What is a Payout Account?

You can continue to collect incoming payments in your Neat wallet, but you should move funds received as soon as possible and in no longer than 90 days. You can do this easily by making regular outgoing payments and card transactions.

You are also required to set up a payout account. If the funds continue to remain after 90 days, we reserved the right to transfer them to the payout account of your choice. It can be an account with a bank (e.g. HSBC, Citibank, etc.) or a non-bank service provider (e.g. Transferwise, Revolut, N26, etc.), which you can add under “Settings” > “Payments” > Payout Account.

Please note that outgoing fees will apply to the payout transaction - refer to fees here.