WinRed Speeds Up Payouts for all Candidates

WinRed is speeding up payouts for conduit accounts across the platform in the coming weeks.

This provides a big boost for candidates heading into the final stretch, letting them get cash in their bank account quicker than before.

Here are some FAQs on the change

What Exactly is Changing?

Previously, daily payouts would initiate on one day (e.g. Wednesday) and deliver the next day (e.g. Thursday), as seen in this example:

Now, conduit accounts that have their payout frequency set to Daily will see their payouts initiated and delivered to their attached bank account on the same day, as in this example:

• For conduit accounts with payout frequency set to Weekly (Every Monday), payouts will be initiated and delivered every Monday.
• For conduit accounts with payout frequency set to MWF (Every Other Day), payouts will be initiated and delivered on the same day.

What About My Statement Descriptor?

You will likely see a new payout descriptor when funds hit your bank account that is a version of the following:

• RTP Credit: RTP deposit from Stripe Payments Company
• RTP Credit RTP deposite REVV LLC via, STRIPE PAYMENTS COMPANY

Do I Need to Do Anything?

You do not! This update will automatically be implemented in the coming weeks, and you will not need to do anything to make this happen.

What accounts does this apply to?

All conduit accounts connected to the WinRed PAC are impacted. You can see what type of account you are on here. 

How Can I View or Update My Payout Frequency on My Conduit Account?

You can update your Payout Frequency in your Settings → Bank Account tab, or by clicking here.

If you have any additional questions, feel free to reach out to our support team at support@winred.com