--- title: "Bank accounts and payouts" description: "Add the bank accounts Qualy pays you into, set the default per currency, and control how payout accounts are selected." lastModified: "2026-08-27" lang: "en" wordCount: 1327 url: https://qualyhq.com/training/settings/bank-accounts-and-payouts --- ## Site navigation - [For schools](/international-education/for-schools.md) — For international education schools - [For agents](/international-education/for-education-agents.md) — For international education agents - [Explore](/training.md) — Watch videos on how to use Qualy - [About](/about.md) — Learn about Qualy's mission and values - [Pricing](/pricing) - [5-min demo](/demo.md) - [Login](https://dashboard.qualyhq.com) # Bank accounts and payouts > Where the money you collect actually lands. ## At a glance - **Intended for:** Everyone - **Available in:** All plans - **Reading time:** 5 minutes - **Last updated:** 11th August 2026 ## Quick summary Settings → Payment preferences → Bank accounts & payouts is where you add the accounts Qualy pays you into. Add one account per currency you receive — pick the currency, then the country, and the form asks for that country's details (BSB number in Australia, routing number in the US, IBAN in much of Europe). One account is the primary fallback — when a payment arrives in a currency with no matching account, Qualy converts and sends there. The same page holds your payout preferences, including approval before sending and how Qualy chooses between accounts. You can add or change accounts yourself at any time; changes apply to every payout sent after you save. ## Overview When customers pay you through Qualy, the money reaches your bank through a **payout**. This page — **Settings → Payment preferences → Bank accounts & payouts** — is where you tell Qualy which accounts to pay into, and how to choose between them. It's part of first-time setup, and the place you come back to when you change banks. You can add, change and remove bank accounts yourself at any time. You don't need to ask us, and we deliberately don't enter bank details sent to us by email — a typo on our side would send your money to the wrong place. ## Adding a bank account 1. Click **Add a bank account**. 2. Pick the **Currency** the account holds. 3. Pick the **Country of bank account**. The form then asks for that country's details — **BSB number** and account number in Australia, **Routing number** in the US, sort code in the UK, **IBAN** across much of Europe. 4. Enter the details and save. Tick **Primary bank account** if this account should be your fallback — the one Qualy converts into when a payment arrives in a currency you have no account for. Check every digit before you save. Money sent to a wrong but valid account may not be recoverable — we'll do our best to help, but the bank on the other end decides. Add one account per currency you regularly receive. A payment in a currency with a matching account is paid out without conversion; anything else is converted and sent to your primary account. ## Managing your accounts The list shows each account with its currency, name and number. From here you can: - **Set as default** — make an account the primary for conversions. - **Remove** — retire an account. Past payouts keep their record; only future payouts are affected. Click an account to see its full details. ## Payout preferences Below the account list sit the settings that control how payouts behave: - **Payout enabled** and **Payout interval** are managed by Qualy and shown for reference — payouts are sent on the **Instant** schedule. - **Require approval** — when ticked, payouts wait for a manual approval before Qualy sends anything. Useful if you want eyes on every outgoing transfer; for amount-based rules, use approval policies instead. - **Bank statement descriptor** — what appears on your bank statement when a payout lands: the customer's first and last name, or their reference number plus the name. The reference makes reconciliation much easier when several students share a name. - **Bank account selection** — how Qualy picks the account for your payouts (next section). - **Partnership bank account selection** — the same choice, applied to payouts Qualy sends to your partners. A partnership can override this on its own profile. ## How Qualy picks the bank account When a payout is created, Qualy selects among your active bank accounts by currency, in an order set by **Bank account selection**: - **Settlement currency** (the default) — prefer the account matching the currency Qualy receives the funds in from the payment provider. Fewest conversions on the payout side. - **Original payment currency** — prefer the account matching the currency your customer paid in. - **Payout currency** — prefer the account matching the currency of the payout itself. Whichever mode you