@BenLeong Any updates about PayPal?
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Still waiting for more information on that one - these are the PayPal developer requirements that I mentioned earlier, though:
https://developer.paypal.com/docs/payouts/standard/reference/country-feature/#link-restrictions
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Nothing about USD?
Thank you Ben. Ideally you should implement a workflow which supports the countries PayPal works with. PayPal has fully supported Egypt since 2016. This includes sending, receiving, and withdrawing funds. I have been using PayPal since then, and still do.
The last payment I received through PayPal was 4 days ago. Every other platform I work with still sends payments through PayPal. I have also been using PayPal with the Envato market / Elements up until this month when the payout system was changed for market.
If itās a matter of compatibility with a certain payout workflow, then please work with your payment provider to develop an alternative to ensure authors are not cut off unnecessarily. Without a fully functional payout system, what are we doing here?
Same here, we have USD account in our bank and we want to get transfer in USD as we used to for last 10 years, not our local currency as this is just huge potential loss for us.
@BenLeong Why you canāt for once change something for good? I canāt remember a single good change in Envato.
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I am in Belarus, which is not in a list of supported countries in your new payout provider. Will this mean that I am just squeezed out now?! So far things are working well for me through the Payoneer and USD.
Hi. Where does the money earned on the elements, but which are no longer paid to belarussian accounts go?
@BenLeong
I have the same issue, and Iām located in Bosnia & Herzegovina. I use paypal for years on envato and other stock platforms and I received my payment from envato last month via paypal, I donāt know what is the problem right now and what should I do?
Paypal is supported in Bosnia & Herzegovina as you can see right here:
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@BenLeong Hi, So will there be any official response or at least an official topic on forum about that? Itās been 2 weeks since you responded in this thread. This is important issue for many authors which are probably not aware yet of this change that will affect them.
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@BenLeong Same here, weāre still waiting since 2 weeks for an update concerning re-enabling transfers in USD.
Any update?
Hi @purethemes and @pixfort. Sorry for the delay - Iāve been discussing this with several authors via DM, and thought that Iād already posted a public update earlier this week.
Currently, the best way to receive USD payments in the new system is by using the Bank Transfer method, and any Money Transfer Provider account that operates in USD. The service that weāve seen the most authors recommending so far is Wise (more details on using a Wise USD receiving account here), as they charge a flat fee on transfers thatās much lower than the $25 SWIFT fees. If you havenāt already looked into that service, I recommend checking whether itās a cost-efficient option for you - they list their fees here: Wise Fees & Pricing: Only Pay for What You Use
Iām still looking into whether we can enable SWIFT USD transfers for specific countries, but you may find that other services are more competitive.
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@AndUp Weāre restricted by the list of countries supported by PayPalās developer resources, which you can find here: PayPal country and feature support.
Weāve asked PayPal for more information on why some countries (e.g. Bosnia & Herzegovina, Egypt, Algeria) are not supported in those guidelines, when customers can still use PayPal in their locations. They havenāt provided any more information on this yet.
@Coffeecream @AudioZen If we are unable to pay to your location, your Market or Elements earnings will remain in your Envato account until we are able to transfer those funds. This is currently the case for many authors based in Russia. However, weāve just finalised the next batch of authors being moved to the new system in September, and neither of your accounts are in that group - so the earliest that you would be moved is in October.
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Thanks!
October? However, I have already stopped receiving payments from Elements, but still come from the main market. And I received an email saying that my last payment has already been made in June.
āAs of July 16, we will no longer have the ability to pay any Authors residing in Russia or Belarus. If you were previously getting paid in our old system, June 16 will be your last payment.ā
Thanks, I hope the SWIFT will be still possible as itās the best and most reliable and safe option for us. For many reasons we donāt want to use yet another service like Wise etc to handle our money. I understand your need to outsource that part of business but just donāt make it worse for us. This was good system weāve been using for all those years, and all other options except SWIFT USD will make us lose money or make it more complicated. Thanks.
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Totally agree @purethemes
@BenLeong Canāt believe you guys implemented this without any due diligence on FX rates. Every author is going to lose thousands of dollars per year.
For AED, I am told a currency conversion rate right now is: 3.60216. This is beyond absurd when the worst rate available by any bank for this currency is 3.65 (my bank does 3.67). Unbelievable.
Basically, I will be charged a fee of $200+ in total. This is robbery in FX conversion. You really should terminate the company you outsourced to.
EDIT: Seems like Wise.com is the only option now. Not a good option that, but the only one we have got.
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Is there any updates for Paypal? Is this problem going to be permanent?
So our account was just moved to new system, and we had only 2 choices, Bank Transfer and PayPal
PayPal is no option for us.
With Bank transfer we have 2 options ā PLN or EUR. So again, Iāll keep pestering you @BenLeong about it, why there canāt be USD option? EUR is not official currency in our country, just PLN is, so why I can transfer the money in EUR (which obviously doesnāt make sense, as it would convert USD to EUR, and then Iād need to convert EUR to PLN) but canāt send USD if I earn in USD and I have in my Polish bank official USD account that Iāve been using for past 10 years for Envato payouts?
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Bank transfer option is a robbery because of FX conversion rate. Itās unbeliavable that you said new payout system will be somehow cheaper than previous method while itās completely opposite considering FX rate of provider you outsourced payouts to.
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Just received the email today. Holy molyā¦ it said: āMore control over the way youāre paidā, when in reality it completely strips off the free control you had before.
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Youāre forcefully taking an FX exchange fee on all European users, by only providing āEURā or ālocal currencyā, when weāre earning in USD. So we canāt transfer in USD on any of our banks, regardless of whether theyāre local, or EU based.
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Iām using an European bank for my Business, and the account is in USD and EUR, are in a different country (EU member). With the new system, I canāt add my bankās details anymore, as youāre forcing me to provide a local bank instead.
@BenLeong - Guys, please, allow us to transfer USD funds to European Banks. I donāt care about a $25 SWIFT transfer fee, just let me us the bank that Iāve already started my business with.
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I tried again and it showed USD option! Thank you @BenLeong if thatās your work! I really appreciate it. I was able to set our USD account for payout, hope wonāt run into any problems with that.
@lunatio @QuanticaLabs @LCweb check your Sign In | Envato Account
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