Along with event creators all over the world, we’ve been monitoring the COVID-19 situation as it evolves. It’s a very complex and emotional process and our priority remains the health and well-being of you, your staff, and your attendees.
To make sure your funds are available in the event you need to issue refunds to your attendees, we are holding advanced payouts for all future and published events in your Eventbrite account. Take a look at this short guide to get additional information on how Eventbrite advances work, where we hold your funds, and the benefits of post-event payouts to you and your team.
Overview of Advanced Payouts (a.k.a. Scheduled Payouts)
When you use Eventbrite Payment Processing, the standard timing for receiving ticket sales is 5 business days after the event. In some cases, Eventbrite may advance a portion of ticket sales to you prior to the event. We call these advances “scheduled payouts” or “advanced payouts” and they are typically processed on a daily, weekly, or monthly basis. A scheduled payout is an early advance of ticket sales that is subject to a maximum amount. It also acts as a reserve, allowing your customers to receive any necessary refunds.
If you are receiving scheduled payouts, the ticket sales processed since the previous payout, sales in excess of the cap, and amounts held in reserve are all sent to you as a final payout 5 business days after the event successfully concludes.
COVID-19 and Advanced Payouts
Due to the spread of COVID-19, we are seeing an increase in event cancellations, refund requests, and postponements. As a result, we have proactively moved all creators to our standard post-event payouts schedule. By having the money available in your account, you’ll have the needed flexibility to handle refunds or potential cancellations should your events be impacted.
The details of this advanced payout benefit are outlined in the Eventbrite Merchant Agreement.
All ticket sales proceeds are in a separate bank account
Eventbrite maintains separate bank accounts — one for operating purposes and one for creators. This ensures that funds are not commingled with event ticket sales from consumers. All ticket sales processed and collected from consumers on your behalf are deposited into the specific bank account you designate after the event has occurred.
Benefits of post-event payouts for event creators
Pausing advanced payouts ensures your funds are protected and available in the event you need to issue refunds to attendees. While you are responsible for refunds and attendee disputes, Eventbrite must facilitate refunds to attendees under certain circumstances — including cancelled or significantly changed events, or events with a high likelihood of chargeback loss. Maintaining funds in your account to cover potential refunds protects you from having to pay for unexpected refunds out of pocket.
Benefits of refunding
Even when you think a refund may not be owed, issuing a refund might be the best course of action. An attendee who doesn’t receive a refund could chargeback their ticket with their credit card company. If the card company rules in favour of the attendee, this would result in a loss of the ticket amount plus a penalty fee. By proactively refunding, you will avoid incurring the greater loss of a chargeback amount plus the chargeback fee.
For tips on how to help prevent chargebacks, check out this Help Center article.