When and how do you receive your funds in your bank account?
If you receive a payment, we will send you notification email and/or SMS as well as display the payment as a Received Payment Transaction in your Transactions History.
All payments received are deposited in your iPay Balance on a T+1 basis (less any applicable Fees as per our Fee Schedule), where T is the transaction date.
Your received funds in your iPay Balance can be transferred to your designated bank account based on your account type and upon your request.
Alternatively, you can use our PayOut/Send Money function to disburse payments to your suppliers or vendors via mobile money or pay your bills and top-up airtime instantly.
You can initiate a transfer request at any time on a business day by clicking the “Transfer Funds“ button in your iPay Dashboard. When your request is processed, you will receive a Funds Transfer Report via Email and/or SMS.
Transfers to your account may normally register in your bank account within 48hours. You can always check on the status of your transfer in your iPay Dashboard.
Are there any transfer limits?
You may only request one transfer per business day.
We process only a minimum transfer of GHS 200. If your collected funds are less than this minimum, it shall remain pending transfer until your transactions reach the minimum GHS 200 limit.