Summary: This article outlines how to set up your details and select your preferred payout method in our new payout system, which will be available to Elements authors from early 2023.

We’re phasing out our old payment system from early 2023 to make way for a new one that will allow Elements Authors more control over the way they get paid. When it’s your turn to move to the new system, we’ll contact you with everything you need to know.

In the meantime, you can check that your current payout details in our system are correct via this link: https://elements-contributors.envato.com/account/payout-method

• Why are we making these changes?
• How do I ensure I get paid?
• How do I set up a Bank Transfer?
• How can I receive payment through a Money Transfer provider (such as Payoneer)?
• How do I set up PayPal?
• FAQs

Why are we making these changes?

The changes to our payout experience provide Authors with access to a wider range of payment options, and can allow them to benefit from potentially lower fees, faster transfers and more flexibility. These changes are intended to benefit our Author community and to support our Authors in succeeding with their creative endeavors.

We have opted to include a wider range of payout options to best support our Authors, as not everyone’s preferred method will be the same. Both of the existing payment methods (PayPal and Payoneer) remain available.

The new system also provides access to Bank Transfer payments for Elements, and gives options for Local Currency payments. Bank transfer options have been one of the most common requests from the Elements Author community, and we’re excited to make them available.

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

How do I ensure I get paid?

To make sure we can process your payments in the new system, here’s what we need you to do:

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 ensure that your account holder name and address match the details on your payout account. If these details don't align, you will risk a returned payment.

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

How to 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 new system.

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

While you may have been set up with Payoneer previously, the new system differs in that there is no longer a direct integration with Payoneer. Instead, the provider facilitates a transfer into a receiving account for a particular currency. This change has enabled 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

Can I still 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 does this Payoneer payment set-up differ from the previous system?

In our previous system, there was a direct integration with Payoneer. In the past, you would have been directed to Payoneer to set up an account (either with an existing Payoneer account or by creating a new one). In our new system, you are required to provide your virtual Payoneer or Wise routing account details instead. The process is outlined above.

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 16th 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 10 business days, and a first time Payoneer payment may take up to two weeks.

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 14th 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. 

Method	Price Per Payment (USD)
Bank Transfer to Australia, Canada, USA	$1.00
International ACH bank transfer	$3.00
SWIFT Bank Wires	$9.00
USD to USD SWIFT Wires	$25.00
PayPal	No additional fees, PayPal fees apply

* 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.

 

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