Difference between revisions of "Payment method"

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* Payout limit is the amount of earnings you need to collect in order to get paid on the payout date of that period (you can read more about payout dates under [https://wiki.soulcams.com/index.php?title=Payment_method#PAYOUT_DATES PAYOUT DATES] section.
 
* Payout limit is the amount of earnings you need to collect in order to get paid on the payout date of that period (you can read more about payout dates under [https://wiki.soulcams.com/index.php?title=Payment_method#PAYOUT_DATES PAYOUT DATES] section.
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* The current payout limit is '''$50'''
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* Important! Your first payout is sent when you earn over $100 in total, except for wire transfers, where it is $300.
 +
* Please see the payout limits [https://wiki.soulcams.com/index.php?title=Payment_method#PAYOUT_METHODS_ON_SOULCAMS.COM here.]
  
 
==PAYOUT DATES==
 
==PAYOUT DATES==
  
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If your earning reaches the minimum payout limit in any given period, your payment will be sent '''within 8 working days after the period end.'''
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If your earning reaches the minimum payout limit in any given period, your payment will be sent '''within 15 working days after the period end.'''
 +
Note: weekends, public holidays are not working days!
  
 
==IF YOU EARN LESS THEN THE MINIMUM PAYOUT LIMIT==
 
==IF YOU EARN LESS THEN THE MINIMUM PAYOUT LIMIT==
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==PAYMENT METHOD AND / OR PAYOUT LIMIT CHANGE==
 
==PAYMENT METHOD AND / OR PAYOUT LIMIT CHANGE==
 +
 +
Please note that you '''cannot change payout-related information (payment method, minimum payout limit, payout frequency) between 1-10 and 16-26 of each month as these are the payout periods on SoulCams''' So the dates when you can change these settings are: 11-15 of each month and 27-till the end of the month.
  
 
<ins>'''If you would like to change your payment settings then do the followings'''</ins>:<br>
 
<ins>'''If you would like to change your payment settings then do the followings'''</ins>:<br>
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1. log into your studio or solo performer account.<br>  
 
1. log into your studio or solo performer account.<br>  
 
2. click on the menu: '''Settings / Account and Payment settings'''<br>  
 
2. click on the menu: '''Settings / Account and Payment settings'''<br>  
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3. scroll down the page to the ''''Payout information'''' section<br>
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3. scroll down the page to the ''''Payout information'''' section and do the necessary changes and hit 'save' when you are finished<br>
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4. to link your already existing FirstChoice Pay account or to order a new one click on the sentence: ''''Click here to link your existing card to SoulCams or request a new card!'''' and you will be directed to FirstChoice Pay's page.
 
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<br>
 
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<br>
 
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Note: if you already linked a FirstChoicePay account to us but you would like to change it to an other one, always contact us first as we need to reset your payment method before you add your new one.
 
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==SENDER OF PAYMENT==
 
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Once you could link your FirstChoice Pay account to your SoulCams account, you will get an email from FirstChoice Pay with subject: 'You Successfully Added '''Fluffy Stone Media''' as a New Funding Source!', furhermore you will see ''''Fluffy Stone Media'''' in your FirstChoice Pay account at 'Funding Source' menu.
 
  
 
==CURRENCY==
 
==CURRENCY==
  
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Please note that SoulCams.com sends payouts '''in US dollars,''' therefore if you choose wire transfer as your payout method we recommend that you open a bank account in USD. This way you can avoid additional costs and unfavorable exchange rates.
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Please note that SoulCams.com sends payouts '''in EUR,''' by default (except CosmoPayment where it is USD), however you can select and ask for USD payments too.
 
----
 
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=PAYOUT METHODS ON SOULCAMS.COM=
 
