New Elements Author payment system - rollout paused (see update)

Does it mean the sender’s account is also located in the US? If yes will recipients be required to submit forms to Payoneer before accessing their funds (As part of their automated form collecting feature if the payer is in the US)?
It’s requested on behalf of the sending company. Not Payoneer.

Thank you very much!! :smiley:

I still do not have USD and I am located in EU also… @BenLeong can you please look into it? I would really prefer to have the payments in USD and do not loose any money in conversions. Thank you!

Hi all. We’ve updated the Setting Your Elements Payment Method article with some more information.

A few more answers to the questions raised so far:


Setting up Payoneer as your payout method

  1. Access your payout method via https://author.envato.com/profile/payment
    Alternatively, you can select ‘Payout Method’ when logged in.

  2. Fill out your General Information
    Start by filling out your personal or business details.Once you have filled out your general information, you will be directed to select a Payout Method.

  3. Set your Payout method
    There are several different payout methods to choose from. Your options are Bank Transfer (Bank Transfer, IACH, SWIFT bank wires, USD to USD SWIFT wires, Payoneer) or Paypal.

Note that the Payout Method screen now more accurately labels the location field “Bank Account Country.” For Payoneer, this is the section where you will need to select “United States.”


Receiving bank transfers in USD

The default transfer options involve payment in local currency for the recipient (137 currencies), but the option for bank transfers via USD can be set up for specific countries. Some countries already have this enabled, such as Poland (as reported earlier in the thread by @az_studio).

Note that this option will generally involve higher fees, as it requires wire transfer using the SWIFT network. For example, paying by bank transfer to Poland in Euros only has a $1 fee, while a USD transfer to the same location incurs the $25 SWIFT fee.

If you require a USD bank transfer option for your country, and it is not currently available in your Payout Method settings: please open a ticket with Envato Author Support. They will send your request to our Author Earnings team, who can make the necessary changes.


Other questions:

We’re checking this one at the moment, as it may be connected to you only joining Elements very recently. I’ll let you know once that’s resolved for your account.

Could you please post the other (Author Dashboard) question in the current Earnings Report thread? I’ll keep this thread focused on the new payment system.

No. The new system has changed the way we process these payments, but there are no changes required in terms of submitting new forms to Payoneer.

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Is there an option for bank transfers via USD to Belgium? And does it involve higher fees?

In the Payoneer account, the bank address is: 1731 N Elm St Commerce, GA 30529 USA
And envato automatically exposes: 807 Dorsey St, Gainesville, Georgia, 30501.
So what address should I put in the address field? What is the correct postal address? I can’t indicate the country of the United States, but indicate my address, which is in another country.

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  1. Awesome, thanks I can select now USD, I just have set up the payment method.

2.Though ACH sounds interesting. I wanted to check if I can transfer USD to Wise in USA and than transfer it to Polish bank. This way I could save some money on transfer fees because Wise has fee around 3,5$ and you said that ACH in Envato has a similar 3$ fee. This could be the best way for many authors here.

However I have a feeling that the payment-setup Envato page does not update fees. For example USD-USD swift displays 3$ (it should be 25$, right?). Whereas USD-USD ACH displays 25$ (it should be 3$, right?)

I will be grateful if you could clarify what are the mentioned fees.

I think the steps were updated today so you can apply your own personal address information within General Information, and only on the next step (when you select Bank Transfer) you can select “United States” as Bank Account Country in order to nominate your Payoneer account bank location. So you won’t have to fill in Payoneer’s addrss by hand.

First Elements stop the bonus system and people start losing money.

Now they are adding additional fees for money transfers.

It was %100 free to send money from Payoneer to Payoneer now it’s $1

Envato Elements system converting to Master&Slave method.

Greed is a very dangerous sin.

Tic tac tic tac tic tac tic tac Envato

Why did you change anything at first place? You just created confusion, if it ain’t broke, don’t fix it!

How can I enter my physical address when I select USA country. I don’t live in the USA. And if I indicate the USA, then it is stupid to write my address that is not in the USA.

