Disbursement Methods

Overview

Disbursement methods refer to outgoing payments only. For incoming payments, please refer to payment methods. Assembly supports multiple disbursement methods for sending funds to users on your platform. You can offer your sellers the ability to receive funds via Domestic Bank Transfer (ACH/Direct Credit), Digital Wallet, International Wire Transfer, and PayPal. You should consider payment processing times, currency support, and fees when deciding which disbursement methods to offer your users.

Feature Guides – Disbursement Methods – Image

Domestic Bank Account Transfers

Users can receive funds to their Domestic Bank Accounts.

Supported Countries

Australian, New Zealand and United States bank accounts can be used as a disbursement destination.

Processing

Domestic Bank Account disbursements are batched. The batch process runs several times per day and it can take up to 3 business days for funds to be received at the destination Bank Account. Assembly provides notification of the success or failure of the payment via the Batch Callback.

Currencies

Domestic Bank Accounts can receive AUD, NZD or USD depending upon the country that the account is held in. The currency of the Bank Account is set and fixed when creating the account.

Fees

Assembly charges a surcharge for using a Bank Account as a disbursement method. As a platform, you may want to charge your users a fee for using a Bank Account as the disbursement method. These fees can be configured using the Fees API. The fee will be subtracted from the amount of funds to be sent.

Managing Bank Accounts

Creating Bank Accounts is performed using either the EUI or via the Bank Accounts API. Bank Account details cannot be updated and as such a new Bank Account must be created and linked to the user, in the event of incorrect details.

Digital Wallets

Digital Wallets can be used as a disbursement method if the platform is configured with manual Digital Wallet disbursements.

Processing

Digital Wallet disbursements are processed immediately. Funds are released from Item’s to the User’s digital wallet. By default, the User’s Digital Wallet balance will be automatically disbursed to their nominated disbursement account, as per the batch schedule (several times per day). A platform can request that Digital Wallet’s be set to manual disbursements, and as such funds can be held indefinitely on behalf of the user and be used to fund future Items.

Currencies

The User’s Digital Wallet currency is fixed to the default currency of the platform (AUD, NZD or USD).

Fees

Assembly does not charge a fee for using a Digital Wallet as a disbursement method.

Managing Digital Wallets

Every user is given a Digital Wallet upon creation of the User object. A Digital Wallet can be funded using a Bank Account or from the proceeds of Item disbursements. Funds are automatically disbursed from a User’s Digital Wallet by default. Contact Assembly support if you want to manually disburse funds, and by implication, allow the Digital Wallet to be used as a funding source.

International Wire Transfers

Funds can be disbursed via an international wire to Users. A Bank Account needs to be associated with the User in order to receive international wires.

Supported Countries

All countries are supported that don’t appear on the Australian, New Zealand or United States trade ban lists.

Processing

International wire transfers are batched. The batch process runs several times per day. International wire transfers are generally received in 5 days. Some countries can take up to 14 days for the User to receive the funds. Assembly provides notification of the success or failure of the payment via the Batch Callback (link to API reference)

Currencies

Assembly can send international wires in many currencies. The currency can be configured using the Bank Account API call.

Fees

Assembly charges a fee to send funds via an international wire transfer. As a platform, you may want to charge your users a surcharge for sending the international wire transfer. These fees can be configured using the Fees API. The fee will subtracted from the amount of funds to be sent.

Managing International Wire Transfers

Creating International Bank Accounts is performed using either the EUI or via the Bank Accounts API. Bank Account details cannot be updated and as such a new Bank Account must be created and linked to the user, in the event of incorrect details.

PayPal Accounts

Funds can be disbursed to PayPal accounts.

Supported Countries

Assembly can send funds to all countries that PayPal supports.

Processing

PayPal disbursements are batched. The batch process runs several times per day. PayPal payments usually take 3-5 days to be received by end users. Assembly provides notification of the success or failure of the payment via the Batch Callback.

Currencies

PayPal payments can be received in AUD or USD. The currency is dictated by the platform’s default currency setting.

Fees

Assembly charges a fee for sending funds to a PayPal Account. As a platform, you may want to charge your users a fee for using a PayPal Account as the Disbursement method. These fees can be configured using the Fees API. The fee will subtracted from the amount of funds to be sent.

Managing PayPal Accounts

Creating PayPal Accounts is performed using either the EUI or via the PayPal Accounts API. PayPal Account details cannot be updated and as such a new PayPal Account must be created and linked to the user, in the event of incorrect details.