=PAYOUT METHODS ON SOULCAMS.COM=
  
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{| class="wikitable"
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|- style="font-style:italic; text-align:center; vertical-align:middle;"
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! style="text-align:left;"|payment method
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!|min. payout limit
 +
!|currency
 +
!|Transaction fee
 +
!|more info
 +
!|website
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|-
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| style="vertical-align:middle; font-weight:bold;"|Wire (bank) transfer
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| style="text-align:center; vertical-align:middle;"|$300
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| style="vertical-align:middle;"|EUR or USD
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| style="vertical-align:middle;"|10 EUR / 10 USD
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| style="text-align:center; text-decoration:underline; color:#0563C1;"|[https://wiki.soulcams.com/index.php?title=Payment_method#WIRE_TRANSFER read more]
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| style="vertical-align:middle;"| 
 +
 +
|-
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| style="vertical-align:middle; font-weight:bold;"|Paxum
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| style="text-align:center; vertical-align:middle;"|$100
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| style="vertical-align:middle;"|EUR or USD
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| style="vertical-align:middle;"|2 USD
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| style="text-align:center; text-decoration:underline; color:#0563C1;"|[https://wiki.soulcams.com/index.php?title=Payment_method#PAXUM read more]
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| style="text-decoration:underline; color:#0563C1;"|https://eu.paxum.com/
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|-
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| style="vertical-align:middle; font-weight:bold;"|CosmoPayment
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| style="text-align:center; vertical-align:middle;"|$100
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| style="vertical-align:middle;"|USD
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| style="vertical-align:middle;"|4 USD
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| style="text-align:center; text-decoration:underline; color:#0563C1;"|[https://wiki.soulcams.com/index.php?title=Payment_method#COSMOPAYMENT read more]
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| style="text-decoration:underline; color:#0563C1;"|https://www.cosmopayment.com/
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|-
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| style="vertical-align:middle; font-weight:bold;"|PayPal
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| style="text-align:center; vertical-align:middle;"|$100
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| style="vertical-align:middle;"|EUR
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| style="vertical-align:middle;"|depends on the amount sent
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| style="text-align:center; text-decoration:underline; color:#0563C1;"|[https://wiki.soulcams.com/index.php?title=Payment_method#PAYPAL read more]
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| style="text-decoration:underline; color:#0563C1;"|https://www.paypal.com/
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|-
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|}
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 +
 +
 +
==WIRE TRANSFER==
 +
[[File:Wire-transfer.jpg|230px]]
 +
* As the account holder, you are responsible for paying the banking fees. The wire '''transfer has a fix fee of 10 EUR (regardless of the amount)''' that the bank will deduct from the final amount you receive. Tip: set a higher minimum payout limit than 100 to save on transfer fees.
 +
* We send wire transfers in '''EUR and USD currencies by default.''' You have to make sure that your bank account is able to receive the currency you choose when adding the wire transfer details in your settings. If you need another currency (CAD, GBP, HUF, etc), it is also possible, but make sure to contact us about it.
 +
* The '''minimum payout limit''' for wire transfer is: '''$300'''.
 +
* Wire transfers usually '''take 3-5 business days depending on your location'''.
 +
 +
Conditions for receiving wire (bank) transfers from us:
 +
* You must have a valid (not expired), government-issued photo ID in latin letters uploaded ('Personal' tab)
 +
* A valid billing address must be added ('Billing' tab)
 +
* If you are outside the EU (European Union), UK and USA, you need to print and sign the SoulCams Model/Studio agreement and send it back to us. We will send you the relevant document for signing when you have a payout due.
 +
 +
To send your wire transfer payment, please make sure to fill out the following bank account details:
 +
* '''Payee name''': the person to whom money is being paid. This is the 'account holder' or 'beneficiary'. Please enter only unaccented alphabetical letters here (A–Z or a–z.). The 'Payeee name' must be exactly the same as the owner of the bank account. Add the name of the Account Holder right, do not shorten the name in any way (e.g. If the Account holder is: Kate Smith Birmingham than add this name exactly and DO NOT shorten it like Kate S. Birmingham or K. Smith Birmingham, ...)
 +
 +
* '''Account number''': this row of numbers identifies your individual account.
 +
 +
* '''IBAN''': = '''I'''nternational '''B'''ank Account '''N'''umber. Almost all banks in Europe provide an IBAN identifier for their accounts as well as nationally recognized identifiers. Contained within the IBAN is information about the receiving country, bank, branch and account number. The IBAN is up to 34 characters long and includes numbers and letters. To be sure that you add your IBAN properly, you can check it first on this site: [https://www.ibancalculator.com/iban_validieren.html Check IBAN / show more information]. The following page also might be useful if you are not sure about your IBAN format: [https://en.wikipedia.org/wiki/International_Bank_Account_Number#IBAN_formats_by_country IBAN formats by country]
 +
 +
* '''SWIFT/BIC code''': = '''S'''ociety for '''W'''orldwide '''I'''nterbank '''F'''inancial '''T'''elecommunication). These codes are used when transferring money between banks, particularly for international wire transfers between banks. The SWIFT code is 8 or 11 characters and consits of numbers and letters (to check what type of characters a SWIFT code contains and to read more about SWIFT code click here). The SWIFT code can sometimes be found on account statements, if not then please call your bank and ask the SWIFT code from them (sometimes SWIFT code is called as BIC code = Bank Identifier Code too. The following page might be useful to find out your bank's SWIFT/BIC code if you are not sure about that: [https://transferwise.com/gb/swift-codes/banks online BIC/SWIFT code finder]
 +
 +
* '''ABA/Routing number''': (ABA = American Banking Association) Those who have their bank account outside the USA, the ABA / Routing number is not needed (in this case leave this field empty). The ABA routing number is a 9–digit number assigned to financial institutions by The American Bankers Association (ABA) to identify the financial institution upon which a payment was drawn.
  
