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Event Banking: Payouts and Withdrawal Setup

Manage event revenue on Seaty: view available and pending balances, request withdrawals to your UK bank account, and track fees, refunds, and payouts.
Banking page showing balance and withdrawalsBanking page showing balance and withdrawals

Overview

The Banking section gives you visibility and control over your event's online card payment revenue. At its simplest, Banking answers one question: How much money is available and how do I get it into my bank account?

Who uses this: Event administrators with Banking & withdrawals permission.

Key capabilities:

  • View available and pending balances from ticket sales
  • Request withdrawals to your UK bank account
  • Track the status of withdrawal requests
  • See fee breakdowns and refunds that affect your balance

Seaty supports two payment systems. This documentation primarily covers the traditional withdrawal system with manual requests. If your organisation uses Stripe Connect, you will see a simplified sales breakdown view instead, with automated payouts handled directly through Stripe.

How It Works

At a glance: Funds from ticket sales become available 12 hours after each event date ends, and you request a withdrawal that the Seaty team reviews before paying out to your bank.

1. Funds accumulate

As customers purchase tickets with online card payments, the revenue is held securely. You can see this building up in the "pending" balance.

2. Funds become available

12 hours after each event date and time passes, those funds move from pending to available. This waiting period allows payment confirmations and any immediate refund requests to be processed.

3. Request withdrawal

Once you have an available balance, you submit a withdrawal request with your UK bank details. The full available amount is requested in one go.

4. Review and payout

The Seaty team reviews your request, verifies the bank details, and once approved, transfers the funds within 24 hours. All event administrators receive email notifications throughout this process.

Think of it this way:

  • Pending balance is money earned but not yet accessible (events haven't finished)
  • Available balance is money ready to withdraw (events have finished)
  • Withdrawal requests are how you transfer available money to your bank

Accessing Banking

To view banking information for an event:

  1. Navigate to your event's admin page
  2. Select Banking from the Analytics & Finance menu
  3. The system loads your current balance and withdrawal history

Permission Requirements

To view banking information and request withdrawals, you need the Banking & withdrawals permission for the event's organisation.

Understanding Your Balance

The Banking section displays two key balances:

Available to Request Withdraw

This is the amount currently available for you to withdraw. It includes:

  • Ticket sales from event dates that finished more than 12 hours ago
  • Minus any fees absorbed by your organisation
  • Minus any previously approved withdrawals

Important: You can only request withdrawals for the available balance. The "Request Withdraw" button activates when this balance is greater than zero.

Will Be Available After Your Events End

This shows funds from:

  • Ticket sales for event dates that haven't occurred yet
  • Event dates that finished less than 12 hours ago

These funds automatically move to the available balance 12 hours after each event date has elapsed.

Card Payment Breakdown

The Banking view shows detailed information about your online card payments:

  • Available balance: Ready to withdraw now
  • Pending balance: Waiting for event dates to pass
  • Fees absorbed: Platform fees your organisation has chosen to absorb (if applicable)

Requesting a Withdrawal

When you have an available balance, you can submit a withdrawal request.

Step 1: Initiate the Request

  1. Ensure your available balance is greater than zero
  2. Click the Request Withdraw button
  3. A modal opens showing your event details and available balance

The modal reminds you that withdrawals can take up to 5 working days to process, and all event administrators will be notified.

Step 2: Provide Bank Details

You can either:

  • Select a previously used account: If you've made successful withdrawals before, your verified bank accounts appear as options
  • Add a new bank account: Enter details for a different account

Adding a New Bank Account

If entering new bank details, you must provide:

  1. Account holder name: Enter exactly as it appears with your bank
    • Must be at least 2 characters
    • This is verified during the review process
    • Incorrect names may delay your withdrawal
  2. Sort code: 6-digit UK bank sort code
    • Numbers only, no hyphens or spaces
  3. Account number: 8-digit UK bank account number
    • Numbers only, no hyphens or spaces

Important: Only UK bank accounts with valid sort codes and account numbers are accepted. Ensure the details are completely accurate to avoid delays.

