Setting Your Elements Payout Method

Summary: This article outlines everything you need to know about our payout system, including how to set up your payout profile and choose the payout option that best suits your needs.

What are the benefits of our payout system? 

Our payout experience provides Authors with access to a wide range of payment options, flexibility, smooth transfers and potentially low fees. Our goal is to support our Author community with a positive payout experience to help them succeed with their creative endeavors.

We have opted to include a wide range of payout options to best support our Authors, as not everyone’s preferred method will be the same. The system provides all the common payout methods such as PayPal and bank transfers, as well as additional options for Local Currency payments.

We also wanted to simplify the payout process and give our Authors the ability to self-serve when making changes to their account details. For example, Authors can add or update a new Payoneer account in the same way as other payout methods, reducing the need to contact Author Support.

In summary, our payout system offers a range of benefits to our Authors including:

• An option to receive local currency at a low fee
• More control over the way they're paid
• Additional payout options
• Faster transfers
• Streamlined payout setup and onboarding

Please note: If you've already set up a payout profile for Market, you are not required to set up a separate profile for Elements.

How do I ensure I get paid?

To make sure we can process your payments you will need to set up your payout details before the 8th of the month. Otherwise your payment will be processed the following month.

To set up your details, follow these steps:

1. Access your payout method via https://author.envato.com/profile/payment, or select ‘Payout Method’ when logged in.
2. Fill out your General Information. Start by filling out your personal or business details. You will need to enter up-to-date and complete information here. The payment system is not integrated to your Envato profile so do not assume that your tax form information will be auto-filled. Once you have filled out your general information, you will be directed to select a Payout Method. Note: do not enter a bank branch address under General Information.
3. Set your Payout method–either Bank Transfer or PayPal. If you want to select a virtual provider like Payoneer, Wise or Revolut, you need to select the Bank Transfer option. 
   1. Bank Transfer (which may include, depending on your location and bank: IACH, SWIFT bank wires, USD to USD SWIFT wires or a virtual provider).
   2. PayPal

Make sure that your account holder name and address match the details on your payout account, as well as on your Envato account. Payments to another person are not allowed. If these details don't align, we may not be able to send your payout.

Please note: if your residential address is located in Russia, Belarus, Afghanistan, Sudan, or Libya, we will not be able to pay you. 

How do I select and set up a bank transfer?

Envato now offers bank transfers into 137 currencies, 83 of which are transferred via local routes called International Automated Clearing Houses (IACHs). These are cross-border transfer services that enable electronic transfer payments using your local currency. This means faster payouts and fewer fees.

If your bank account is in your country’s local currency, you will receive a same-currency transfer. This means that foreign exchange charges will not be applied by your bank, and you can better predict the final amount you will receive. 

Landing times for local currency payments are typically within 1-2 business days, as opposed to 5 business days with the SWIFT network.

Please note: You must ensure you are entering the country of your bank account.

Selecting to be paid via Money Transfer (such as Payoneer)

Receiving your money through a Money Transfer provider, such as Wise and Payoneer, is one of the many ways you can be paid in our system.

A Money Transfer provider is a way for Authors to receive payouts in the United States dollar (USD) or in euro (EUR). 

Our payout provider facilitates a transfer into a receiving account for a particular currency which enables us to support many other payment methods as well as support other money transfer providers (in addition to Payoneer).

How do I ensure I get paid via MTP?

In order to set up a transfer via Payoneer or any other US transfer provider, you will need to follow the below process. Please note, you will be required to provide your virtual routing account information to receive your funds. 

Log into your Payoneer account:

1. Navigate to Get Paid >> Receiving Accounts
2. Choose your USA account 
3. 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:

1. Log into your Envato Author account and access your payout method via https://author.envato.com/profile/payment.
2. Fill out your General Information, and select Next.
3. 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.
4. Enter the Routing Number (ABA) from your Payoneer account.
5. Enter the Account Number from your Payoneer account.
6. Finally, enter the name of the account holder from your Payoneer account.

How to select PayPal

If you would prefer to be paid via PayPal, select PayPal on the 'Select Payment Method' page and enter the email address of a valid PayPal account.

Please note that all PayPal payments are sent in USD.

If you need to change your details and delete a PayPal account, there is a ‘delete’ option on the right hand side.

You can find out more about PayPal's consumer fees for receiving money internationally or domestically here. 

