Payout IQ – Frequently Asked Questions (FAQ)
1. What is Payout IQ?
Payout IQ is a secure, cloud-based platform that helps businesses automate commission calculations and send payments to independent contractors, vendors, or teams.
We simplify the entire payout process — from calculating commissions to sending payments — all in one place.
2. Who can use Payout IQ?
Payout IQ is designed for U.S. and global businesses that pay teams or contractors on commission.
Common users include tax offices, sales teams, insurance agents, affiliate programs, and influencer networks.
3. Does Payout IQ hold customer funds?
No. Payout IQ never holds or moves your money.
All payouts are processed directly through Stripe Global Payouts using your connected business account. Funds move securely from your bank account to your recipients.
4. How does the payout process work?
- Connect your Stripe Global Payouts account.
- Upload or sync your commission data.
- Review and confirm payout amounts.
- Approve the batch — Stripe sends payments directly to your contractors or vendors.
Payout IQ automates the calculations and approvals, but all money movement happens through Stripe.
5. What payment methods are supported?
Stripe Global Payouts supports local bank transfers, wires, debit cards, and cross-border payments in multiple currencies.
Fees vary by method and destination country.
6. What banks can I upload a report from?
Payout IQ currently supports payout report uploads from the following partner banks:
- Refund Advantage
- Republic Bank
- Santa Barbara TPG
Additional bank integrations may be added in future updates.
7. What are the total fees for using Payout IQ?
Payout IQ Platform Plans
| Plan | Description | Cost | User Fee |
|---|---|---|---|
| Monthly Plan | Pay month-to-month | $49/month | $2 per user/month |
| Seasonal Plan (Dec–May) | Best for seasonal tax offices | $219 total | $2 per user/month |
| Annual Plan | Full year access | $399/year | $2 per user/month |
User Fee Details: The $2 per user/month fee is only charged in months when users receive payouts.
All subscriptions are billed through Stripe Billing. You can upgrade, downgrade, or cancel before your next billing cycle.
All sales are final — Payout IQ has a no-refund policy.
Stripe Global Payout Fees
Stripe charges additional fees when you send money using Global Payouts. These fees are set by Stripe and subject to change.
| Action | Method | Cost |
|---|---|---|
| Funding Your Balance | ACH (US) – Free; FPS (UK) – Free; Wire (US) – $2 per wire | $2 per wire |
| Sending Money (Domestic) | Local bank transfer (US) – $1.50 per payout; UK – £0.50 per payout | $1.50 / £0.50 |
| Wires (US only) | Wire Transfer | $25 per payout |
| Debit Card (US) | Debit Card Payment | $1.50 + 0.75% (min $2) per payout |
| Cross-Border Fees | International transfers | 0.25%–1.25% of payout amount (varies by country) |
| FX Fee (Currency Conversion) | Currency exchange | 0.50% for USD/EUR/GBP transfers; 1% for other currencies (US senders); 2% for non-US senders |
For detailed country-specific cross-border fees, see our Terms & Conditions.
8. What is your refund policy?
Payout IQ has a strict no-refund policy.
All subscription purchases are final, and no refunds will be issued for unused time, plan changes, or early cancellations.
We encourage users to review all plan details before purchasing.
9. What happens if a payout fails?
If a payout fails (for example, incorrect account info or recipient unavailable), Stripe automatically notifies you.
You can correct the information and resend through your Payout IQ dashboard.
10. Is my data secure?
Yes. Payout IQ uses industry-standard encryption, secure data storage, and two-factor authentication (2FA).
We never store sensitive payment credentials. All transactions are protected under Stripe's compliance framework.
11. Can I view payout reports or history?
Absolutely. The Payout IQ dashboard provides detailed reports showing each payout's status, date, amount, and recipient.
You can download reports for accounting or tax purposes anytime.
12. Who do I contact for support?
You can reach our support team at support@mypayoutiq.com.
We typically respond within one business day.
13. Do I need technical experience to use Payout IQ?
No technical background is required.
The platform was built for simplicity — just connect your Stripe account, upload your payout data, and approve.
14. Can Payout IQ be used outside the U.S.?
Yes. With Stripe Global Payouts, you can send payments to contractors in over 100 countries, depending on Stripe's supported regions.
15. How do I close my account?
Email support@mypayoutiq.com with your request.
We'll confirm your identity and close your account within five business days.