When Does the Money Reach Your Bank? Payout Times for Yoco, PayFast, Peach Payments and Paystack
In South Africa, standard payouts from the main online payment gateways usually reach your bank within one to two business days. Peach Payments settles daily for the previous day’s transactions, Yoco’s standard payouts typically take one to two business days, PayFast holds funds for 48 hours before they can be paid out, and Paystack pays South African merchants two working days after the customer pays. Yoco and PayFast also sell faster payouts for a fee. None of them process standard payouts on weekends or public holidays, which is where cash flow surprises usually come from.
Our payment gateway comparison covers what each gateway charges per transaction. This guide is about the other question business owners ask us: when do I actually get the money? Everything below comes from each provider’s own help centre, fees page or terms (checked 29 October 2026). Payout rules change, and in one case a provider’s own pages disagree with each other, so treat this as a guide and confirm with your provider before you plan around a date.
Payout times at a glance
| Gateway | Standard payout | Faster option | Standard payout fee | Weekends and public holidays |
|---|---|---|---|---|
| Yoco | Daily, typically 1 to 2 business days to reflect | Instant Payout, within minutes | No payout fee | Instant Payout any day; standard on business days |
| PayFast | 48-hour hold, then about 1 to 2 working days | Immediate Payout, after the 48-hour hold | R8.70 per payout, ex VAT | Immediate Payout 24/7 |
| Peach Payments | Next business day, for the previous day’s transactions | None for your own sales | Free | No settlements on weekends or public holidays |
| Paystack | 2 working days after the customer pays | None found | No charge | Working days only |
Yoco
Yoco’s help centre says it “settles Standard Payouts daily” and that these “typically take 1-2 business days to reflect in your bank account, depending on your bank”. There is no fee on standard payouts. Note that some of Yoco’s other pages describe “the standard 2 business days”, and its terms say settlement timing “may vary depending on your pricing package, settlement schedule, or the requirements of our Banking Partners”, so the help centre figure is the best guide rather than a promise.
Instant Payout sends your available balance “within minutes, 365 days a year”, with a minimum of R50. According to the help centre the fee is a percentage of the amount, 1.50% on the Core plan, 1.25% on Plus and 1.00% on Pro (excluding VAT), with a minimum flat fee for amounts under R1,000. Limits depend on your history: one request a day of up to R10,000 if you have had fewer than 10 standard payouts in the last 90 days, and two requests of up to R30,000 once you have more. Instant Payout is not available while your profile is still being verified or under a risk review.
PayFast
PayFast (now Payfast by Network) works differently: money you take first sits in a 48-hour holding period. Its merchant FAQ says your available balance “reflects the funds you are eligible to payout, following a 48-hour withholding period”. You then request a payout or set an automatic one. A standard payout “typically processes within 1-2 working days” and costs R8.70 excluding VAT, whatever the amount.
Immediate Payout is PayFast’s faster option, at 0.8% excluding VAT with a minimum of R14.00. Two catches are worth knowing. First, PayFast says “You can only request an Immediate Payout after the bank clearing time of 48 hours has elapsed”, so it speeds up the payout, not the hold. Second, it is “available only to certain merchants”: you need to be verified, have completed at least one standard payout, have transactions in the last three months and bank with a participating bank. The daily maximum is R50,000.
Peach Payments
Peach settles automatically, with no payout fee. Its support centre describes “one consolidated deposit into your bank account each business day, covering the previous day’s transactions”. Its developer documentation is specific about the week: payments made Monday to Thursday settle the next business day, and payments made Friday to Sunday settle on Monday. Peach states: “We do not process settlements on Saturdays or Sundays” and “Settlements are not processed on South African public holidays.”
If you have your own merchant account with a bank rather than using Peach’s, settlement follows that bank’s cycle instead.
Paystack
Paystack’s support centre lists South African rand payouts as arriving “After 2 working days”, with no extra charge for automated payouts. Its manual payout page describes the South African schedule as “T+2”, meaning two working days after the transaction. “Payouts are only processed on working days and not weekends or public holidays.” Paystack’s “Payout on Demand” is only offered to Nigerian businesses, so there is no instant payout option for South African merchants. Our Paystack South Africa guide covers its manual payout option and the rest of its account rules.
