Your money will go to Payoneer in both instances. The $500 mentioned, relates purely to the withdrawal threshold for SWIFT and just means they won’t send you your money until you have a balance of $500 or over if you are using SWIFT.
You aren’t limited to one specific withdrawal type depending on your balance amount, and your withdrawal method won’t change depending on your balance amount. Choose Payoneer and your money will be sent to Payoneer whether it’s $50, $500 or $5000.
So I assume i can set up both PayPal and Payoneer and use one at a month, so it will be me and my partner can withdraw every alternative month, Is that right? Is there option will be available to switch between accounts every month?
Can you clarify @jamesgiroux
They’ve not mentioned you can’t change it every month, so unless they tell us otherwise, there is nothing wrong with changing your payout method every month. Although what you’re suggesting is very unlikely to work with the whole…
we are only making payments to payout destinations owned by the Envato account owner (the person or entity that created the account, agreed to the terms and conditions and completed the tax information)
So are we still able to use the Single Payment option? Why isn’t this post more descriptive?
This sounds to me that it will kill any form of teams, and will introduce new fees some will need to support.
What if a member of a team is not using the same payment method as the account holder? Will the account holder need to find a solution to pay the member (e.g: resort to 3rd party services to exchange from PayPal to Payoneer for example?)
They don’t do anything UNLESS it makes more money for them!
Look at their other announcements and changes they make every month.
They think all authors are their slaves, we work hard and they earn more and more money And they make these decisions to have more money in their pockets!!! Nothing else is in these decisions!!!
They earn Millions of Dollars each month and then they reward a Envato T-SHIRT for winner of their contests !!! VERY VERY VERY FUNNY !!!
And i saw each time authors work hard to think for a new idea, to create project, to render their projects and submit it to only win a Envato T-SHIRT!!!
What do you think my friends!!! DO YOU THINK AT ALL !!!
Every envato announcement is adventurous these days, Authors are running pillar to post to get adapted, i personally feel some times being unorganized is simple and stress free makes life easier ️
You will still be able to use Payoneer even if you generate high earnings balances.
The amounts of $500 for Swift, $50 for PayPal and $20 for Payoneer are the minimum balances you’ll need to reach to trigger an automated payout, rather than the maximum amount you’re allowed to earn to make use of these payment providers.
For example, if you set up Payoneer as your withdrawal destination and your earnings balance at 23:59:59 AEDT on Saturday, March 31, 2018 is $1000, we will automatically pay out $1000 to your Payoneer account on Monday April 16, 2018 AEST.
All earnings balances higher than $500 for Swift, $50 for PayPal and $20 for Payoneer will be paid out monthly for all authors. You will no longer be able to hold balances higher than these amounts for more than one month.
This is not about growing our commissions, it’s about ensuring that earnings are paid out regularly to the one person/entity who owns the account and filed paperwork for it. Envato does not gain from this change. We do not want authors to accumulate funds for longer than one month. This is in line with our products such as Envato Elements and Studio.
All payout destinations must be owned by the Envato account owner (the person or entity that created the account, agreed to the terms and conditions and completed the tax information). For example, if the Envato account is owned by a company, then the payout destination earnings are paid into must be owned by that company.
Likewise, if the Envato account is owned by an individual, the payout destination that earnings are paid into must be owned by that same person.
I can confirm that we will be making monthly automated payments of all earnings balances higher than $500 for Swift, $50 for PayPal and $20 for Payoneer. You will be able to choose which payout destination you would like to use.
Our goal in these changes is not punish authors but to make sure we’re operating in line with our terms and only sending payments to payout destinations owned by the Envato account owner.
Unfortunately, that’s not correct. This change means that you will no longer be able to manually request withdrawals. If your earnings balance at the end of the month is lower than $500 for Swift, $50 for PayPal and $20 for Payoneer, you will not be paid out in the following month. As soon as your end of month earnings balance becomes higher than these amounts, it will be automatically paid out to the payout destination you set up. This process will affect all authors.
Yes. If you have multiple accounts with Envato, you will only be able to use the same payout destination for each account.
For the moment, our goal is to get automated payouts happening monthly, which is in line with the systems we use for Envato Elements and Envato Studio. There are no plans to change the frequency of payouts but I will take this feedback to our teams for review in the future.
You will be able to update your payout details but the change must be to an account owned by the same person who is the Envato account owner.
Yes, authors will be able to change their payout destination in the future but it can only be to their own account. An author will be able to use SWIFT for Envato Market and Payoneer for Elements. These changes only affect payout destinations and accounts on Envato Market.
It is your responsibility to ensure that your payout details are up-to-date. Please give yourself ample time to make any necessary changes. If you enter the wrong details, your payout will fail, which will likely delay receipt of your earnings and duplicated fees.
If you change your country of residence, you will need to update your tax info to ensure you are complying with all relevant laws.
At this time Envato uses the United States dollar as a base currency. If that changes and new currencies are made available, we’ll make sure authors are informed.
In terms of paying other employees in your company, you should seek your own advice on that. Banks and payment gateways usually can help you with that. Envato can only make payouts to payment destinations owned by the person/entity who owns the Envato account.
Not quite. If you have an earnings balance of $125 at the end of March 2018 and you have set up your PayPal account as your payment destination, your full earnings balance of $125 will be paid out to your PayPal account on Monday April 16, 2018.
Ok if you remove the option for multiple withdrawal, why don’t you then add the options to transfer funds via Envato accounts? It’s not rocket science to do this!
In this way all widraws will go to Envato account owner and partnerships can sty the same!
Surely there are business considerations and/or regulations around being able to offer transfering funds between accounts?
Standard withdrawals is a process that officially includes Envato. The agreement between collaborating authors has nothing to do with Envato meaning that transferring funds would be effectively unmoderated even though it would be on envato’s platform.
If authors could transfer or move funds about then they could manipulate balances which may impact or alter when/how much/how withdrawls happen and as such render the new automation pointless.
Being able to do this would create all sorts of potential for naughty behaviour.
I don’t want monthly payouts. This results in paying more fees.
Why is the Payoneer fee for Element payments $3 and the Payoneer fee for Marketplace payments $15?
@jamesgiroux you mention this " If you enter the wrong details, your payout will fail, which will likely delay receipt of your earnings and duplicated fees.What are those fees - for paypal for instance?and why we don’t all authors vote for such big changes when they occur - is there a LAW in U.S. that requires Envato to pay it’s authors every month?
I think you don’t understand my questions. Sometimes you just can’t make changes during one month. Situations like issues with local bank needs more time.
I think it’s stupid !!!
If for example I have a payoner.
But skrill have issued better conditions for withdrawing money, or swift, or something else to appear, and I’ll go to the skrill, then the payoner makes a conclusion advantageous again, then I can not choose?
It’s not for us, it`s just for who ?
In that example, just change your withdrawal method. If Skrill issue better conditions, use them. If things change down the road and Payoneer are more advantageous, then change to them instead. There are no limitations to who you can withdraw to out of the available options… as long as the accounts belong to you, then you’re not limited to one provider. You just can’t withdraw to two sources in one month.
Just like happens now… if you can’t sort out a new withdrawal method in one month, and your current method won’t accept funds… then the money will be sent anyway, the transfer will fail, and the funds will be returned to your account. That will happen until the issue is resolved.
Although I appreciate that now you can just not make a withdrawal if you know there’s going to be an issue (and manage to turn off, or not instigate, your payments by the last day of the month).