Payouts: How to pay your school providers

Learn how to transfer funds to your favorite partners through EdWallet

In this article, we'll guide you on how to make payouts from your EdWallet account, in other words, how to pay your providers directly from EdWallet:

• Verified vs. Unverified providers
• How to transfer funds to your providers
• Processing Times and Fees

Verified vs Unverified providers

First, it's important to understand the two categories of providers you can pay from EdWallet:

• Verified Providers: These providers are pre-listed in EdWallet after being validated by Edvisor. They go through a thorough legal verification to ensure they fulfill all the necessary requirements for receiving payments. These providers use an Edvisor Payments account, which means their bank account details are automatically integrated and do not need to be entered separately.
  
  

• Custom Providers: These are educational institutions that are not yet verified by Edvisor, so you need to add them manually to EdWallet. You will also need to manually input their bank account information.
  💡Once entered, these details are saved for future transactions.

How to transfer funds to your providers

🔹 Go to EdWallet  > Settings > Providers 

1. Add the School Provider Account: For custom providers, begin by adding the account details of the educational institution to which you need to make a payment. Click on 'Add custom provider' and follow the steps.
   
   

2. Account Validation by Edvisor: After adding the account, allow Edvisor 24 hours to validate the account information.

3. Initiate Payout: Once the account is validated, navigate back to the providers section (Settings > Providers) and click on the 3 dots icon next to the respective school provider. Then, select 'Send payment. 

4. Follow the steps: Choose the currency account from which you want to transfer funds. Then, enter the amount to be transferred, input the security code, and click 'Send payout'.