Float account and Payouts

Each Glider merchant who has activated PayTo is entitled to their own float account.

A float account is a virtual bank account where all PayTo transactions are initially deposited.

By using Glider Payout's API or custom scheduled processes, your funds can be transferred to one or more PayTo-enabled bank accounts in real-time. Merchants have complete freedom to choose the scheduled time, amount, and destination for their payouts.

Float account details are available via API or via Glider console

Payout example scenario Example

Ourpower, an energy provider, invoices its customers using Glider. Their finances are organized in a custom ledger that requires daily transfers of funds into three different trust accounts as follows:

• Account A: Holds a $2.50 fee for each paid invoice
• Account B: Holds 10% of each paid invoice
• Account C: Holds the remaining funds

Today, Ourpower has collected 29,800 invoices totaling $849,500. Therefore, the funds must be transferred as follows:

• Account A: $74,500
• Account B: $77,500
• Account C: $697,500

By leveraging the Glider Payout API, Ourpower will first get the list of their registered destination bank accounts.

POST /v2/payto/payout/account/

  
Response
[
    {
        "id": "430c26ef",
        "branch_code": "062030",
        "account_number": "32198752",
        "bank_name": "Commonwealth Bank of Australia",
        "title": "AccountA"
    },
    {
        "id": "5c756b1b",
        "branch_code": "082029",
        "account_number": "85267415",
        "bank_name": "NAB",
        "title": "AccountB"
    },
    {
        "id": "d02dd303",
        "branch_code": "162028",
        "account_number": "12345678",
        "bank_name": "SunCorp",
        "title": "AccountB"
    }
]

Then make 3 separate payout request

To Account A

POST /v2/payto/payout/process
{
	"accountId": "430c26ef",
  "amount": "74500",
  "description": "Request transfer to Account A"
}

To Account B

POST /v2/payto/payout/process
{
	"accountId": "5c756b1b",
  "amount": "77500",
  "description": "Request transfer to Account B"
}

and to Account C

POST /v2/payto/payout/process
{
	"accountId": "d02dd303",
  "amount": "697500",
  "description": "Request transfer to Account C"
}

Fine details for all Glider's Payout APIs can be found here

FAQ

How do I add, edit and remove recipient bank accounts?

To add, delete, or edit your bank account information, please email us at [email protected] with the subject line: Manage Bank Accounts - [Your Customer Name]. Describe your request, and our team will assist you promptly.

Can a float account have a negative balance?

No, a float account cannot have a negative balance. Payout requests are limited to the maximum amount available in your float account.

Is it mandatory to use a float account or I can transfer the money directly to a nominated bank account?

The float account is enabled by default in all Glider accounts. If you prefer not to use this functionality, contact our team at [email protected] with your requirements, and we can set up your nominated bank account as the primary recipient for any PayTo transaction. Note: This action is not reversible.

How long does it take to a payout request to be processed?

On average, a payout request is completed within 60 seconds. Once successful, the money will be immediately available in the destination account.

Can I transfer/deposit money into my float account?

No, only PayTo transactions made via the Glider PayTo button or Glider Payment form can deposit money into the float account.

Can I manage payouts without code?

Yes, if you require a custom payout process, email us at [email protected] with your requirements, and our team will assist you promptly.