Update Your Tip Payouts Banking Details

Easily manage your Tip Payouts subscription and payment settings directly from within your 7shifts Account. You can conveniently pay for your subscription each month through automatic bank transfers or direct payments from your credit card. Follow the steps below to change and update your banking details.

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Update Your Banking Details.

⚠️ Once the bank account has been updated, it may take up to 10 business days for float top-ups to begin withdrawing from the new account.  

  1. Login as an Admin.

  2. In the left navigation bar, head to Tip Management Tip Payouts > select Banking.

  3. Click on the More options  Screen_Shot_2022-12-01_at_5.26.25_PM.png  icon next to the location you'd like to update.

  4. Select Update bank account:



  5. You'll have the flexibility to (1) Link a new bank account or (2) choose an existing bank account (only bank accounts previously set up in your user profile will be displayed).

    Based on your selection, follow the on-screen prompts to securely connect your bank account.

    ⚠️ If your financial institution is not supported on the web app, start a chat with our Support team for further assistance. Please note that you will be required to provide proof of ownership for security and reporting purposes.



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  6. Review and confirm your new banking details by clicking Next.

  7.  You're done!
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Add a New Location.
  1. Login as an Admin.

  2. In the left navigation bar, head to Tip Management > Tip Payouts > select Banking.

  3. Click + Set up a new location.

  4. Follow the module to set up your Location, float amount, and fee allocation.

  5.  On the Banking Setup page, you'll have the flexibility to (1) Link a new bank account or (2) choose an existing bank account (only bank accounts previously set up in your user profile will be displayed).

    Based on your selection, follow the on-screen prompts to securely connect your bank account.

    ⚠️ If your financial institution is not supported on the web app, start a chat with our Support team for further assistance. Please note that you will be required to provide proof of ownership for security and reporting purposes.

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  6.  Click Next to confirm your banking details. 

  7. Review the float amount being withdrawn from your bank, and click Confirm transfer.

  8. Hit Done, and you have successfully set up this Location's Payment Batch!
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⚠️ Please note: It may take 2-4 business days for funds to appear within the Account.
Edit Float.

Auto Top-up Float Amount

What is it? A selected 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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To edit your float:

  1. Login as an Admin.

  2. In the left navigation bar, head to Tip Management > Tip Payouts > select Banking.

  3. Click on the More Options icon next to the Location you'd like to edit your float for.

  4. Select Edit float:



  5. Enter the amount you want readily accessible > click Adjust:

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  6. Review and click Confirm to complete the transfer of funds into your 7shifts float:

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Transaction fees.

⚠️ Once the transaction fee has been re-assigned, it will only apply to new transactions sent thereafter.

⚠️ If Employees incur the transaction fee, they will see a fee breakdown on their mobile app.

Follow these steps to change who incurs the transaction fees :

  1. Login as an Admin.

  2. In the left navigation bar, head to Tip Management > Tip Payouts > select Banking

  3. Click on the More Options icon next to the Location you'd like to update.

  4. Select  Edit transaction fees:



  5. Select whether the restaurant or employee covers the transaction fees:

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  6. Click Save to complete these changes.
Disable Tip Payouts.
We're sorry to hear that you're leaving Tip Payouts! If you have any further questions or would like to discuss your experience, our dedicated teams are available to assist you. Just start a chat with us by clicking on the blue icon at the bottom right corner of your screen. Alternatively, you can follow the steps in this article to disable Tip Payouts.

Prerequisites

⚠️ Once disabled, access to Tip Payouts is immediately removed. You can expect your funds to be credited to your account within 10 business days.

⚠️ Refunds must be issued to the original form of payment, with which the Location was set up.

  1. Login as an Admin.

  2. In the left navigation bar, head to Settings > Add-Ons:

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  3. Click on Tip Payouts:
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  4.  Select the More Options icon > Disable:

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  5. Let us know why you'd like to disable Tip Payouts and share any barriers you may have experienced - your feedback is most valuable!

  6. Select Next.

  7. Review the total refundable amount and choose to Keep Tip Payouts or Disable Tip Payouts.

    If you choose to disable Tip Payouts, we'll send you an invoice of the transaction to your e-mail on file.
Disable Tip Payouts for 1 Location.
  1. Login as an Admin.

  2. In the left navigation bar, head to Tip Management Tip Payouts > select Banking.

  3. Click on the More Options icon next to the Location you'd like to remove:

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  4. Select Remove Location:



  5. Let us know why you'd like to disable Tip Payouts and share any barriers you may have experienced - your feedback is most valuable!

  6. Review the total refundable amount and choose to Keep this Location or Remove and refund.

    If you chose the 'Remove and refund' option, access to this Location's Tip Payouts is immediately removed and you can expect your funds to be credited to your account within 10 business days. An invoice for this transaction will be sent to your e-mail on file.

Check out our FAQs section for more information about Tip Payouts!

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