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==FIRSTCHOICE PAY==
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===Recommended wire (bank) transfer solutions===
 +
Some of you may have worked as a webcam model for longer. You surely remember the shocking news when one of the biggest payment platforms ePassport went down in September 2010. Many companies lost a lot of money and even more models and affiliates were left with no option to withdraw or spend their money.
 +
 
 +
Fast forward to May 2018, FirstChoicePay (and the Belize based Choice Bank) went down, again leaving many businesses and people without money. These events show, that if you want your money to be save (and why wouldn’t you?) you should keep it with an established financial institute. Storing your money on a virtual wallet, provided by a dubious company, registered on a Caribic island, with no bank guarantee isn’t exactly safe. It’s more like gambling or Russian-roulette.
 +
 
 +
What you need is a bank account, with a trustworthy Bank. You might say, that banks can also go bankrupt and you might be right. But the chance is much lower, that an established and prestigious bank would go down from one day to another. We, as a webcam platform must make sure, that we receive our money in time and can safely and legally move that money. You, as a webcam model must also make sure, that you can receive your money and that money is safely kept.
 +
 
 +
This is why we decided to offer a few tips on how to get paid safely and which companies we trust, when it comes to receiving payments.
 +
 
 +
 
 +
 
 +
----
 +
====The good old bank (bank account)====
 +
Having a bank account at a reputable, local bank is what we consider the safest. You can receive money in different currencies (at least in USD and EUR if you want), you can have a debit or credit card and you do not have to worry about losing your hard-earned money. Look around in your country, try to find the best deal. Remember, cheap is not always the best!
  
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FirstChoicePay was a way to receive payouts on SoulCams.com. The service is now shut down meaning that we cannot send payouts to your FirstChoicePay account any more. The company says, "FirstChoice Pay is not receiving or processing any further payments, effective immediately." As a result, we ask you to please change your payment method with us so that we can process your future payouts. We offer several alternatives (please see them below).
 
  
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==EPAYMENTS.COM==
 
  
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[[File:Epayments-logo2.jpg]]
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----
 +
====(Transfer)Wise====
 +
Wise is a London-based money transfer service. After registration, you get your own bank account number (IBAN) and can receive money in all major currencies like EUR, USD, GBP, CAD and many more. You can also get your own debit card that you can use at ATMs all over the world or pay directly in shops. They have a very transparent pricing scheme so you will not get and surprises in form of hidden costs. Wise is on the market since 2011 and are authorised by the FCA. This means, that they are controlled regularly by the authorities.
  
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===More about ePayments===
+
Wise account fees:
 +
* Creating account: 0 EUR
 +
* Wise debit card: 6 EUR
  
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* ePayments is a professionally created '''payment platform''' that allows for fast, and secure payments while remaining '''cost-effective'''. It also functions as an '''electronic wallet''', allowing you to make payments '''quickly and safely, but with minimal fees'''. In addition, it features a '''mobile app''' from which your e-Wallet and cards from anywhere in the world can be managed using only your mobile phone.
+
Sign up for Wise here: https://wise.com/invite/ie/ferencm170
  
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* ePayments is '''registered in the United Kingdom''' and operates according to English law. In 2014 ePayments received an '''FCA licence (UK)''' which confirmed the reliability of epayments service and provided the legal right to issue electronic money. ePayments guarantees the safety of financial operations and the protection of confidential information.
 
  
−
* Using ePayments makes it simple and easy to work with payments. The e-Wallet enables you to make payments and calculations, while the '''ePayments Prepaid MasterCard®''' allows you to pay for goods and services in stores as well as withdraw funds from ATMs.
 
  
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----
 +
====Revolut====
 +
Revolut is also a UK fintech company, founded in 2015 with the headquarters in London. Their solution allows you to receive and send money quickly and safely. Revolut comes with a mobile app and a debit card. Opening an account is easy and only takes a few minutes. The mobile app offers you many options to handle your money: send to family and friends, exchange between currencies, view your spendings and a lot more.
  
−
Note: ePayments stopped issuing new cards temporarily as of 11 April, 2018. ''Dear Customers! We are reviewing ePayments card issuing terms. As such, we are suspending issuance of all new cards starting today (11.04.2018) at 3pm GMT. We will notify you as soon as the review has been successfully completed. Please note that all existing cards are working as usual. Please accept our apologies for the inconvenience.''
+
Revolut account types and fees
 +
* Standard: 0 EUR / month
 +
* Premium: 7.99 EUR / month
 +
* Metal: 13.99 EUR / month
  
−
* '''homepage''' of ePayments: https://www.epayments.com/
+
Sign up for Revolut here: https://revolut.com/referral/?referral-code=ferencq5q6!AUG2-24-AR
−
* official '''Help Center''' of ePayments: https://help.epayments.com/hc/en-us
 
  
−
===How to receive your money via ePayments on SoulCams?===
 
  
−
* If you do not have an epayments account yet, you need to register one at https://www.epayments.com/ and provide us your '''e-wallet number'''.
 