Step 3: Verify Your Identity

For security, you must verify your identity before submitting a withdrawal. Why two-factor verification? This prevents unauthorised withdrawals even if someone gains access to your password.

  1. Enter your account password: Provide your Seaty account password
  2. Security code: Click to request a code, which is emailed to your account email address
  3. Enter code: Input the 6-character code from your email
    • Codes expire after a short time
    • If expired, request a new code

Step 4: Accept Terms

Before submitting, you must accept the Seaty Terms of Service and Privacy Policy by ticking the checkbox.

Step 5: Submit Request

Once all fields are completed:

  1. Click Request Withdraw
  2. The system validates your details and creates the withdrawal request
  3. All event administrators receive an email notification
  4. You see a confirmation that your request has been submitted

The full available balance is requested in a single withdrawal. You cannot request partial amounts.

Review and Approval Process

After submitting a withdrawal request:

  1. Email notification: All event administrators receive immediate notification with:
    • Amount being withdrawn
    • Bank account details (last 4 digits shown)
    • Date and time of request
    • Who submitted the request
  2. Team review: The Seaty team reviews the request for:
    • Valid bank account details
    • Correct account holder name
    • Sufficient available balance
    • No outstanding issues with the event
  3. Approval or decline: Requests are typically reviewed within 1-2 business days
  4. Payout: Once approved, funds are transferred within 24 hours
  5. Final notification: All administrators are emailed when the payout is processed

Withdrawal History

The Banking page shows all previous withdrawal requests for the event:

  • Requested: Pending requests awaiting review show the request date
  • Accepted: Green text shows approved withdrawals with approval date
  • Declined: Red text shows declined requests with the reason provided

For each withdrawal, you can see:

  • Amount withdrawn
  • Date requested
  • Last 4 digits of the account number
  • Current status (pending/accepted/declined)

The total of all withdrawals is calculated at the bottom of the list.

Declined Withdrawals

If a withdrawal request is declined, the notification includes:

  • The date it was declined
  • The specific reason for declining
  • Next steps to resolve the issue

Common reasons for declining include:

  • Incorrect account holder name (doesn't match bank records)
  • Invalid sort code or account number
  • Outstanding issues with the event or organisation
  • Insufficient funds due to refunds processed after the request

You can submit a new withdrawal request after resolving the issue.

Bank Account Security

Your bank details are stored securely and only used for approved withdrawals:

  • Previously used accounts appear as options in future withdrawals
  • Only accounts from accepted withdrawals are saved
  • Account numbers are masked (only last 4 digits shown)
  • Full details are only visible during the submission process

Fees and Charges

The available balance automatically accounts for:

  • Fees absorbed: Platform transaction fees absorbed by your organisation (if configured)
  • Handling fees: Any handling fees charged to customers (if configured)
  • Refunded amounts: Refunds issued to customers are deducted
  • Organisation fees: Any custom fees set by your organisation

The amount shown as "Available to Request Withdraw" is the net amount you'll receive after all fees and refunds.

Wondering about VAT on the money you withdraw? Cultural events run by eligible bodies are often VAT-exempt, and many smaller organisers sit below the VAT threshold entirely. For the rules — including when ticket sales count toward the threshold — see our guide on VAT on UK event tickets.

Stripe Connect (Alternative System)

If your organisation has Stripe Connect enabled, the Banking section looks different:

What You'll See

Instead of withdrawal requests, you see a comprehensive sales breakdown:

  • Ticket sales: Total revenue from online payments
  • Organisation fees: Custom fees collected (if applicable)
  • Handling fees charged: Fees passed to customers (if configured)
  • Seaty fees absorbed: Platform fees absorbed by your organisation (if configured)
  • Seaty fees passed to attendees: Platform fees passed to customers (if configured)
  • Total refunds issued: Refunds processed for customers

The breakdown only displays relevant sections based on your event configuration. For example, if you don't charge handling fees or absorb Seaty fees, those sections won't appear.

