Instant payout terms

Effective Date: 1 June 2024 - v1

Instant Payout is provided by Helix Pay Ltd., a company incorporated in England and Wales and our affiliates (collectively, “Helix Pay,” “we,” and “us”) and supervised by the Financial Conduct Authority under the Payment Service Regulations 2017 for the provision of payment services.

Defined terms used in these Payment Terms & Conditions will have the same meaning as those used in the Payment Terms & Conditions and, as applicable, the General Terms & Conditions, unless otherwise defined herein.

“Instant Payout” means the feature which enables you to request your Balance to be sent to you outside of the normal payout schedule (as described under Section 14 of the Payment Terms & Conditions).

These terms and conditions (“Instant Payout Terms”) together with the Payment Terms & Conditions govern your use of Instant Transfer. By using Instant Transfer, you agree to be bound by the Instant Transfer Terms.

For clarity, any references to “Payment Services” in the Payment Terms & Conditions or General Terms & Conditions shall include Instant Payout.


1. Authorisations
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When you initiate an Instant Payout from your Helix Pay Account, you instruct and authorise us to pay your Balance or, where we have decided to apply a limit on the values that you may transfer via Instant Payout, a proportion of your Balance as confirmed by us, less Instant Payout Fees (as described in the Fee Schedule) (the “Instant Payout Amount”) to your valid, linked Designated Account. Helix Pay’s standard card processing fees still apply to each Card transaction.

“Instant Payout Fees” are clearly shown to you at time of the instant payout request and the exact cost is displayed prior to the request being actioned. The Instant Payout Fees become payable to us when you initiate your Instant Payout and we will deduct the Instant Payout Fees from the Balance prior to paying the net Instant Payout Amount to your linked bank account.


2. Prerequisites

To use Instant Payout:
• You must have your UK bank account (i.e., your Designated Account) linked in your Helix Pay Account;
• Your bank must be able to receive funds through the Faster Payments Scheme associated with your Designated Account;
• You must be a Helix Pay user in good standing having been created at least 30 days ago; and
• You must have successfully processed at least 50 card transactions with a minimum total value of at least £2500.00 since your Helix account was opened. These limits are subject to change and are clearly displayed in the merchant portal.


3. Payout Schedule

We will initiate an Instant Payout as soon as you submit a request for an Instant Payout through your Helix Pay Account. You will not be able to revoke your Instant Payout request after it has been submitted. The funds will usually be available in your Designated Account within 20 minutes of the request and, in rare cases, within 4 hours of the request.

You should note that the precise timescales for receiving the Instant Payout Amount will depend on your bank’s and payment network’s availability.


4. Balance and Payout Limits

To initiate an Instant Payout, you must have at least £50 (after deduction of Instant Payout Fees) in your Balance. The maximum Instant Payout Amount is £500. We reserve the right to moderate, suspend or restrict your use of Instant Payouts and/or limit the funds that can be remitted using Instant Payouts for reasons relating to the following: (a) the security of Instant Payout, your Helix Pay Account or the Payment Service; (b) suspected unauthorised, illegal or fraudulent use of Instant Payout, your Helix Pay Account or the Payment Service; (c) we need to do so to comply with the law of any jurisdiction; (d) we have reason to believe that you no longer meet the prerequisites for access to Instant Payout as set out above; (e) your Instant Payout request does not meet the limits set out in these terms.


5. Events outside of our control

We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under these Instant Payout Terms that is caused by any act or event beyond our reasonable control