Ticketbooth manages payment in two different setups depending on the type of event your hosting, cashflow and number of attendees/customers your expecting.
Option 1 : Use Ticketbooth’s Merchant Account To Collect Funds (Ticketing Monies Transferred After Event Has Taken Place)
This is our preferred method, not only is it the most secure and reliable method it also allows us to fully manage your account on your behalf. This means managing refunds, combating ticketing fraud, auditing and consolidation of ticketing funds.
As Ticketbooth is third party processing on your behalf we’re required to hold funds in trust as per the relevant government ticketing codes. Once you’re event has completed barring any complications due to refunds other event issues funds are transferred to your nominated account on either a Monday or Friday depending on when your event finishes.
For example an event finishing on Friday, Saturday or Sunday are paid out on the following Monday. Events finishing on a Monday, Tuesday, Wednesday or Thursday are paid out on Friday.
Ticketbooth on occasion can reduce the lag time on these payments subject to approval from our finance department.
Option 2 : Using your own merchant account (Stripe, Payflow, Paypal)
When you process funds via your own merchant account they are usually deposited into your bank account within a few days of a ticket sale taking place, for instance a ticket purchased by a customer on a Monday maybe deposited into your account the following day or in stripes case a week after the sale takes place.
e.g If a ticket sale takes place on Monday the 9th it would be deposited into your account on Monday the 16th.
These lag times usually allow the merchant account providers enough time to assess the transactions taking place and screen them for fraud/risk prior to depositing funds into your account.
If you require any more clarification about third party merchant account payment times we recommend contacting the relevant provider e.g Stripe, Paypal etc.