−
* Find your individual e-Wallet number at the '''top-left corner of your ePayments account'''.
 
−
* You can give our e-Wallet number in your account at menu: '''Settings /Account/Payment settings''' (bottom of the page). '''Caution!''' '''Please pay special attention when putting your e-Wallet number. If you give a wrong account, your money will be lost if we send you a transfer.'''
 
  
−
===ePayments fees===
+
----
  
−
For the current e-Wallet and Mastercard fees, please check out ePayments' official site on the following links:
+
====N26====
 +
N26 is a fresh fintech company from Germany, offering a very intuitive mobile app to take control over your finances. You can order a debit card, that comes in 5 different colors and you can choose the one you like best. The account and card works with Apple Pay, so you can use it to pay directly from supported Apple phones. The paid accounts (You and Metal) come with basic travel insurances, up to 5 and 8 free withdrawals within the Euro zone and up to 10 sub-accounts.
  
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* [https://www.epayments.com/documents/ewallet/ewallet_fees_en.pdf ePayments e-Wallet fees]
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N26 account types and fees
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* [https://www.epayments.com/documents/card/epayments_card_fees_en.pdf ePayments cards fees]
+
* N26 Standard: 0 EUR / month
 +
* N26 You: 9.90 EUR / month
 +
* N26 Metal: 16.90 EUR / month
  
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===Payments and transfers===
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Sign up for N26 here: https://n26.com/r/aronk2606
  
−
* '''Between your accounts''': exchange currency and transfer funds between your e-Wallet and your ePayments card. More information: [https://help.epayments.com/hc/en-us/articles/115002832205-Transfer-to-your-ePayments-card Transfer to your ePayments card]
 
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* '''To another person''': instant payment to anybody by e-Wallet number, phone or email. More information: [https://help.epayments.com/hc/en-us/articles/115002765465-Payment-transaction-for-provided-services Payment transaction for provided services]
 
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* '''To bank card''': transfer funds to Visa/Mastercard/Maestro/MIR card account [https://help.epayments.com/hc/en-us/articles/115002826409-Transfer-to-bank-card Transfer to bank card]
 
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* '''To bank account''': transfer funds to a bank account. Time taken to credit funds - up to 5 working days. More information: [https://help.epayments.com/hc/en-us/articles/115002796789-Transfer-to-bank-account Transfer to bank account]
 
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* '''To cryptocurrency e-Wallet''': transfer funds from your e-Wallet to cryptocurrency wallet
 
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* '''To WebMoney e-Wallet''': transfer funds to WMZ, WME. More information: [https://help.epayments.com/hc/en-us/articles/360001468394-Transfers-from-e-Wallet-to-WebMoney Transfers from e-Wallet to WebMoney]
 
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* '''To Yandex.Money e-Wallet''': transfer funds to Yandex.Money wallets. More information: [https://help.epayments.com/hc/en-us/articles/115002857465-Transfer-to-Yandex-Money-wallet Transfer to Yandex.Money wallet]
 
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* '''To QIWI VISA Wallet''': transfer funds to Visa QIWI Wallets. More information: [https://help.epayments.com/hc/en-us/articles/115002860325-Transfer-to-Visa-QIWI-wallet Transfer to Visa QIWI wallet]
 
  
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===Receiving funds===
 
  
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'''TO E-WALLET:
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----
  
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* '''By bank details''': receive a payment from a bank account without any fees. More information: [https://help.epayments.com/hc/en-us/articles/115002681469-Accepting-payment-to-your-e-Wallet-by-bank-transfer Accepting payment to your e-Wallet by bank transfer]
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==PAXUM==
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* '''From bank card''': receive a payment from a VISA/Mastercard/Maestro bank card. More information: [https://help.epayments.com/hc/en-us/articles/115002702205-Accepting-payment-to-e-Wallet-by-bank-card Accepting payments to the e-Wallet by bank card]
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[[File:Paxum-logo.png|230px]]
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* '''From a cryptocurrency wallet''': receive a payment from cryptocurrency wallet
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===More about Paxum===
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* '''From a Yandex.Money e-Wallet''': receive a payment from a Yandex.Money e-Wallet. More information: [https://help.epayments.com/hc/en-us/articles/115000753654-Accepting-payment-from-Yandex-Money Accepting payment from Yandex.Money]
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The Paxum global e-wallet is a leading alternative payment service for the online entertainment industry.
 +
The award-winning payment company offers a cost-effective and secure service that allows users to easily send and receive money instantly all over the world with just an email address.
 +
By choosing this option, you will be paid on your Paxum virtual account from where you can easily transfer funds to your Paxum MasterCard® card or to your local bank as well as to external credit cards.
 +
===About Paxum MasterCard===
 +
Paxum Prepaid Card is accepted worldwide. You can make transactions online or go to a store and make signature based purchases just like you would do with any other regular credit card. You can also use your Paxum Prepaid Card to withdraw money from most ATMs around the world.
  
