Not to speculate, but I don’t believe there are many answers to the myriad of questions raised as of today. Which is why the rollout of this system is split into groups in the first place, with the January 16’s group acting as a “test run”.
I wholeheartedly agree that Envato needs to assess the situation prior to making irreversible changes which may affect people (who work here) negatively.
I for one do not know if payment via the new system will come through to my account at all. The fine print is pages long when it comes to “non default” countries.
Where the Author has selected Bank Country = USA on the screen they add their bank info…
USD - If you selected United States as the bank country, then add the “Local” USD/US bank account details. So we can send the payment as a local USD ACH within the US domestic payment system.
GBP - If you reside in the UK, and selected United Kingdom as your profile country, then add the “Local” GBP/UK bank account details. So we can send the payment as a local GBP (FPS) payment within the UK domestic FPS payment system.
EUR - If you reside in a Eurozone country, and selected a country that is in the Eurozone as your profile country, then add the “Local” EUR bank account details. So we can send the payment as a local EURO (SEPA) payment within the EURO SEPA payment system.
Actually I am not in the test group (however I would like to be in it) but let me emphasize important issue:
Are/will Envato authors who are EU residents able to make the payment to a US bank in USD via ACH? E.g. to Wise? Their conversion rates and fees are great and this may be very popular solution for EU authors.
Great! - Thank you - so actually … looks simple. In the Envato Payout Setup Panel - > if you select USA from the countries list → then you should use your USD “LOCAL” bank account details. The same for UK (then local GBP bank account details) and EU (then local EUR bank account details).
So the payment system is pretty flexible - we can choose between the countries (at least those major countries) and then we can get our payment as it’s local payment. Very good.
Why? → according to my knowledge Wise (and others like revolut) are offering us local bank accounts - which means you can open USD account using Wise and immediately you have local USD bank account with all bank details to receive local USD transfers or international transfers.
So you can live on the moon - but when you open USD account with Wise you immediately have like US based bank account with all the numbers needed.
Thanks for the answer and sorry for making not enough precised question. I know it is possible generally. I wanted to ask about EU residents who earn here on Envato. I was asking if the new Envato payment system allows it.
Yes. Wise, Revolut and many other similar payment providers will become available to you.
Given that it’s a USD transfer into essentially a virtual US bank/receiving account it attracts the lowest fee of $1 as it’s treated as a local transfer between US banks.
Thanks Team Envato. I recently received an email with the subject “We will continue to attempt your payouts via your existing payout method set in the Elements Contributors App until further notice.” I really hope that I will receive my payments.
Team Envato, please carefully consider the issue of payment methods for authors. This is one of the key points when choosing a site(market) for work. Disabling the old Payoneer method (by email) will simply force many authors to leave Envato.
Perhaps a direct survey of the authors could help in introducing the most convenient withdrawal methods. Buyers in the Envato market are mainly located in those countries that do not have problems with payments, unlike the authors. Due to the nature of the withdrawal methods and their limitations, it is difficult or sometimes impossible to receive payments, which can limit the emergence of new authors and the work of old ones.
I’m sure many people already asked but I also have to ask: the Payoneer option is already there. It works since the beginning of Elements! Please, just leave it as it is. If you MUST change, at least provide clear instructions. I’m from Brazil and I’m sure I’m not the only author from here, right? We need a step-by-step tutorial.
@KingDog@PeakStar
I’m not in the test group,
but i have question.
A US bank account created for me by payoneer, can i use the bank details? Or do I need to register with wise or other platforms?
*Payoneer is another way for Authors outside the United States to receive payouts in USD. Note that Payoneer does not appear as a separate option on the Payout Methods page. *
In order to set a bank transfer via Payoneer, you will need your Payoneer account information. Log into your Payoneer account:
Navigate to Get Paid >> Receiving Accounts*
Choose your USA account *
Under Account details you’ll find your routing number (ABA) and account number.*
Once you have these details, set up your Envato Author payout method:
Fill out your General Information, and select Next.*
Select “Bank Transfer” and select “United States of America” as the bank account country. This is because you are nominating the location of your Payoneer routing account which is in the USA. *
Enter the Routing Number (ABA) from your Payoneer account.*
Enter the Account Number from your Payoneer account.*
Finally, enter the name of the account holder from your Payoneer account."*
just checking