A payout is the process of withdrawing funds from the Mangopay environment to an external bank account opened in the name of the Mangopay Account holder.
The user’s external bank account must be registered in advance of the payout request as a Recipient.
The Natural User or Legal User registered with Mangopay must have:
UserCategory
of OWNER
(see categories)KYCLevel
of REGULAR
for payment services platforms).Mangopay offers a wide range of payout routes for local and international bank wire transfers.
Payout routes, also called rails, refer to the infrastructure and technology that facilitate the transfer of funds between bank accounts.
The payout rails available to your platform depend on your contract – contact Mangopay via the Dashboard to discuss activation of a local payout rail for your users.
Domestic rails rely on local networks used within a country or region. Because both banks are in the same jurisdiction and use the same local networks, the funds can generally be sent much more quickly and cheaply.
Sending a domestic payout requires Mangopay to hold and send funds from an account in the same jurisdiction as the user.
Domestic payouts must be requested to a Recipient with the PayoutMethod
of LocalBankTransfer
.
Non-domestic rails rely on shared messaging services such as SWIFT to transfer funds. SWIFT processing times depend on a number of factors including cutoff times and correspondent banks. SWIFT payments can arrive same day, they are frequently next day but can also take several days.
Mangopay works with partner banks to send the funds to the user’s account. Depending on where the user’s account is registered, Mangopay’s partners may themselves need to rely on additional correspondent banks to enable the connection with the end user’s bank.
Non-domestic payouts are requested to a Recipient with the PayoutMethod
of InternationalBankTransfer
.
The table below shows all local and international payout rails offered by Mangopay – contact Mangopay via the Dashboard to discuss activation.
The delivery times shown in the table above are typical for the rail used. Some payouts are subject to manual review by Mangopay’s teams for reasons of risk management or AML/CFT - these payouts may take longer than shown.
Payouts created before the cutoff times outlined below are transferred to the user’s bank account within the corresponding processing times. Payouts created after the cutoff are processed next working day – meaning Monday to Friday excluding weekends and public holidays.
Some SWIFT payouts are sent the day after the cutoff, and therefore delivery can take a day longer. These routes are marked +1 in the table above.
Note – Timings displayed are indicative
The delivery times shown on this page are indicative. For all schemes, the actual delivery time of an specific individual payout depends on various factors, many of which are out of Mangopay’s control.
Mangopay provides a number of instant local schemes:
Status
changes from CREATED
to SUCCEEDED
) but there can be a delay in some circumstances.
In the SEPA zone, platforms can take advantage of a choice of schemes (SCT, SCT Inst, and T2), and so you need to use the PayoutModeRequested
parameter to specify the scheme for each payout request. Mangopay also offers a fallback mechanism for SCT Inst to be processed as SCT if the instant request fails. See initiate an SCT Inst payout for details.For high-value EUR payouts in the SEPA zone, Mangopay offers real-time gross settlement (RTGS) via the Eurozone’s T2 scheme (formerly called TARGET2). This functionality was previously known as Express Payouts.
To request RTGS, set the PayoutModeRequested
to RTGS_PAYMENT
in calls to the POST Create a Payout endpoint.
Funds are usually processed within 5 minutes. The T2 scheme is open 07:00 – 16:15 CET, 5 days a week. Payout requests received outside these hours are processed the next working day. The T2 scheme is closed at weekends and on the following days if they fall on a weekday: 1 January (New Year’s Day), Good Friday, Easter Monday, 1 May (Labour Day), 25 December (Christmas Day), 26 December.
For SWIFT payouts, Mangopay can enable platforms to shoulder the full cost of any processing fees that may arise from correspondent banks. This allows the beneficiary to receive the full amount of the payout. When activated, cost-bearing uses the OUR configuration of SWIFT international bank wires instead of the SHA option used as standard for international payouts. The fees borne by the platform are recuperated by Mangopay during the usual billing cycle. This feature is available for USD international payouts, and can only be applied to all international USD payouts and is not available on a payout-by-payout basis. A contractual amendment is also required. To activate this option for your platform, contact our teams via the Dashboard. In future, Mangopay plans to offer this cost-bearing feature on SWIFT payouts in currencies other than USD.
Due to AML policy, Mangopay doesn’t allow payouts to some countries – see the country restrictions article for more information.
Mangopay does not impose a minimum amount on payouts. The minimum amount possible is dictated by the rules of the underlying scheme used to send the payout. For example, the SEPA Credit Transfer (SCT) scheme accepts a minimum amount of EUR 0.01 (Amount
value 1
), and the Faster Payments System (FPS) in the UK allows GBP 0.01 (Amount
value 1
). Other schemes may impose different minimum amounts.