Why weekends and public holidays matter
Here is a simple example of how a long weekend affects you. Say you run a promotion on a Friday before a public holiday Monday. On a gateway that pays only on business days, Friday’s sales cannot settle until Tuesday at the earliest, and on a T+2 schedule later still. If you need that money to pay a supplier on Monday, the paid faster options exist precisely for that situation, and it is worth working out in advance whether the fee is cheaper than the alternative.
Holds on new accounts and when money can be withheld
None of the four publishes a fixed reserve percentage for new merchants, but all of them reserve the right to hold money in some circumstances:
- Payouts start after verification. Peach says settlement begins “Once our Risk Team has approved your FICA documents and activated your account”. Yoco’s terms allow it to delay settlement if “your onboarding or verification is incomplete”.
- Disputes and chargebacks. Yoco may withhold settlements if there are “pending chargebacks, disputes, or reversals” and may hold amounts in a reserve account. PayFast says “A retained balance may also be withheld to reduce the risk of fraud”, and its terms allow it to retain funds for up to 540 days or until the refund and chargeback window has ended, whichever is earlier.
- Unusual activity. Peach lists “sudden and unusual spikes in transaction volumes” among the reasons it may hold settlement.
The practical lesson: get your verification documents in before launch day, not after your first sale.
How refunds and chargebacks come off your payouts
Refunds and chargebacks are usually taken from your next payout, not billed separately:
- Paystack: “Refunds are first deducted from your pending payout”, and for a lost dispute “We deduct the amount of the refund from your next payout.”
- Peach: makes a single deposit “less any refunds or reversals”.
- PayFast: deducts refunds, reversals, chargebacks and fees from your sale proceeds, and charges R2.00 excluding VAT per refund.
- Yoco: your available balance is your transactions “less any applicable fees, refunds, chargebacks” and other deductions, and its terms allow it to debit your bank account if there is not enough balance.
So a payout can be smaller than the day’s sales, and a large refund can leave a payout at zero. Reconciling payouts against orders is much easier when every order on your website carries the gateway’s transaction reference, so check that your store records it before you go live. Our e-commerce website package includes setting up card payments through Yoco by default, or PayFast, Peach Payments or Paystack if you prefer.
Which gateway is best for cash flow?
If you want money in the bank as soon as possible without paying extra, Peach’s next business day settlement and Yoco’s daily standard payouts are the quickest of the four on paper. If you sometimes need cash the same day, Yoco’s Instant Payout is the most flexible because it runs any day of the year. PayFast suits businesses that are comfortable with a short hold and want the option of an immediate payout for a fee. Paystack’s two working days is the slowest, but its payouts are free and its published pricing is simple.
Cash flow is only one factor, alongside fees, payment methods and whether you need recurring billing for subscriptions. If you are choosing a gateway for a new online store, our guide on how to launch an online store in South Africa walks through the rest, or request a quote and we will set up whichever gateway suits you.
Frequently Asked Questions
How long does Yoco take to pay out?
Yoco’s help centre says standard payouts are settled daily and typically take one to two business days to reflect, depending on your bank, with no payout fee. Yoco’s paid Instant Payout sends funds within minutes on any day of the year, subject to limits and a fee.
How long does PayFast take to pay out?
PayFast holds funds for 48 hours before they become available. A standard payout then typically takes one to two working days and costs R8.70 excluding VAT. Its Immediate Payout, at 0.8% excluding VAT with a minimum of R14, is only available after the 48-hour hold and to eligible merchants.
Do payment gateways pay out on weekends in South Africa?
Standard payouts generally do not. Peach does not settle on weekends or public holidays, and Paystack processes payouts on working days only. Yoco’s Instant Payout and PayFast’s Immediate Payout can be requested on weekends for a fee.
Why is my first payout taking longer?
Most gateways only start paying out once your account and verification documents are approved, and they can hold funds while that is incomplete or if there are disputes. Submitting your FICA documents before you launch avoids most first-payout delays.
Are refunds taken off my payouts?
Usually, yes. Paystack, Peach, PayFast and Yoco all deduct refunds, reversals or chargebacks from the money they owe you, so a payout can be lower than the day’s sales.
