Scheduling payments

Pick a date, and Karat sends your payment on that day, once or on repeat. Use this for recurring payments such as retainers, stipends, or regular contractor payments.

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Schedule a one-time payment

1. Open your Payments Dashboard and select Send payments. Add your recipients and amounts, then select Continue.
2. Under Payment settings, pick a Send on date. It can be any day after today, up to 12 months out.
3. Check the summary of recipients, amounts, and fees, and choose the account that funds the payment.
4. Select Schedule payment.

To pay right away instead, leave Send on at Today. Scheduling a payment doesn’t move any money. Karat sends the payment on each scheduled date from the account you selected. Payments scheduled on a weekend or bank holiday arrive the next business day.

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Set up a repeating payment

1. Start the same way: select Send payments, add recipients and amounts, then select Continue.
2. Turn on Repeat this payment.
3. Enter a Schedule name so you can find the schedule later, and set Start on to the first send date.
4. In Repeat on, choose how often the payment repeats, such as every week or monthly, or choose Custom.
5. For Custom, set Repeat every to a number of weeks or months. For weeks, choose the weekdays the payment sends on. For months, choose On day to pick a day of the month from 1 to 31, or Last day.
6. Under Ends, choose Never, On a specific end date, or After a set number of payments.
7. Select Confirm schedule.

If you choose day 29, 30, or 31, months that don’t have that day send on their last day instead. Choosing a day in On day also moves Start on to the next send date for that day. The summary shows the next send date and the monthly and yearly totals for a repeating payment.

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See what’s coming

Open the Scheduled tab on your Payments Dashboard.

• Upcoming lists every payment in the next 12 months by send date. Switch between Table and Calendar to view the dates as a list or on a calendar.
• Recurring lists your repeating schedules. Expand a schedule to see its recipients and whether each one is sending, paused, or skipped.

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Change or stop a schedule

From the Scheduled tab, you can:

• Skip a date. In Upcoming, select Skip on that date. The rest of the schedule still goes out. To send on that date after all, select Restore.
• Pause. Select the pencil, then Pause. Nothing is sent until you select Resume. Payments that already sent don’t change.
• Edit. Select the pencil, then Modify payment details to change the recipients, amounts, Send on, or Repeat settings, then select Save. Changes apply to every future payment from today, for every recipient in the schedule. A paused schedule stays paused until you resume it.
• Delete. Select the pencil, then Delete. For a one-time payment, select the bin. Future payments won’t send, past payments don’t change, and this can’t be undone.

Karat asks you to confirm each of these actions before applying it.

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Scheduling through the API

Developers can create and manage schedules with the Payouts API. See Payment schedules. If you have questions, contact Karat Concierge. _{Karat is a fintech company, not an FDIC-insured bank. Banking and Card services provided by Grasshopper Bank, N.A., First Internet Bank of Indiana, and Cross River Bank, Members FDIC.}