FAQs on Scheduled Withdrawal

What is Scheduled Withdrawal?
Scheduled Withdrawal is an automated process where funds are periodically transferred from the merchant's wallet to their designated settlement account without repeatedly logging into the Merchant Portal. This feature helps businesses manage cash flow efficiently by ensuring timely payouts without manual requests. See How to Withdraw Funds from Your Wallet Using Scheduled Withdrawal.
Here are some key parameters to note under Scheduled Withdrawal:

Frequency: It is how often scheduled withdrawal is been processed automatically. Your Frequency can be set to Hourly, Daily, Weekly or Monthly.

Interval: The time gap between each Scheduled Withdrawal, determining how frequently the withdrawals occur. This can be every 1 hour, 2 hours, 5 hours e.tc

Withdrawal time: This is the exact time when a Scheduled Withdrawal is processed from your wallet to your settlement account. All funds will be withdrawn from your wallet at the specified time.

Withdrawal day: The specific day on which a Scheduled Withdrawal is processed, based on your selected frequency.

Withdrawal Date: All funds will be withdrawn from your wallet on this day every month.

• Can I set up a Scheduled Withdrawal at any time?

Yes, you can set up a Scheduled Withdrawal anytime, with the flexibility to customize the frequency and amount according to your preferences.

• How can I track Scheduled Withdrawal transactions?

You can track your Scheduled Withdrawal transactions on the Wallet section of the Merchant Portal.

• What is the cost of withdrawal fees?

For Access Bank Account holders, withdrawals are free of charge, while Non-Access Bank Account holders can enjoy their first withdrawal for free, with charges applying to subsequent withdrawals.

• How do I adjust my Scheduled Withdrawal?

To make changes, you can delete your current schedule and set up a new one with your preferred withdrawal amount and frequency. 

• Do merchants need to meet any eligibility criteria to use Scheduled Withdrawal?

No, Scheduled Withdrawal is available to all merchants who are fully onboarded on the Merchant Portal.

• How long does it take for Scheduled Withdrawal to be processed?

Scheduled Withdrawals are processed instantly, and the funds are settled into your settlement account immediately.

• What is the minimum amount required to set up a Scheduled Withdrawal from your wallet?

There is no required minimum amount for a Scheduled Withdrawal from your wallet.

• Will I get a notification after setting up a Scheduled Withdrawal?

Yes, you will receive an email notification once your Scheduled Withdrawal has been successfully processed.

• How often can I use Scheduled Withdrawal?

You can use the Scheduled Withdrawal feature as many times as possible depending on the available funds in your wallet.

• Can I set up multiple Scheduled Withdrawals?

No, you cannot. However, to create a new Scheduled Withdrawal, you must delete the existing schedule and set up a new one with your preferred amount and frequency.

• Can I perform a Partial Withdrawal even if I already have a Scheduled Withdrawal in place?

Yes, you can still perform partial withdrawals alongside a scheduled withdrawal, provided there are enough funds available for the scheduled withdrawal to be completed.

Need Help?

If you encounter any difficulties or have questions, please do not hesitate to reach out to our customer support team through any of the means below:

• Chat with Support: Use the chat widget at the bottom right corner of any of the portal's page to chat with our support team.
• Log a Request: Click this link to submit a request through the webform on this site.
• Email Support: Reach out to our support team via email at support@hydrogenpay.com.