Tip Payouts - Getting Started

 


Ready to get started with Tip Payouts? Here's what happens next!

This Quick Start Guide outlines the benefits, onboarding process, and how payouts work. Through 7shifts, you can enter tip amounts for each employee and have that money directly deposited into their debit cards after a shift.

In a few simple clicks, you'll be digitally sending employee tips on the same day they're earned.

Got more questions? Get in touch with our Support team - our team is ready to show you everything you need to know!


4 Steps to Get Started

Here are four easy steps you'll need to take to start sending instant tip payouts:


Why teams love 7shifts Tip Payouts (and why you will too!)

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For Admins/ Managers

It's a solution. Counting cash and ensuring that there is enough on hand causes unnecessary challenges at the end of a long day. This includes making trips to the bank to withdraw large sums of cash.

It saves you time.  Automating the process, allows you to move faster and accomplish more on your checklist.  Simplify your pay cycle and manage tips all in one place.

It's reliable. The digital movement of money leaves a paper trail so you can increase accountability. You can rely on reports to look back and see what happened - right when you need it.

Employees love it. It’s not surprising! Tips are deposited instantly and can be done while they're off-site. Boost employee retention and keep your talent happy.

For Employees

It's transparent. Employees can track their payment history and see the exact amount they're receiving.

It's immediate. Quick and immediate calculations mean Employees receive tips in a timely matter. There's no need to wait around on-site, or for payroll to receive tips.

It's safe and secure. Nobody wants to risk leaving work late at night with cash on hand.  Instead, payment information is now stored securely and compactly.


Key Features

Auto Top-up Float Amount

Select an amount that you want in your 7shifts float account at all times. You'll have the flexibility to hold a maximum float amount of $30 000 within your account.

This ensures you'll always have the funds to pay out your staff.  7shifts will automatically top-up funds into the account when the balance falls below the amount you have set. We also recommend that you allocate 4x the amount of your busiest day of tips to account for bank processing times (typically 2-3 business days). 

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Secure Payout Limits 

Each time you send a payment, you're able to send up to a set maximum of $2000 to each employee - and only what is currently the available balance in your Account. This acts as a safety net to prevent typing errors and incorrect amounts from being sent to a payee. 

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Flexible Payout Frequencies

As the user who is initializing the batch, you can determine your pay frequency. Whether that be daily, bi-weekly, or at the end of the week - this will be entirely up to you. We recommend using a consistent frequency and keeping in mind your local labour laws.

Please note that there is a transaction fee associated with each payment.


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