@benleong is welcome to make corrections if this is wrong.
Ben mentioned an updated guide on adding payoneer today:

Setting up Payoneer as your payout method

  1. Access your payout method via https://author.envato.com/profile/payment
    Alternatively, you can select ‘Payout Method’ when logged in.
  2. Fill out your General Information
    Start by filling out your personal or business details.Once you have filled out your general information, you will be directed to select a Payout Method.
  3. Set your Payout method
    There are several different payout methods to choose from. Your options are Bank Transfer (Bank Transfer, IACH, SWIFT bank wires, USD to USD SWIFT wires, Payoneer) or Paypal.

Note that the Payout Method screen now more accurately labels the location field “Bank Account Country.” For Payoneer, this is the section where you will need to select “United States.”

Which if i understood correctly, means that details you enter on General Information are your own information including your own physical address outside the US.
Only when you press next and move on to Payout Method should you enter United States as the country of the bank, and proceed to adding your routing / account numbers as they show in your Payoneer.

I’ve done this today, only when i deleted the old saved entry was i able to select “Bank Account Country”.

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@benleong
Autofill adress does not match the address of the Payoneer. How to be?

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I have this payout system set on some other platform and for First Century Bank there is as well 807 Dorsey St, Gainesville, Georgia, 30501, United States of America, so that is correct address.

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And envato can write this in the instructions. I have not deleted anything yet, I pressed the button to add another account, everything is the same there. Bank Account Country I did not find.

And this is… a real Milestone. This way of payouts opens almost all doors to receive payout. In my opinion this is the biggest news of this year → and it looks extremely underrated.

some of you are questioning these changes, this is a mistake because Envato allowing us to receive withdrawals via bank transfers (including Wise.com and 20 other similar wallets, each serving accounts at dozens of local banks around the world with no transfer fees!) has expanded our ability to receive funds by some 500x.

I tested this form of payment on other portals → your concerns are on the one hand justified because it is something new, but on the other hand they are not justified because I personally know that it works and gives a lot more possibilities and convenience.

EXAMPLE:

Register on wise.com (either on revolut, or on bunq, or on monese, or … on one of the other dozen wallets) → click to open a foreign currency account in one of the 50 available currencies. For example, select USA (USD account).

From now on, you immediately have a USD account with a bank based in New York, 26th Street - this account is US-based and operated in the US - is in the US. In the same way you can open an account in other banks.

I would like to add that Wise is from dozens of wallets that work the same way!

Okay - you oened USD Wise account, and you received Payment from Envato but now you want to transfer USD to your local currency (or any other currency) → no problem, you are opening new currency account in one second (!) and you transfer USD to selected currency without fees.

And you are complaining about these changes on Envato… for real? Just because it takes 10 minutes of effort and a few changes?

Come on :slight_smile: This is a huge step forward - I mean HUGE. Thank you.

Also I will test things up, and I am waiting for some answers from support and I will update you all on this. I waited for these changes so long and I will prove they are a big milestone for everyone.

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So, payoneer bank account address and routing number address is different. Which address is correct. I find it confusing. Can anyone help?

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@Rajibcou Routing numbers are always different from bank account numbers, as explained below:

" Every bank-related financial transaction requires two critical pieces of information to identify customers: the routing number and the account number, both of which are assigned when you open an account."

People are confused because they don’t know the basic things about worldwide banking methods - and this should be changed. This is my suggestion to Envato Team @BenLeong - consider writing a short guide to banking - explaining what the routing number is, why it is different from the bank number, what are wire transfers, ACH transfers etc.

Or - the other way is to add “?” symbol next to every field where this is explained what is routing nr, why it’s different from account nr. etc.

People will flood you with questions about such matters and such an article with explanations will be a must-have. :slight_smile:

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When i paste routing number on envato payout form. It show a address which is somewhat different address from payoneer address.
So, i should write payoneer bank address in form. Not routing number address. Okay? I am not actually aware of how worldwide banking system work. So, confusion arise…anyway thank you

And that’s the correct address to enter

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