Just as long as none of the previously availed methods could be scrapped when the new system is rolled out.
The payout system is a critical part of any platform. Many of us may not be able to adapt to abrupt future changes, due to international regulations / lack of availability per region. so i ask to consider that when making these changes.
@ashuras_sharif That is correct. We’ll be processing all the November payments through the older system, in the same way all previous Elements Earnings payments have been handled.
@GoForMotion Next month’s payment will be processed through the older system, so you don’t need to do anything more at this stage. If we need you to change the “General Information” address in future, we will let you know before the new system goes live.
When we begin paying Elements Earnings via the new system, both PayPal and Payoneer (via Bank Transfer) will still be available. The addition of the Bank Transfer method will open up a lot of new payout options, from local currency payments to USD transfers on the SWIFT network, and other bank transfer-based services like Wise.
@BenLeong Thank you!
OK - one more time via old system → BUT I can’t wait for this new system.
@BenLeong → one thing. The emails I received today (one automatic and one from Support) and in both I see → “No action is needed”
Actually I updated my payout details using new system, I added Payoneer bank details → when I see text like “no action is needed” is confusing, specially when someone already updated his payout using new system and payoneer bank details (like I did). I udpated my payout again today using old payout setup page - all I want to know If I am all good for next payout, is everything setup correctly.
Hey @PeakStar - I have replied to your support ticket.
Thank you Will for replying to the hundreds of tickets that opened during this time.
True thank you.
@Benleong Please tell me, if I now add my details to the new payment system, can I receive a payment in November using the new payment system?
I believe the new system deployment was delayed until all reported issues are resolved (early 2023).
November payout will be processed through the old system.
That is correct.
All November payments will be processed via the older system.
If we are ready to start processing some Elements payments via the new system before the full launch (now planned for early next year), we’ll be in contact - but it definitely won’t be used for any November payment.
I am first to be your test subject. I can test this anytime because I know this kind of system works. Just let me know
Thanks for the update
Please do not force us to get the payment converted to local currency so keep the option to get the swift payment to our country (non-US) USD account
It will be a real hassle for us (People living in countries with changing rates like Egypt, Turkey and Lebanon) being forced to get the funds pre-converted to the local currency
The current direct swift transfer is the most appropriate method for us right now having our funds in USD without the use of one another service (extra costs) which protect us from official rates (which are much lower than the real value)
usually, countries struggling with economic crisis has two rates
I hope the point is clear
@ValvePress Thanks for your feedback - I understand your concern, and have raised all of these points with the teams managing the rollout of our new payment system. Receiving payments in USD should remain an option for everyone - access to Local Currency payments will be a new addition, and these may be a better option for many authors.
As the current rollout focuses on Elements, both of the current options should still be available:
PayPal is unchanged from our existing Elements payment methods.
Payoneer USD payments will still be available, treated as a Bank Transfer to Payoneer’s USA receiving account.
For other direct transfer methods, we’re aiming to provide you with extra options where possible. The relative merits of these will depend on the country your bank is located in, and the currency (local or USD) that your account is set to.
Bank transfer in local currency: This involves our payment partner handling the conversion directly, and then sending the payment to your bank. These are sent to your bank using local transfer routes (International ACH) wherever these are available: those are much faster than SWIFT, and the transfer fees are lower. Local currency payments can also avoid “landing” fees (incurred when foreign currency arrives in a local-currency account), and your bank doesn’t perform any conversion as the money is sent in your local currency.
Bank transfer in USD: These generally need to be sent via the SWIFT network, which many authors are already familiar with from Market (where it is currently the only Bank Transfer available).
We’ll be adding some more detailed information about the Local Currency option to our Help Centre article next week - I’ll update this thread once the new article goes live.
@PeakStar Thanks! You are at the top of my list, when the time comes to pilot the new system I’ll have more information about this in a couple of weeks.
Thanks for update
Anybody already got the payment via bank account
Elements earnings still on the 16th of each month? It’s on my account. Last time Envato told me to add a bank account by mail. Winnings here? Will it be deposited or will it still be in my Payoneer account as before? It will be deposited. How much is my total earnings in the new panel? I can’t see how much money will be deposited into my account. For example, there was no deposit last month. Can you help me?
If you mean the changes about the new payout system, Envato is not doing this yet. They will let us know when the new payout system is definitive, maybe early 2023. The usual Payoneer system is still the way you will receive your payout.
You have a lot of info about this in all the previous posts here, mostly @BenLeong posts and updates
@AhsanjayaCorp @BeycanPress We have not started to send any payments via the new system yet.
All Elements earnings (paid on the 16th of each month) are still being sent via the older system, using the payment details you can check at Envato Elements
@GoForMotion is correct - we will notify you before we start sending payments through the new system.
I hope December payout will go via new system. I really do