 +
Every verified Paxum client has the option to request their own Paxum Card after account verification is complete.
  
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'''TO THE EPAYMENTS CARD:'''
+
Please read more about Paxum MasterCard at Paxum's official FAQ page: https://www.paxum.com/us/faq/paxum-debit-card/
 +
* homepage: https://www.paxum.com/
 +
* official FAQ: https://www.paxum.com/payment/faq.php
  
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* '''From ePayments e-Wallet''': deposit funds instantly from your e-Wallet to ePayments prepaid Mastercard card. More information: [https://help.epayments.com/hc/en-us/articles/115003333125-Adding-funds Adding funds to your ePayments card]
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===Personal Account Fees===
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* '''From a Webmoney e-Wallet''': Receive a payment from a Webmoney e-Wallet. More information: [https://help.epayments.com/hc/en-us/articles/115003333125-Adding-funds Adding funds to your ePayments card]
+
Learn more about the personal account fees at Paxum's official site: https://www.paxum.com/fees/personal-account/
 +
===How to receive your money via Paxum on SoulCams?===
  
 +
* If you do not have a Paxum account yet, you need to register one at https://www.paxum.com/ and provide us your '''Paxum username which is your Paxum email address'''.
 +
* You can provide your Paxum email address in your account at menu: '''Settings/Account and Payment settings''' (bottom of the page).
  
 +
==COSMOPAYMENT==
 +
[[File:Cosmopayment logo.png|350px]]
 +
===More about CosmoPayment===
  
 +
* CosmoPay is an e-wallet debit card that money is deposited onto. You will need to create a CosmoPay account to receive your payout. If you do not have one yet, register an account on their site: https://www.cosmopayment.com/
 +
* You can study more about CosmoPayment on their FAQ page: https://www.cosmopayment.com/faq
  
−
===WIRE TRANSFER===
+
===About the CosmoPayment Prepaid Card===
−
[[File:Wire-transfer.jpg|230px]]<br />
 
−
<br />
 
  
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If you prefer to get paid through wire transfers instead of FirstChoicePay, we offer wire (bank) transfer as a payment option.
+
* Cosmo Payment will issue a reloadable card that you can use much like a debit card for purchases and to withdraw funds from ATM’s. While you await the arrival of your Cosmo Payment card (issued by Cosmo Payment), you will have access to a “virtual card” that you can use for online purchases (as funds are available).
−
Bank transfer costs may vary for every bank. As the account holder, you are responsible for paying the banking fees. Please consult your bank on these fees and charges. All transfers are sent from our business account in Germany.
 
  
−
Note: we are sending payments in USD. To avoid your bank making an extra deduction, we advise you to have a bank account in US dollars.
+
* A Prepaid Card provides you with access to all merchants and Cash Machines (ATM) that accept payment cards. With this card you do not have to apply for a bank account or pay interest like on a credit card. The Prepaid card is a card that carries a variable amount of money based on the amount loaded onto the card. Each time you use the card to buy something or withdraw cash at a Cash Machine (ATM) the purchase amount is deducted from the available balance.
  
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Wire transfers usually take 3-5 business days depending on your location.
+
===Your Cosmo Payment SAN number===
 +
The SAN number is the 9 or 10 digit number you received when you opened your COSMO Payment account. The SAN number can be found ont he back of the prepaid card or under the ’My account’ page of your CosmoPayment account.
 +
===Currency and transaction fee===
 +
CosmoPayment transfers are sent in USD and have a fee of $4 that will be deducted from the final amount sent to you.
 +
===CosmoPayment Fees===
 +
Please check out all applicable CosmoPayment fees on their website: https://www.cosmopayment.com/fees
 +
===How to receive your money via CosmoPayment on SoulCams?===
  
−
To send your wire transfer payment, please make sure to fill out the following bank account details:
+
* If you do not have a CosmoPayment account yet, you need to register one at https://www.cosmopayment.com/ and provide us your '''CosmoPayment SAN number'''.
 +
* You can provide your CosmoPayment SAN number in your account at menu: '''Settings/Account and Payment settings''' and 'Payout' tab after selecting CosmoPayment.
  
