suspend any settlement to the Payout Account, or suspend your entitlement to withdraw all or some of the balance of your Payout Account at any time, including after these Terms come to an end. For example, we may do so: ● where there are pending, anticipated, or excessive disputes, refunds, or reversals; ● if we suspect or become aware of suspicious activity; ● if we reasonably determine that we may incur losses resulting from credit, fraud, or other legal risks associated with your activity; ● where we are required to by any applicable rules, obligations or laws; or ● if we have any other reasonable justification. If we suspend any settlement or withdrawal, we’ll let you know why, unless we are legally not permitted to do so. We may also reduce any amount settled to your Payout Account by the amount of any fees, fines, or other amounts you owe to us for any reason. If the amount you owe us exceeds the amount due to you for settlement, we may also recover the amounts from other accounts you hold with us or from any payment method you have linked to your Revout Business account. Once we process a payout to your Payout Account, this will satisfy your Customers obligations to make payments to you. Those obligations will still be satisfied, even if the money has not yet settled because of our rights to withhold all or part of a Transaction under these Terms. To protect ourselves against the risk of providing the Services to you, we will always withhold a percentage of each Transaction value processed for you for a period of time. We call this a "Reserve". The Reserve will be released to your Payout Account after a specified length of time, subject to any other obligations you may have. We will determine the Reserve, and the period of time it is held for, based on our assessment of the risk you pose. The percentage amount may be anywhere between 0% and 100%, and the period of time is also at our discretion. We can change the percentage amount or the period of time at any notice, and we’ll let you know if we do. For example, we may do so if: ● your or your Customers' activities increase the risk of loss to us or to your Customers; ● you have violated these terms or we think you are likely to; ● we think the number of disputes or refunds you have is high; ● we think that the period of time between a Transaction and delivery of your services to your Customer is significant; ● we have any other reasonable basis for doing so. We may fund the Reserve with funds processed through your use of Services, by debiting the Payout Account or by exercising any other right we have to recover funds from you under these Terms. We may allow you to receive payments from customers in different currencies. We may also allow you to receive settlement in any payments you receive from customers in a different currency to what the customer paid in. We call these things a "Multi-Currency Processing"). If you use Multi-Currency Processing, we will identify the currency exchange rate and any fees at the time of the charge. If a Transaction is subsequently reversed (for example, if you or we action a refund), we will apply the currency exchange rate at the time of the reversal, not that rate as at the time of the original charge. Whether you are eligible for Multi-Currency Processing, and the currencies available for it, will be set out in the Revolut Dashboard. We may change these things at any time, without notice.