You can request to cancel your account by reaching out to the Customer Experience Team using the contact form on the bottom right hand side of your Payability dashboard.
We require a 30-day processing period for all cancellations, as discussed during the opening of your account and as noted in your contract.
There is no fee or penalty for closing your Payability account. Please do not change your marketplace payee or marketplace login until you receive email confirmation your cancellation is complete after the 30 day processing period.
Day 1: Reach out to the Support Team to begin the cancellation by writing to email@example.com. You will receive an email confirmation that the 30 day cancellation processing period has begun.
Days 2-29: Business as usual. We will continue to advance your sales each day and our fee will be assessed.
Day 30: The cancellation processing period is complete. Your Payability account will be suspended which means we have stopped advancing sales and no further fees will be charged. As a reminder, your cancellation is complete once any outstanding balance is settled. You will receive an email confirming the outstanding balance owed to Payability (if applicable). The outstanding balance is determined by adding Cash Out + Fees then subtracting any Marketplace Payments we have already received. You can review the numbers on the Reconciliation View in your dashboard.
After 30 days: Your outstanding balance will be collected from your next marketplace payment. You will receive a confirmation via email that your cancellation is complete and directions on how to disconnect Payability from your marketplace.
- If marketplace payments are sent directly to Payability: We will wait for the next payments to be received to cover the outstanding balance. Once the balance has been settled any funds received in excess of the balance owed will be made available to you. You will receive an email confirming the outstanding balance has been settled and steps to disconnect Payability from your marketplace and update the deposit account back to your own.
- If marketplace payments are sent directly to your bank account: Payability will continue to debit your bank account the normal advance rate percentage of each marketplace payment until the outstanding liability has been repaid. Any funds debited in excess of your liability will be made available to you to transfer to your bank account. Once processed and posted, you will receive an email confirming the outstanding balance has been settled and steps to disconnect Payability from your marketplace.