In the new payout system it will not allow me to enter the IBAN, because the bank account country is different from my home address. For “bank account country” I can only select my own country and USA (??). My bank is Revolut, what am I supposed to do?
Also it’s not very clear, is the new payment system only for Elements authors, or for Envato Market authors too?
The changes to our payout experience provide Authors with access to a wider range of payment options , and can allow them to benefit from potentially lower fees, faster transfers and more flexibility. These changes are intended to benefit our Author community and to support our Authors in succeeding with their creative endeavors.
If I can’t use Revolut this change will mean higher fees and inconvenience having to move my money between banks every month.
Do you know if the new system is mandatory for Market authors, or just Elements?
I’m using Revolut so I don’t have to touch local banks, I know that’s an option.
Are you an author at Marketplace or Elements?
There’re still 3 payment methods, did it change? ( new payout system? )
Why don’t you change the country then? If that’s the problem. Or you could use Payoneer/PayPal option.
This is the email that I got:
And when I open the link, this is what I see:
Also when I opened my dashboard on codecanyon I saw a popup telling me that I need to migrate to the new payment system or I won’t get paid this month. What you screenshotted is still there, I see no notifications there.
It doesn’t say anywhere if this is only for Elements authors or not, I’m really confused.
I’m on PayPal payment system, I don’t have any issue with it. Create a ticket and let the Envato support check if there’s any issue.
I just hope it doesn’t take a week like my last ticket, that’s why I asked here
As far as I know, new payment system now works only for Elements. Market still work on the old one.
Apart from the illegally high fees you are paying (around 10%)
Envato/PayPal has an agreement - there’s no charges. For example, if you have 100$ on your Envato account, you’d get 100$ to your PayPal. Charges are effective from PayPal to your bank account ( ~3.5% )
SWIFT costs around 25$+~20$. If you’re not withdrawing more than 1500$, it’s the same amount you’re losing on every transaction.
If you’re getting paid from a person to your PayPal, you’re right. That’s why I add 12% as “PayPal/Transfer fees” to the total amount or ask them to use WISE/SWIFT
If you withdraw to Revolut it’s a flat $25 fee, so if you withdraw more than $750 you are losing money with PayPal.
All right. You also have 5% fee on the currency conversion charge with PayPal