The rail used by Mangopay for a payout request is determined by the Currency
of the payout and the Country
of the Recipient.
The Payout request’s BankAccountId
field can contain the Id
of a Recipient or a legacy Bank Account.
Active legacy bank accounts, created before the Recipient feature was released, were migrated to recipients.
To retrieve data of active legacy bank accounts you can use the GET View a Recipient endpoint and specify the legacy BankAccountId
as the RecipientId
path parameter. For example, if the legacy Bank Account was bankacc_m_01JCN1X2EHWG0JNJNPNQ21CW5G
, call the endpoint with that ID:
GET /v2.01/{ClientId}/recipients/
bankacc_m_01JCN1X2EHWG0JNJNPNQ21CW5G
The API responds with a Recipient object containing the information of the legacy Bank Account:
Legacy Bank Account objects had no currency property, and so they could be used for payouts in multiple currencies. The Recipients feature has a Currency
for each Recipient to improve payout deliverability, meaning that the same real-life account can be registered multiple times (with different PayoutMethod
values).
The table below shows the values assigned to legacy Bank Accounts when Mangopay migrated them to Recipients. In addition to the data below, the RecipientScope
assigned was PAYOUT
for all accounts (which can be used for PAYIN
use cases).
Bank Account Type | Recipient PayoutMethod | Recipient Currency | Recipient Country |
---|---|---|---|
IBAN | LocalBankTransfer if IBAN indicates a SEPA country, InternationalBankTransfer if not | Based on the IBAN country (EUR if SEPA country or local non-EUR) | Based on the IBAN |
GB | LocalBankTransfer | GBP | GB |
US | LocalBankTransfer | USD | US |
CA | LocalBankTransfer | CAD | CA |
OTHER | InternationalBankTransfer | Based on the BIC | Based on the BIC |
The process that was followed for IBAN type bank accounts was:
IBAN
(not the BIC
)PayoutMethodType
= LocalBankTransfer
Currency
= EUR
PayoutMethodType
= InternationalBankTransfer
Currency
= Local currency based on predefined list (e.g. DKK
, PLN
, etc)A payout is the process of withdrawing funds from the Mangopay environment to an external bank account opened in the name of the Mangopay Account holder.
The user’s external bank account must be registered in advance of the payout request as a Recipient.
The Natural User or Legal User registered with Mangopay must have:
UserCategory
of OWNER
(see categories)KYCLevel
of REGULAR
for payment services platforms).Mangopay offers a wide range of payout routes for local and international bank wire transfers.
Payout routes, also called rails, refer to the infrastructure and technology that facilitate the transfer of funds between bank accounts.
The payout rails available to your platform depend on your contract – contact Mangopay via the Dashboard to discuss activation of a local payout rail for your users.
Domestic rails rely on local networks used within a country or region. Because both banks are in the same jurisdiction and use the same local networks, the funds can generally be sent much more quickly and cheaply.
Sending a domestic payout requires Mangopay to hold and send funds from an account in the same jurisdiction as the user.
Domestic payouts must be requested to a Recipient with the PayoutMethod
of LocalBankTransfer
.
Non-domestic rails rely on shared messaging services such as SWIFT to transfer funds. SWIFT processing times depend on a number of factors including cutoff times and correspondent banks. SWIFT payments can arrive same day, they are frequently next day but can also take several days.
Mangopay works with partner banks to send the funds to the user’s account. Depending on where the user’s account is registered, Mangopay’s partners may themselves need to rely on additional correspondent banks to enable the connection with the end user’s bank.
Non-domestic payouts are requested to a Recipient with the PayoutMethod
of InternationalBankTransfer
.
The table below shows all local and international payout rails offered by Mangopay – contact Mangopay via the Dashboard to discuss activation.
The delivery times shown in the table above are typical for the rail used. Some payouts are subject to manual review by Mangopay’s teams for reasons of risk management or AML/CFT - these payouts may take longer than shown.
Payouts created before the cutoff times outlined below are transferred to the user’s bank account within the corresponding processing times. Payouts created after the cutoff are processed next working day – meaning Monday to Friday excluding weekends and public holidays.
Some SWIFT payouts are sent the day after the cutoff, and therefore delivery can take a day longer. These routes are marked +1 in the table above.
Note – Timings displayed are indicative
The delivery times shown on this page are indicative. For all schemes, the actual delivery time of an specific individual payout depends on various factors, many of which are out of Mangopay’s control.