How Stripe Connect Works

With Stripe Connect:

  • Funds are automatically transferred to your connected Stripe account
  • No manual withdrawal requests needed
  • Payouts follow Stripe's standard schedule (typically 2-7 days)
  • You manage bank details through your Stripe Dashboard
  • All transactions are processed directly through Stripe

If you see Stripe Connect information, contact your organisation administrator or the Seaty team to manage your Stripe account settings.

Timing and Availability

Understanding when funds become available:

12-Hour Rule

Funds become available 12 hours after the event date and time has elapsed. Why 12 hours? This buffer allows payment confirmations to finalise, gives attendees time to request refunds for any issues, and ensures accurate financial reconciliation.

For example:

  • Event date: Saturday 7:30 PM performance
  • Event ends: Approximately 10:00 PM
  • Available for withdrawal: Sunday 10:00 AM (12 hours later)

This applies to each individual event date. For multi-date events, funds become available separately for each date.

Processing Times

  • Request submission: Immediate confirmation
  • Review process: 1-2 business days typically
  • Bank transfer: Within 24 hours of approval
  • Total time: Usually 2-5 working days from request to funds in your account

Business Days

Reviews and transfers only occur on business days (Monday-Friday, excluding UK bank holidays). Requests submitted on weekends are reviewed on the next business day.

Email Notifications

All event administrators receive emails at key stages:

  1. Withdrawal requested: Immediate notification with full details
  2. Withdrawal approved: Confirmation when the review is complete and payout initiated
  3. Withdrawal declined: Notification with reason if the request cannot be processed

This ensures all administrators are aware of financial activity for the event.

Fraud Prevention

The withdrawal system includes several security measures:

  • Identity verification: Password and email code required
  • Administrator notification: All admins are immediately informed
  • Review process: Manual verification of bank details
  • Account matching: Name verification with UK banking records
  • Audit trail: Complete history of all withdrawal requests

If you notice any suspicious withdrawal requests, contact support@seaty.co.uk immediately.

Common Questions

Withdrawal Amounts and Timing

Can I withdraw partial amounts?

No, withdrawals always request the full available balance. You cannot choose to withdraw only part of the available funds.

Why is there a 12-hour waiting period?

The waiting period allows for payment processing confirmation, immediate refund requests from customers, resolution of any scanning or ticketing issues from the event, and financial reconciliation.

Can I cancel a withdrawal request?

Once submitted, withdrawal requests cannot be cancelled through the system. Contact support@seaty.co.uk immediately if you need to cancel a pending request before it is approved.

What happens if there is a refund after I request withdrawal?

If a refund is processed after your withdrawal request but before approval, the Seaty team adjusts the withdrawal amount or may need to decline and ask you to resubmit with the updated balance.

Bank Account Details

What if I need to change my bank account?

Simply select "Add a new bank account" during the withdrawal request process and enter the new details. Previously used accounts remain available as options.

What if my bank details are wrong?

If you entered incorrect bank details, the withdrawal will likely be declined during the review process. The decline reason will explain the issue, and you can submit a new request with corrected information.

Fees

Do I get charged for withdrawals?

No, there is no additional charge for processing withdrawal requests. The available balance already accounts for all platform fees.

  • Summary: View comprehensive financial overview of your event
  • Feed: Detailed list of all orders, payments, and refunds
  • Statements: Monthly and event-based fee statements
  • Stripe Connect: Alternative automated payout system

Need Help?

If you have questions about withdrawals, banking, or payment processing:

  • Email: support@seaty.co.uk
  • Check your withdrawal request status in the Withdrawal History section
  • Review the decline reason if a request wasn't approved
  • Ensure all bank details match your official bank records exactly

The Seaty team is here to help ensure your funds reach you safely and promptly.