As we've seen these types of questions get asked many times on this
discussion board,
we though it'd be very beneficial for everyone to see it in one place:

Payouts are automatically initiated within two business days after you
successfully charge an order. However, your bank may take up to three
additional business days to register the payout in your bank account.
To learn more about your bank's turnaround time for electronically-
deposited funds, we recommend contacting your bank representative.

A few things to remember:
- Payouts aren't initiated on weekends or holidays.
- The 'Payout' tab in your Checkout account is not in real time and
should update within 24 hours of a payout or charge.
- You must have earned a balance at the time of disbursement or
transfer of at least $1 in order to receive a payout.
- A payout will only occur if you haven't reached your monthly payout
limit. Please see http://checkout.google.com/support/sell/bin/answer.py?answer=25399
for more information on payout limits.
- You do not need to transfer money to your bank account.  The payout
process automatically initiates once you've successfully charged an
order.
- You can still process orders even though you have not yet verified
your bank account.  You'll receive a payout to the bank account
specified in the Merchant Center once it's been verified.

As Google doesn't initiate deposits on weekends or banking holidays,
if you charge an order on Thursday, Friday, or Saturday, your deposit
will be initiated on Monday. If Monday is a banking holiday, your
deposit will be initiated on Tuesday.

If you charge multiple orders on one day, your payouts will be sent
together. However, if you charge orders on different days, your
payouts will be staggered. For example, if you charge Orders 1, 2, and
3 on a Tuesday and Order 4 on a Wednesday, a combined payout for
Orders 1, 2, and 3 will be sent on Thursday, and a separate payout for
Order 4 will be sent on Friday.

Due to the public nature of the forums, we're unable to comment on
specific accounts.  Again, the deposit can take 3-5 business days to
show up in your company's bank account.  If it's been longer than five
business days and you still have not received a payout, please contact
us directly at http://checkout.google.com/support/sell/bin/request.py.
We appreciate your understanding.

Please visit https://checkout.google.com/support/sell/bin/topic.py?topic=8676
for more information on payouts in the Merchant Center.

Happy Selling,

The Google Checkout Team