Please note: PayPal does not currently operate in Russia, Belarus, Ukraine and a number of other jurisdictions.

Please contact PayPal if you are unsure about whether payouts to your country are supported.

Frequently Asked Questions

What if I have already done this for Market?

If you've already set up a payout profile for Market, you are not required to set up a separate profile for Elements. If you would like to check your payout details for Market, head to:  https://themeforest.net/accounts/payouts.  

Can you combine my Elements and Market earnings into one monthly payment?

No. As your Market and Elements earnings are separate payments from different entities, and paid on different days, we cannot combine these payments. You will continue to receive one payment from Elements and another payment from Market. 

Can I be paid in USD?

Yes.

If you have selected PayPal, your payments will automatically be processed in USD. 

If you would prefer a bank transfer, but are not in the USA and still want to receive USD, you will need to use a Money Transfer Provider that offers a virtual US routing account, such as Payoneer or Wise. See above for instructions on using Payoneer.

How do I select Payoneer as a payout method?

Payoneer does not appear as a separate option on the Payout Methods page, however, it is listed under the Bank Transfer option.

In order to set a bank transfer via Payoneer, you will need your Payoneer account information. Then follow the steps as outlined in the section: How do I ensure I get paid via MTP?

How do Local Currency payments differ in costs from PayPal or Payoneer?

Local currency conversion is done by our payment provider:

• before your payments are sent
• at a fixed rate of 1.9% above the live wholesale rate
• in your country’s local currency

This also protects you against landing fees as payments sent via local (IACH) routes do not incur these fees. Note that landing fees may still appear for SWIFT transfers, where any receiving fees are applied by your bank and are outside our control.

In comparison, MTP withdrawals in a different currency (e.g. USD) may be subject to conversion fees from both your MTP and your bank. Landing fees are also more likely to happen. We encourage our Authors to evaluate PayPal, Payoneer and bank fees so you can choose the option that best suits your needs.

When will I receive my Elements payout?

You’ll still be paid on the 15th of each month if you have earned more than the minimum payment threshold of $50. This will apply to both your regular Elements earnings as well as any incentives earnings you may be entitled to. 

You should receive payment within 1-3 business days of our payout date.

However, delivery times may vary depending on the method of payment and your location. First time payments (via our new payment system) may also take longer due to compliance requirements. So, for example, a first time bank transfer to certain countries can take up to 7 business days, and a first time Payoneer payment may take up to 10 days.

See the Elements Earnings FAQs for more details on payment dates and minimum payment amounts. 

Why have I been asked to provide documentation?

Before you receive your first payout, you may be required to provide documentation such as proof of income for compliance reasons. If this happens, your earnings statement may be sufficient proof.

If you are based in Bangladesh, and have chosen a direct Bank Transfer, you may be required to fill out a Form C and provide this to your bank. This ensures that your bank is aware that you are receiving an international payment. 

What if I need to change my payout information or method?

If you need to make changes to your Elements payout information, or your payout method, please do so by the 8th of the month. This will ensure that the updates are reflected in your next payout. Changes made after this time may not go into effect until the following month’s payment cycle.

How much do these new payout methods cost?

We are pleased to be able to provide the following payment options at low cost.

Please note: not all options are available to all authors and may depend on your location and financial institution. 

* For a US money transfer, the cost per payment will depend on the payment provider. For example, Payoneer charges approximately 0 -1% of the deposited amount (it depends on the country in which you hold your bank account). Refer to your Money Transfer Provider for details.

Is there a minimum payout amount?

There is a $50 minimum payout amount (for each of the payout methods). If you don't reach the $50 minimum within the month, we will withhold your monies until you reach the minimum.

What happens if I don’t get my payout?

Check that all your details are correct (and that you have listed valid account details). We ask that you take into account the estimated delivery time as outlined above.

Once you’ve confirmed your details and checked the delivery estimate, you can raise a support ticket.

Can I get an FIRC Document? 

A Foreign Inward Remittance Certificate (FIRC) is a document that acts as proof of a foreign transfer to India. Please note that we are not able to provide FIRC Documents to authors. 

If you require a certificate, please reach out to your beneficiary (receiving) bank. While setting up your payment profile and choosing your Currency, please consider whether the availability of FIRC documents impacts your setup. Your bank may not be able to provide FIRC documents for all currency transfers.

If you have followed the above steps and still have questions, please reach out to our Author Support team.