Why am I unable to use instant payout?

If you wish to take advantage of the instant payout feature, it is as easy as navigating to your in-app "Profile" and activating the instant payout option.

Please bear in mind that if you do not fulfill the following requirements, you won't be able to activate the instant payout feature:

  • You need to be an active Woolsocks user. This means that the more you use the app, the sooner you'll be able to activate instant payout!
  • You need to have a connected bank account that you are actively using. This account influences your instant payout limit. It will also be used to to pay us back in the event that your cashback transaction is eventually rejected by the merchant. You can learn more about this here.
  • The bank account connected must have an IBAN (International Bank Account Number) to be eligible. All bank accounts without an IBAN (e.g. PayPal) will not displayed in the instant payout setup screen. 

 

Other articles you might find interesting: 

Instant payout usage

How can I connect my bank account

 

If you need further assistance, please click this link to send us a request.

 

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