choose, Qualy works down the remaining currencies as fallbacks, then your primary account, then any active account — so a payout is never stuck for lack of a perfect match. Selection happens at the moment the payout is sent, not when the payment was made. That's why changing your bank details applies cleanly to everything sent after you save — including retries of previously failed payouts. Partners add their own bank details through their portal — you don't collect or enter them. One prerequisite trips people up: the partnership needs a legal name on its profile before the partner can complete their bank details. ## Frequently asked questions ### We changed banks — can you update our bank details for us? You can do it yourself, and it's safer that way. Go to Settings → Payment preferences → Bank accounts & payouts, click Add a bank account, enter the new details, set it as default for its currency, then remove the old account. We deliberately don't key in bank details sent by email — a typo on our side would send your money to the wrong place. ### I added a new bank account, but a failed payout still shows the old one — why? The payout record shows the account it attempted at the time it ran, so a failed payout keeps displaying the old account. That's history, not a problem. Qualy selects the bank account at the moment a payout is sent, so once your new account is saved and active, retrying the payout uses the new details. ### A payment shows as paid, but nothing has arrived in our bank account. Where is the money? Paid means your customer's money reached Qualy — the payout to your bank is a separate step. Check the payout record for that payment: if the payout hasn't been sent yet, is awaiting approval, or failed, the money is still safely held. Once a payout is sent, your bank still needs to settle it, which is not always same-day. Only worry when a payout shows as sent and several business days have passed — then message us from Support. ### What happens when a payment arrives in a currency I have no bank account for? Qualy converts the money to the currency of your primary bank account and sends it there. If you'd rather receive that currency without conversion, add a bank account in that currency and the conversion stops. ### Can I make payouts wait for my approval? Yes. On the same page, under the payout preferences, tick Require approval. Payouts then wait for a manual approval before anything is sent. For rules like "only payouts above a certain amount need approval", use approval policies instead. ### Why can't my partner add their own bank details? The most common blocker is that the partnership has no legal name yet — the partner can't complete their bank details until you've filled in the legal name on the partnership profile. Add it, then ask them to try again. ### What does removing a bank account do to old payouts? Nothing. Past payouts keep their record of where the money went. Removing an account only stops it being used for future payouts — but make sure another account (or a new default) is in place for that currency first. ### Which account does Qualy pick when I have several? By default, the account matching the settlement currency — the currency Qualy receives the funds in. You can change the logic under Bank account selection: prioritise the original payment currency, or the payout currency itself. When no account matches the preferred currency, Qualy works down the list and falls back to your primary account. ## Prefer doing this via the Qualy API? Head over to our developer docs for everything you need—endpoints, examples, and simple how-tos. [View API Docs](https://docs.qualyhq.com/docs) ## More on Qualy **Industries** - [For schools](/international-education/for-schools.md) — For international education schools - [For agents](/international-education/for-education-agents.md) — For international education agents **Support** - [Training](/training.md) - [System status](https://qualyhq.statuspage.io/) — Qualy system status - [Product updates](https://changelog.qualyhq.com) — As we work on Qualy, here we spotlight what we’ve learned and updated across our products - [Contact](/contact-us.md) **Product** - [Demo](/demo.md) - [Enterprise](/enterprise.md) - [Testimonials](/testimonials.md) — Learn what some customers have to say about Qualy - [About](/about.md) — Learn about Qualy's mission and values - [Blog](/blog) — International education payments blog by Qualy - [Trust center](/trust.md) - [API](/api.md) — Qualy API for international education payments - [Zapier](/zapier.md) — Connect Qualy to 7,000+ apps with Zapier - [NexPay](/nexpay.md) — Qualy + NexPay — automate everything around the payment **Legal** - [General terms](/terms-and-conditions.md) - [Payer terms](/terms-for-payers.md) - [Privacy policy](/privacy-policy.md) - [BECS DDR](/becs-dd-service-agreement.md)