We think the old payout system was way better than the current one. It’s taking way much time to receive the payment. Also we have to submit the C form each month.
What’s your experience?
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For 90-95% of the authors, there was no problems but some were having some issues but I believe most of them were solved in the previous months.
C form is, I think, related to Payoneer/your country, if you’re using other payment methods, it may not be required.
Can you please tell, how do you know that 90-90% is getting a smooth payment service? Did you do any survey?
We are talking about the local bank payment. Envato is using an intermediary bank to transfer money. The problem is occurring in the intermediary bank. They are refusing to release the funds unless some documents have to be sent to them each month.
And the process is taking way much time to complete. Like last month we received the payment after 41 days. This month, after 22 days we still haven’t received the payment.
Previously it took 2/3 days to complete the payment process.
You can check the forum about the authors who had issue with the payment ( in the last 3-4 months )
As stated, the regulation would be related to your own country.
My point is previously there was no issue in the payment process. Issues is occurring in the new payout system. And the the waiting time to receive the payment has been increased significantly.
The bank regulation in every country is changing and if you’re providing the documents to your bank to get the money, it’s not about the Envato payment system…
If the money is sent on 15th and arrived the next 3-4 working days, if it takes longer, contact your bank instead or change your bank
There is no problem with bank we guess. Because the problem is occurring after changing of the payout system from envato. We were receiving the payment on time in the previous payout system.
Hopefully you will get my point.
If you receive the email about the payment on time “PS: We sent your money” from Envato, it’s your bank.
You are not getting my point.
How come we received the money on time in the previous payout system if the bank has any issues.
The problem is occurring in the new payout system only.
You are not getting my point.
Anyway, thanks for your reply.
I got your point. You’re claiming that the payment delay is due to new system 
Offcourse. Because we were receiving the payment in the current bank account previously without any problem. After migrating to the new payment system the payment is delayed.
We haven’t received the payment of the last month yet. After contacting our bank they are telling that they haven’t received any remittance in the account. The we contacted to the intermediary bank(we found out that envato is using Commercial bank of Ceylon as intermediary bank in a Facebook group last month). And found out that the payment is stuck in their account. We didn’t choose that bank, but envato did. And they are telling that they won’t release the funds unless our bank send them some documents. But our bank didn’t receive anything from the intermediary bank. Also it takes at least two days to receive any response from envato support.
We did put the our bank details in the payout form. And the money should have reached in the bank account instead of some third party bank which we didn’t even know existed.
Please suggest us what should we do? We have contacted our bank several times and they didn’t receive anything from the intermediary bank. And we tried contacting the intermediary bank several times, they are behaving unprofessionally.
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You will need to solve the problem with Envato support, I don’t think anyone here could help you ( only suggestions ) but request MT103 document, it will speed-up the process.
You are absolutely right. Commercial bank of Ceylon will send a hard copy letter to your bank where they will inform about your account remittance fund and will ask the C-Form (only for Bangladesh) from you. Then your bank will ask you the C-Form that will send to the Commercial bank of Ceylon. and the letter, C-form, etc sending and receiving process will kill time (days).
New payout systems is sending money in Local currency (in your case BDT) that’s why you are facing some issue/steps to get the money in your own account. Where previous systems were sending money in USD $ and directly to your own Bank.
Yes, Old system was way better than the current one. We did get the payment smoothly in the old system.
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The new payout system is better. Now I pay a commission of $5 as opposed to $30 previously. It is also much better esthetically (very pleasing) with more accurate information of how much is sent, how much will be received and the date the amount will be deposited. This information is sent by email when payout is conducted.
Hi @WEBZED,
Don’t worry about the new payment system. you can use this payment get way like previous system.
Follow this guide it is very easy to use that.
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:
- Log into your Envato Author account and access your payout method via Sign In | Envato Account.
- 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.
Thanks
Our experience is very sad. We still haven’t received payments from the Elements in 3 months. Tell me, in case of relocation to another country for permanent residence, do you need to change the w-8 form on Market??
Compare the tax amount of the current and new country details with US, you could use whichever is the best option for you, otherwise, you can leave it as it is, it shouldn’t be a problem as well as you may still have the permanent residence for both of the countries.
Are you sure? And if the country on the sanctions list is listed on Form w-8? Can there be problems with compliance verification?
If you have residence for two countries, you can choose which one you’d like to use.