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* '''Payee name''': the person to whom money is being paid. This is the 'account holder' or 'beneficiary'. Please enter only unaccented alphabetical letters here (A–Z or a–z.). The 'Payeee name' must be exactly the same as the owner of the bank account. Add the name of the Account Holder right, do not shorten the name in any way (e.g. If the Account holder is: Kate Smith Birmingham than add this name exactly and DO NOT shorten it like Kate S. Birmingham or K. Smith Birmingham, ...)
+
==PAYPAL==
 +
[[File:Paypal-logo.png|230px]]
  
−
* '''Account number''': this row of numbers identifies your individual account.
+
===More about PayPal===
  
−
* '''IBAN''': = '''I'''nternational '''B'''ank Account '''N'''umber. Almost all banks in Europe provide an IBAN identifier for their accounts as well as nationally recognised identifiers. Contained within the IBAN is information about the receiving country, bank, branch and account number. The IBAN is up to 34 characters long and includes numbers and letters. To be sure that you add your IBAN properly, you can check it first on this site: [https://www.ibancalculator.com/iban_validieren.html Check IBAN / show more information]. The following page also might be useful if you are not sure about your IBAN format: [https://en.wikipedia.org/wiki/International_Bank_Account_Number#IBAN_formats_by_country IBAN formats by country]
+
* PayPal has become well-known as one of the first options that provided consumers the ability to '''send and receive money online'''. In addition to letting you send and receive cash, PayPal also offers '''credit and debit cards that you can use to access your Paypal balance for online payments and in-person purchases.'''  
 +
* You can link your preferred '''credit, debit or prepaid cards or your bank account to your PayPal account''' and transfer money to any of those. PayPal accepts a range of cards including '''Visa / Visa Delta / Visa Electron; Mastercard / Eurocard; Maestro; American Express'''. Therefore, if your prepaid card has any of the following symbols on it, it can be linked to your PayPal account and transfer the money there.
  
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* '''SWIFT/BIC code''': = '''S'''ociety for '''W'''orldwide '''I'''nterbank '''F'''inancial '''T'''elecommunication). These codes are used when transferring money between banks, particularly for international wire transfers between banks. The SWIFT code is 8 or 11 characters and consits of numbers and letters (to check what type of characters a SWIFT code contains and to read more about SWIFT code click here). The SWIFT code can sometimes be found on account statements, if not then please call your bank and ask the SWIFT code from them (sometimes SWIFT code is called as BIC code = Bank Identifier Code too. The following page might be useful to find out your bank's SWIFT/BIC code if you are not sure about that: [https://transferwise.com/gb/swift-codes/banks online BIC/SWIFT code finder]
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* official homepage of PayPal: https://www.paypal.com/
  
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* '''ABA/Routing number''': (ABA = American Banking Association) Those who have their bank account outside the USA, the ABA / Routing number is not needed (in this case leave this field empty). The ABA routing number is a 9–digit number assigned to financial institutions by The American Bankers Association (ABA) to identify the financial institution upon which a payment was drawn.
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===How to receive my payments via PayPal from SoulCams?===
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If you want to use PayPal to receive money from us, you need to have a '''PayPal account''' and provide us the '''e-mail address associated with your PayPal'''.
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Please do it in your SoulCams account at ''''Settings / Account/Payment settings'''' menu (at the bottom of ther page). If we send you a payment, you’ll receive an email notification. You’ll need to manually accept the first payment you receive. The payments received afterwards will be automatically accepted into your account.

Latest revision as of 09:26, 11 September 2024

GENERAL PAYOUT INFORMATION

EARNING PERIODS

We divide each month into two earning periods, these are:

  • I. earning period: 1st - 15th of the month
  • II. earning period: 16th - till the end of the month

PAYOUT LIMITS

  • Payout limit is the amount of earnings you need to collect in order to get paid on the payout date of that period (you can read more about payout dates under PAYOUT DATES section.
  • Important! Your first payout is sent when you earn over $100 in total, except for wire transfers, where it is $300.
  • Please see the payout limits here.

PAYOUT DATES

If your earning reaches the minimum payout limit in any given period, your payment will be sent within 15 working days after the period end. Note: weekends, public holidays are not working days!

IF YOU EARN LESS THEN THE MINIMUM PAYOUT LIMIT

If you earn less than the payout limit in a period then the amount will be rolled over to the next pay period.

PAYMENT METHOD AND / OR PAYOUT LIMIT CHANGE

Please note that you cannot change payout-related information (payment method, minimum payout limit, payout frequency) between 1-10 and 16-26 of each month as these are the payout periods on SoulCams So the dates when you can change these settings are: 11-15 of each month and 27-till the end of the month.

If you would like to change your payment settings then do the followings:

1. log into your studio or solo performer account.
2. click on the menu: Settings / Account and Payment settings
3. scroll down the page to the 'Payout information' section and do the necessary changes and hit 'save' when you are finished

CURRENCY

Please note that SoulCams.com sends payouts in EUR, by default (except CosmoPayment where it is USD), however you can select and ask for USD payments too.

