How do I set up default payout speeds?

When getting paid via the Convoy Platform, flexible payment options are offered on nearly every load. The standard payment timeline is 30-days, but brokers may also offer the platform's QuickPay. QuickPay can include two-day or same-day payouts. If you have a preferred payout speed for your business, you can set up a default payout speed in your payment profile for all loads booked on the platform. This includes choosing a payout speed when you qualify for the QuickPay discount and when you are ineligible for the QuickPay discount.

Note: You must have your banking account information on file in your payment profile to receive direct payouts from the Convoy Platform. A debit card is also required if you elect to receive Same-Day QuickPay.

Setting up your default payout speeds via the Convoy app:

1. Open the app, tap the ‘Profile’ tab in the bottom menu and select ‘Payment Information.’

2. Next, scroll down to ‘Payout Speed’ and toggle on ‘Use default payout speed.’

3. Select the default payout speed for loads when you are eligible for the QuickPay discount:

   1. Standard (free) payout in 30 days

   2. Two-Day (1% fee) payout in two business days

   3. Same-Day (1.75% fee, min $5) payout within 8 business hours

4. Select the default payout speed for loads when you are not eligible for the QuickPay discount:

   1. Standard (free) payout in 30 days

   2. Two-Day (2% fee, min $10) payout in two business days

   3. Same-Day (3.5% fee, min $15) payout within 8 business hours. (A minimum of 5 shipments must be completed within the last 365 days to be able to select Same-Day QuickPay on discount ineligible loads).

5. Scroll to the bottom of the tab and hit ‘Save’.
   

After saving your default payout speed settings in the Convoy app, you can return and update them anytime. You can also update your payout speed on a specific load from the time you book, up until the day of payment. If your default payout speed is not offered on a load, you will be prompted to select a new payout speed.

Setting up your default payout speeds via Carrier web:

1. Log into carrier.convoy.com and select your profile name in the sidebar menu.

2. Click ‘Payment Info.’

3. Under 'Payout Speed,' toggle on ‘Use default payout speed.’

4. Select the default payout speed for loads when you are eligible for the QuickPay discount:

   1. Standard (free) payout in 30 days

   2. Two-Day (1% fee) payout in two business days

   3. Same-Day (1.75% fee, min $5) payout within 8 business hours

5. Select the default payout speed for loads when you are not eligible for the QuickPay discount:

   1. Standard (free) payout in 30 days

   2. Two-Day (2% fee, min $10) payout in two business days

   3. Same-Day (3.5% fee, min $15) payout within 8 business hours. (A minimum of 5 shipments must be completed within the last 365 days to be able to select Same-Day QuickPay on discount ineligible loads).

6. Scroll to the bottom of the page and select ‘Save.’

After saving your default payout speed settings in carrier web, you can return and update them anytime. You can also update your payout speed on a specific load from the time you book, up until the day of payment. If your default payout speed is not offered on a load, you will be prompted to select a new payout speed.