Payout
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By default, Cooltix Payment Processing is set for all organizers. Customers will then pay through Cooltix and their earnings will be credited to Cooltix's technical account, which will be transferred to the organizer's bank account.
The incomes will be transfered to the organizer's bank account, not directly from Cooltix, but from one of our contracted payment service providers, depending on the country and currency.
Payment service providers, including Cooltix, will make the amount of the purchase available within 3-5 business days after the purchase, and only then will it be available for transfer. The lenght of the treshold depends on the currency and country where the organizer is seated.
Once the event is over and as soon as all purchases have been became available, we will automatically initate the transfer of incomes to the bank account provided by the organizer. The expected arrival of the incomes differs by the given bank account, it can completed between a few hours until 2 workdays.
Advanced and custom organizers have the opportunity to request an allocation before the event, up to 20% of the revenue available.
If more is needed:
they can request an individual assessment, after which we will have the possibility to payout more than 20% of the share based on the risk assessment of our financial service provider
or the organizer has the option to set up his own account, in which case the revenue will be sent to him directly and immediately.
Revenues are collected from customers in the currency specified on the interface, stored and transferred to the organizer.
The organizer must provide a bank account in their country of residence for payment. The provided bank account must be suitable for receiving the currency in which the tickets were sold.
If the currency of the specified bank account and the currency in which the customers have paid differ, the currency change must be made by the bank holding the organizer's bank account and the costs will be borne by the organizer.
In the case of using a third party payment service, the incomes will be sent directly to the organizer, so no separate payout is required. The arrival of the income to the bank account depends on the chosen service provider and the contract concluded with it.
You can read more about supported payment providers here: