What do I need to know about Disbursements/Payouts?

FUNDS

There will be no issues receiving your funds and rightful monies once your business has verified. It usually takes 2 days to receive your funds into your bank account, once you request it. Some exotic countries may take a little longer.

FEES

Kovena does not impose any fees for transferring your payouts. However, it is important to be aware that your bank may charge an inbound fee for international transfers, which is typically around $15 to $20. This fee is the responsibility of the merchant to cover. This is something Kovena, or any other payment provider, has no control over.

To minimise these costs, Kovena has built the ability for you to pick and choose how often you get paid (frequency) We suggest opting for less frequent payouts, such as bi-weekly or monthly. Additionally, we can set up your account to initiate payouts only when a specified minimum balance is reached. For instance, we can arrange for transfers to occur when your payout balance reaches at least $500.

If you wish to modify your payout frequency, please contact us at support@kovena.com.

FREQUENCY/TIMING

Merchants are able to make disbursement of funds into their bank account on any type of schedule, e.g. weekly, bi-weekly, monthly, once a specific amount is reached, or on a specific day. If you need to change your payout settings—including frequency, timing, or currency—the request must be sent via email to support@kovena.com by the administrator who originally signed the Terms and Conditions.

Requests sent from any other email address or user cannot be processed.

To ensure a swift update, your email must include the following four key pieces of information:

• PMS or Service used
• Hotel Name
• Admin Name
• Change Description: (E.g., "I want to change my payout from weekly to monthly.")

If the request is complete and the sender is confirmed as the authorized administrator, Kovena will confirm the change within 24 business hours.