Getting started with BitPay Send (for merchants)

How does a business get started with BitPay Send? 

• Contact Sales (sales@bitpay.com) and Compliance (compliance@bitpay.com)
• Complete Know Your Business and Enhanced Due Diligence process: The usual turnaround time is 1-2 weeks.

How to do I send funds for my payouts?

As fiat deposits differ by your banking country, please reach out to our support team at bitpay.com/support or support@bitpay.com. 

Why are my settlements on hold?

We place merchants' account settlements on hold so that your fiat deposits for payouts will not be accidentally re-settled to your banking details. This is called a 'freeze' on your settlements, as a BitPay agent must be the one to remove the freeze (it cannot be removed on your side). If you are a merchant who processes incoming payments and outgoing payouts, you may wish instead to have a refund reserve, in which you hold back a certain amount from being settled but settle anything over that amount that reaches your settlement minimum. Please let us know your preference when setting up your account.

How does BitPay calculate exchange rates?

BitPay integrates with multiple crypto exchanges to get the current exchange rates and then uses the best exchange rate for the conversion at the time we process the payout batch.

When do the payout requests get processed?

Currently, the payouts are processed at 10AM ET and 5PM ET daily. In the future, we will improve this to hourly process times throughout the day.