How to add a payout method (for admin)

You will have to add a payout method in Spond for us to be able to pay money to you. You can do so by going to your Spond profile (top right on web, top left in the app) Payment > Payout method > Add payout method. This payout method can only be used by you. If other admins would like to use the payment function, they need to create a payout method on their own profile.

We will verify that the information we receive is right before the payment process begin. This will normally take a maximum of 5 days. Once we have been able to verify your account the money will be transferrer according to the payout schedule you have set up. The first payout may take up to 7-10 business days after verification.

  1. As a private person  We require bank account number, name, date of birth and street address from individuals.
  2. Company  We require the company number and any further owners of the company (because of the eu-regulations that our provider is obligated by). Any other private owners (other than yourself) that own more than 25% of the company need to be added to this section. This is not relevant to teams, associations and foundations.

    Why do I need to add additional owners?

Extra Stripe verification

In order to comply with laws and regulations, we, and our payment partner Stripe, may require that you verify your identity or other information related to the payout method you have created. This requirement exists to promote transparency and to prevent, among other things, money laundering. Read more

Payout schedule

When setting up the payout method, you can choose whether the payout schedule should be daily, weekly or monthly. Important to note: Due to regulations our payment provider (Stripe) must follow, the money will be paid out at least 3 days after it has been paid. (This means that payments to your account are made no earlier than 3 days after payment, even if you choose daily payments) The first payment may take 7-10 days after verification. Read more

Payout summary

You can get a full overview of all payments and payouts by downloading a payment export.

Deletion and refund

If a payment request is deleted from the group, all outstanding funds will still be transferred to the payout account, but the request itself cannot be recovered. You can not delete a payout method before all outstanding payouts are made to your account.

Payments cannot be refunded through Spond, this may need to be organized between the member and the recipient.

Member receipts

Members who use the app will be able to see the receipts under Payment > Payment history. Members who receive email notifications will receive an email receipt.

If you have any questions regarding your payments, please email us at support@spond.com

Tips on how to set up a payment request

How does the registration fee work?

How to add a payment method (members)



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