At the moment, there are three ways to receive payments, and each of them has a different threshold:
- Paypal, $50 minimum
- Bank transfer to US, UK, EU and Canadian accounts, $150 minimum
- Bank transfer anywhere in the world, $1,000 minimum
You can select your payment preference by going to the Payout Options screen.
If you’ve reached your chosen threshold by the end of the month, we’ll send you a royalty report indicating the amount to be transferred by the 8th of the following month. The payment itself will follow by the 21st of the same month. (The 8th and the 21st are both guidelines, and in most cases you’ll receive your reports and payments well before these dates.)
To give you an example, if your threshold is $150 and at the end of June your outstanding royalties are above $150, we’ll send you a royalty report showing all outstanding royalties when we compile the report. This is still done manually. Let’s say the total is $165 as of 4 July, for the sake of the example. Any sales after this report is compiled are counted towards your next payment, and you’ll receive a bank transfer of $165 by 21 July at the latest.
If your payment preference is Paypal, and you have already added a valid Paypal email address, you’ll often receive the funds within 24 hours of receiving your statement. But we can receive transfers from resellers as well as Apple and Google “up to 45 days after the last day of the month in which purchases were made”. That’s as many as 75 days after the royalty reflects on your dashboard, in other words, if it’s for a tour that sold on the first day of a 31 day month.
If your payment preference is a bank transfer, the transfer is typically made in the currency of the destination account – and in the case of UK and EU accounts, we’ll convert from USD to GBP and EUR at the Wise.com exchange rate on the date of the transfer.
How can we make this more useful?
Was this part of the tutorial not detailed or clear enough? What questions do you still have that could have been answered here?