PAYOUT METHODS ON SOULCAMS.COM

payment method min. payout limit currency Transaction fee more info website
Wire (bank) transfer $300 EUR or USD 10 EUR / 10 USD read more  
Paxum $100 EUR or USD 2 USD read more https://eu.paxum.com/
CosmoPayment $100 USD 4 USD read more https://www.cosmopayment.com/
PayPal $100 EUR depends on the amount sent read more https://www.paypal.com/


WIRE TRANSFER

Wire-transfer.jpg

  • As the account holder, you are responsible for paying the banking fees. The wire transfer has a fix fee of 10 EUR (regardless of the amount) that the bank will deduct from the final amount you receive. Tip: set a higher minimum payout limit than 100 to save on transfer fees.
  • We send wire transfers in EUR and USD currencies by default. You have to make sure that your bank account is able to receive the currency you choose when adding the wire transfer details in your settings. If you need another currency (CAD, GBP, HUF, etc), it is also possible, but make sure to contact us about it.
  • The minimum payout limit for wire transfer is: $300.
  • Wire transfers usually take 3-5 business days depending on your location.

Conditions for receiving wire (bank) transfers from us:

  • You must have a valid (not expired), government-issued photo ID in latin letters uploaded ('Personal' tab)
  • A valid billing address must be added ('Billing' tab)
  • If you are outside the EU (European Union), UK and USA, you need to print and sign the SoulCams Model/Studio agreement and send it back to us. We will send you the relevant document for signing when you have a payout due.

To send your wire transfer payment, please make sure to fill out the following bank account details:

  • Payee name: the person to whom money is being paid. This is the 'account holder' or 'beneficiary'. Please enter only unaccented alphabetical letters here (A–Z or a–z.). The 'Payeee name' must be exactly the same as the owner of the bank account. Add the name of the Account Holder right, do not shorten the name in any way (e.g. If the Account holder is: Kate Smith Birmingham than add this name exactly and DO NOT shorten it like Kate S. Birmingham or K. Smith Birmingham, ...)
  • Account number: this row of numbers identifies your individual account.
  • IBAN: = International Bank Account Number. Almost all banks in Europe provide an IBAN identifier for their accounts as well as nationally recognized identifiers. Contained within the IBAN is information about the receiving country, bank, branch and account number. The IBAN is up to 34 characters long and includes numbers and letters. To be sure that you add your IBAN properly, you can check it first on this site: Check IBAN / show more information. The following page also might be useful if you are not sure about your IBAN format: IBAN formats by country
  • SWIFT/BIC code: = Society for Worldwide Interbank Financial Telecommunication). These codes are used when transferring money between banks, particularly for international wire transfers between banks. The SWIFT code is 8 or 11 characters and consits of numbers and letters (to check what type of characters a SWIFT code contains and to read more about SWIFT code click here). The SWIFT code can sometimes be found on account statements, if not then please call your bank and ask the SWIFT code from them (sometimes SWIFT code is called as BIC code = Bank Identifier Code too. The following page might be useful to find out your bank's SWIFT/BIC code if you are not sure about that: online BIC/SWIFT code finder
  • ABA/Routing number: (ABA = American Banking Association) Those who have their bank account outside the USA, the ABA / Routing number is not needed (in this case leave this field empty). The ABA routing number is a 9–digit number assigned to financial institutions by The American Bankers Association (ABA) to identify the financial institution upon which a payment was drawn.

Recommended wire (bank) transfer solutions

Some of you may have worked as a webcam model for longer. You surely remember the shocking news when one of the biggest payment platforms ePassport went down in September 2010. Many companies lost a lot of money and even more models and affiliates were left with no option to withdraw or spend their money.

Fast forward to May 2018, FirstChoicePay (and the Belize based Choice Bank) went down, again leaving many businesses and people without money. These events show, that if you want your money to be save (and why wouldn’t you?) you should keep it with an established financial institute. Storing your money on a virtual wallet, provided by a dubious company, registered on a Caribic island, with no bank guarantee isn’t exactly safe. It’s more like gambling or Russian-roulette.

What you need is a bank account, with a trustworthy Bank. You might say, that banks can also go bankrupt and you might be right. But the chance is much lower, that an established and prestigious bank would go down from one day to another. We, as a webcam platform must make sure, that we receive our money in time and can safely and legally move that money. You, as a webcam model must also make sure, that you can receive your money and that money is safely kept.

This is why we decided to offer a few tips on how to get paid safely and which companies we trust, when it comes to receiving payments.


The good old bank (bank account)

Having a bank account at a reputable, local bank is what we consider the safest. You can receive money in different currencies (at least in USD and EUR if you want), you can have a debit or credit card and you do not have to worry about losing your hard-earned money. Look around in your country, try to find the best deal. Remember, cheap is not always the best!