Mangopay provides a number of instant local schemes:
Status
changes from CREATED
to SUCCEEDED
) but there can be a delay in some circumstances.
In the SEPA zone, platforms can take advantage of a choice of schemes (SCT, SCT Inst, and T2), and so you need to use the PayoutModeRequested
parameter to specify the scheme for each payout request. Mangopay also offers a fallback mechanism for SCT Inst to be processed as SCT if the instant request fails. See initiate an SCT Inst payout for details.For high-value EUR payouts in the SEPA zone, Mangopay offers real-time gross settlement (RTGS) via the Eurozone’s T2 scheme (formerly called TARGET2). This functionality was previously known as Express Payouts.
To request RTGS, set the PayoutModeRequested
to RTGS_PAYMENT
in calls to the POST Create a Payout endpoint.
Funds are usually processed within 5 minutes. The T2 scheme is open 07:00 – 16:15 CET, 5 days a week. Payout requests received outside these hours are processed the next working day. The T2 scheme is closed at weekends and on the following days if they fall on a weekday: 1 January (New Year’s Day), Good Friday, Easter Monday, 1 May (Labour Day), 25 December (Christmas Day), 26 December.
For SWIFT payouts, Mangopay can enable platforms to shoulder the full cost of any processing fees that may arise from correspondent banks. This allows the beneficiary to receive the full amount of the payout. When activated, cost-bearing uses the OUR configuration of SWIFT international bank wires instead of the SHA option used as standard for international payouts. The fees borne by the platform are recuperated by Mangopay during the usual billing cycle. This feature is available for USD international payouts, and can only be applied to all international USD payouts and is not available on a payout-by-payout basis. A contractual amendment is also required. To activate this option for your platform, contact our teams via the Dashboard. In future, Mangopay plans to offer this cost-bearing feature on SWIFT payouts in currencies other than USD.
Due to AML policy, Mangopay doesn’t allow payouts to some countries – see the country restrictions article for more information.
Mangopay does not impose a minimum amount on payouts. The minimum amount possible is dictated by the rules of the underlying scheme used to send the payout. For example, the SEPA Credit Transfer (SCT) scheme accepts a minimum amount of EUR 0.01 (Amount
value 1
), and the Faster Payments System (FPS) in the UK allows GBP 0.01 (Amount
value 1
). Other schemes may impose different minimum amounts.
The rail used by Mangopay for a payout request is determined by the Currency
of the payout and the Country
of the Recipient.
The Payout request’s BankAccountId
field can contain the Id
of a Recipient or a legacy Bank Account.
Active legacy bank accounts, created before the Recipient feature was released, were migrated to recipients.
To retrieve data of active legacy bank accounts you can use the GET View a Recipient endpoint and specify the legacy BankAccountId
as the RecipientId
path parameter. For example, if the legacy Bank Account was bankacc_m_01JCN1X2EHWG0JNJNPNQ21CW5G
, call the endpoint with that ID:
GET /v2.01/{ClientId}/recipients/
bankacc_m_01JCN1X2EHWG0JNJNPNQ21CW5G
The API responds with a Recipient object containing the information of the legacy Bank Account:
Legacy Bank Account objects had no currency property, and so they could be used for payouts in multiple currencies. The Recipients feature has a Currency
for each Recipient to improve payout deliverability, meaning that the same real-life account can be registered multiple times (with different PayoutMethod
values).
The table below shows the values assigned to legacy Bank Accounts when Mangopay migrated them to Recipients. In addition to the data below, the RecipientScope
assigned was PAYOUT
for all accounts (which can be used for PAYIN
use cases).
Bank Account Type | Recipient PayoutMethod | Recipient Currency | Recipient Country |
---|---|---|---|
IBAN | LocalBankTransfer if IBAN indicates a SEPA country, InternationalBankTransfer if not | Based on the IBAN country (EUR if SEPA country or local non-EUR) | Based on the IBAN |
GB | LocalBankTransfer | GBP | GB |
US | LocalBankTransfer | USD | US |
CA | LocalBankTransfer | CAD | CA |
OTHER | InternationalBankTransfer | Based on the BIC | Based on the BIC |
The process that was followed for IBAN type bank accounts was:
IBAN
(not the BIC
)PayoutMethodType
= LocalBankTransfer
Currency
= EUR
PayoutMethodType
= InternationalBankTransfer
Currency
= Local currency based on predefined list (e.g. DKK
, PLN
, etc)