Payouts

What type of payouts are there?

We have 4 different types of payouts:

How much do payouts with Maesh cost?

PayoutCostPer
StandardFreePayout
Same-dayS$1Day
Instant (coming soon)S$0.60Transaction
On Demand (coming soon)S$0.75Withdrawal

What is the mininum payout amount?

The minimum payout amount is S$1. If the balance in your account is less than this, it will remain in your Maesh account until your balance increases.

What is the Standard Payout plan?

Our Standard Payout plan is free. This is how the plan works:

  • We use the GIRO payment rails to make the Payout
  • This means a Standard Payout may take 1 to 5 days for the money to arrive in your bank account
  • Payouts only happen on business days (weekends and holidays will not have payouts). The exact payout time is depending on your bank
  • The cut-off time for a Payout is on the next available business day at 6PM

Example 1

A Transaction for your business is successful and arrives on Monday morning at 11AM. The Payout will be the next business day: Tuesday (1 day later).

Example 2

A Transaction for your business is successful and arrives on Thursday evening at 8PM. On Monday it’s National Day 🇸🇬. The Payout will be on the next but one business day: Tuesday (5 days later).

What is the Same-Day Payout plan?

Our Same-Day Payout plan costs S$1/day. This is how the plan works:

  • We use PayNow/FAST to transfer the money for quick liquidity
  • The money will directly transfer into your bank account, real-time
  • Same-Day Payouts will happen every day at 9PM, including holidays and weekends
  • For all the transactions on that day, S$1 is charged for the payout
  • Next payout is 24 hours later

Example

5 transactions of S$10 each have accumulated in Maesh’s bank account during the day on a Saturday. At 9PM a FAST Payout is triggered that will transfer the funds instantly into your bank account.

You only pay S$1 for the payout of those 5 transactions. This is on top of the transaction fees for the transactions individually (which is 0.7% x S$10 + S$0.25 = S$0.32 per transaction). So the total cost for all transactions of that day including payout would be 5 x S$0.32 + S$1 = S$2.60. Your net payout will be S$47.40.

What is the Instant Payout plan (coming soon)?

Our Instant Payout plan costs S$0.60/transaction regardless of the transaction amount. This is how the plan works:

  • Instant money transfer. The moment your customer pays us, we will transfer the funds into your bank account
  • Instant Payouts happen 24/7, including weekends and holidays
  • We use PayNow/FAST to transfer money for direct liquidity
  • For every incoming transaction, S$0.60 is charged per Instant Payout. This is on top of the transaction fees as described here

Example

Your customer purchases something for S$100 in your webshop on Sunday evening. They make the payment into Maesh’s bank account. The moment the funds arrive, we will directly transfer the money into your bank account without any delay.

The cost involved with an Instant Payout is both the cost for the transaction and the payout. In this case the cost will be S$0.95 (0.7% x S$100 + S$0.25) for the transaction and S$0.60 for the payout. The total cost for this S$10 order is S$1.55.

What is an On Demand Payout (coming soon)?

Our On Demand payouts cost S$2/withdrawal. This is how they work:

  • On Demand Payouts are like going to an ATM. Whenever you need the money, you can trigger a Payout within our Maesh Dashboard
  • This is irrespective of the payout plan you are on
  • On Demand Payouts happen 24/7, including weekends and holidays
  • We use PayNow/FAST to transfer money for direct liquidity
  • Sufficient balance needs to be available
  • For every On Demand payout request, S$2 is charged

What banks can Maesh payouts be transferred to?

Currently, Maesh can do payouts in 3 ways:

  • Through PayNow Corporate which requires your company’s UEN. The UEN should belong to the business that owns the website which Maesh is integrated with. Payouts will be made to the bank account registered for that respective UEN.
    • Note: it's also possible to key in a PayNow Corporate UEN with a suffix of 3 letters/digits. Example: 201936523ZABC.
  • To Singaporean bank accounts, for which we have the following requirements:
    • Any bank that allows the setting up of a Singaporean bank account
    • Maesh will require the ‘account number’, ‘bank code’ and ‘branch code’ of that bank account.
  • To mobile phone numbers using PayNow

Contact us for further assistance if any of those options doesn't apply to you.

What is the process of changing payout plans?

Payout plans can be changed under ‘Settings’> ‘Payout Plans’ >’‘Change Plan’. The updated payout plan will take effect immediately. Find out more about the different payout plans we offer.

Example 1

Business X is currently on the ‘Standard Payout plan’ and changes to the ‘Same-day Payout plan’ on Tuesday, 10PM. Transaction #123 comes in on Tuesday, 11PM. This transaction will be paid out on Wednesday at 9PM as part of the ‘Same-day Payout plan’.

Example 2

Business Y is currently on the ‘Standard Payout plan’ and changes to the ‘Same-day Payout plan’ on Tuesday at 7PM. Transaction #456 comes in on Tuesday, 8PM. This transaction will be paid out on Tuesday at 9PM as part of the ‘Same-day Payout plan’.