How to Add Your Bank Details for Payouts
Setting up your bank details correctly ensures you receive your payouts on time. Here is a step-by-step guide to adding and verifying your bank information.
ELEXBIG
Last Update 19 dage siden
- Log in to your Vendor Dashboard.
- Navigate to Settings > Payout Info.
- Choose Add Payment Details > Direct to Bank Transfer.
- Bank account name: Must match the registered name on your vendor account exactly.
- Account number: Provide your full Nigeria account number in the format XXXXXXXX.
- Bank name: Enter your bank name
⚠️ Important: If your account name doesn't match your Kapsule profile exactly, payments may fail or be delayed. Double-check your details before saving.Save and Verify Your Details
- Review all details carefully for accuracy.
- Click Save Changes.
Monitor Your Settlements
- Once verified, your payouts will follow Elexbig's scheduled settlement cycle.
- View your payment history under Dashboard > Revenue.
- If you update your bank details, allow up to 5 business days for changes to take effect.
📌 Note: Payout frequency may vary depending on your vendor account type and sales volume. View your specific schedule in your dashboard.Frequently Asked Questions
Can I use someone else's bank account for payouts?
No. The bank account must be in the same name as your vendor account for security and compliance reasons. This protects both you and Elexbig from fraud.
How long does it take for payouts to appear in my account?
Payouts typically arrive within 1, 2 business days after processing.
Can I change my bank details later?
Yes. You can update your bank details at any time in Settings > Payout Info. However, changes can take up to 5 business days to process.
What happens if my payout fails?
If a payout fails, the funds will be returned to Elexbig and held securely. You'll receive an email notification with instructions to correct your bank details. Once updated and verified, we'll reprocess the payment in the next settlement cycle.
Do I need a business bank account?Not necessarily. You can use a personal account if you're a sole trader, provided the account name matches your legal name as registered with Elexbig. However, a business account is recommended for easier accounting and tax reporting.
Need More Help?
If you're experiencing issues adding your bank details or haven't received a payout, please contact our Vendor Support team with your vendor Email and a description of the issue.
Still Need Help?
Our customer support team is here for you.
Chat with Elex, our AI assistant. Look for the chat icon on this page
Open a support ticket
Email us at [email protected]