Kooday has decided that a 4 week stagger is necessary in processing payout requests
What does this mean?
It means that when a member requests a payout – it could take 4 weeks before it arrives their AlertPay account.
Points to remember:
- Kooday collects all payout requests every Thursday
- Kooday will send payout requests to AlertPay after a 3-4 week hold
- All payout requests should be submitted by Wednesdays by 12:00pm EST
- Members can request one payout weekly
- $5 is the minimum payout
- AlertPay fees apply on payouts
- Kooday has compensated this charge by adding extra money on weekly payouts
Examples:
Jill had $300 in her Kooday Alertpay account right after she got paid on Thursday Oct 7th
She decided she would submit a payout request of $150 and did it right after she got paid
- The current Pay-Week is between Thursday Oct 7th and Wed Oct 13th 12:00 PM EST
- There is a 4 week stagger period for payouts so the weeks for Jill will look like this:
Week 1 – Thurs Oct 7 – Wed Oct 13
Week 2 – Thurs Oct 14 – Wed Oct 20
Week 3 – Thurs Oct 21 – Wed Oct 27
Week 4 – Thurs Oct 28 – Wed Nov 3
THURSDAY NOV 4 – Jill receives an email from Alertpay that her $150 has arrived in her Alertpay account.
That example looks like that because Jill submitted her request immediately after the Payout on Thurs Oct 7.