(Transfer)Wise

Wise is a London-based money transfer service. After registration, you get your own bank account number (IBAN) and can receive money in all major currencies like EUR, USD, GBP, CAD and many more. You can also get your own debit card that you can use at ATMs all over the world or pay directly in shops. They have a very transparent pricing scheme so you will not get and surprises in form of hidden costs. Wise is on the market since 2011 and are authorised by the FCA. This means, that they are controlled regularly by the authorities.

Wise account fees:

  • Creating account: 0 EUR
  • Wise debit card: 6 EUR

Sign up for Wise here: https://wise.com/invite/ie/ferencm170


Revolut

Revolut is also a UK fintech company, founded in 2015 with the headquarters in London. Their solution allows you to receive and send money quickly and safely. Revolut comes with a mobile app and a debit card. Opening an account is easy and only takes a few minutes. The mobile app offers you many options to handle your money: send to family and friends, exchange between currencies, view your spendings and a lot more.

Revolut account types and fees

  • Standard: 0 EUR / month
  • Premium: 7.99 EUR / month
  • Metal: 13.99 EUR / month

Sign up for Revolut here: https://revolut.com/referral/?referral-code=ferencq5q6!AUG2-24-AR


N26

N26 is a fresh fintech company from Germany, offering a very intuitive mobile app to take control over your finances. You can order a debit card, that comes in 5 different colors and you can choose the one you like best. The account and card works with Apple Pay, so you can use it to pay directly from supported Apple phones. The paid accounts (You and Metal) come with basic travel insurances, up to 5 and 8 free withdrawals within the Euro zone and up to 10 sub-accounts.

N26 account types and fees

  • N26 Standard: 0 EUR / month
  • N26 You: 9.90 EUR / month
  • N26 Metal: 16.90 EUR / month

Sign up for N26 here: https://n26.com/r/aronk2606


PAXUM

Paxum-logo.png

More about Paxum

The Paxum global e-wallet is a leading alternative payment service for the online entertainment industry. The award-winning payment company offers a cost-effective and secure service that allows users to easily send and receive money instantly all over the world with just an email address. By choosing this option, you will be paid on your Paxum virtual account from where you can easily transfer funds to your Paxum MasterCard® card or to your local bank as well as to external credit cards.

About Paxum MasterCard

Paxum Prepaid Card is accepted worldwide. You can make transactions online or go to a store and make signature based purchases just like you would do with any other regular credit card. You can also use your Paxum Prepaid Card to withdraw money from most ATMs around the world.

Every verified Paxum client has the option to request their own Paxum Card after account verification is complete.

Please read more about Paxum MasterCard at Paxum's official FAQ page: https://www.paxum.com/us/faq/paxum-debit-card/

Personal Account Fees

Learn more about the personal account fees at Paxum's official site: https://www.paxum.com/fees/personal-account/

How to receive your money via Paxum on SoulCams?

  • If you do not have a Paxum account yet, you need to register one at https://www.paxum.com/ and provide us your Paxum username which is your Paxum email address.
  • You can provide your Paxum email address in your account at menu: Settings/Account and Payment settings (bottom of the page).

COSMOPAYMENT

Cosmopayment logo.png

More about CosmoPayment

  • CosmoPay is an e-wallet debit card that money is deposited onto. You will need to create a CosmoPay account to receive your payout. If you do not have one yet, register an account on their site: https://www.cosmopayment.com/
  • You can study more about CosmoPayment on their FAQ page: https://www.cosmopayment.com/faq

About the CosmoPayment Prepaid Card

  • Cosmo Payment will issue a reloadable card that you can use much like a debit card for purchases and to withdraw funds from ATM’s. While you await the arrival of your Cosmo Payment card (issued by Cosmo Payment), you will have access to a “virtual card” that you can use for online purchases (as funds are available).
  • A Prepaid Card provides you with access to all merchants and Cash Machines (ATM) that accept payment cards. With this card you do not have to apply for a bank account or pay interest like on a credit card. The Prepaid card is a card that carries a variable amount of money based on the amount loaded onto the card. Each time you use the card to buy something or withdraw cash at a Cash Machine (ATM) the purchase amount is deducted from the available balance.

Your Cosmo Payment SAN number

The SAN number is the 9 or 10 digit number you received when you opened your COSMO Payment account. The SAN number can be found ont he back of the prepaid card or under the ’My account’ page of your CosmoPayment account.

Currency and transaction fee

CosmoPayment transfers are sent in USD and have a fee of $4 that will be deducted from the final amount sent to you.

CosmoPayment Fees

Please check out all applicable CosmoPayment fees on their website: https://www.cosmopayment.com/fees

How to receive your money via CosmoPayment on SoulCams?

  • If you do not have a CosmoPayment account yet, you need to register one at https://www.cosmopayment.com/ and provide us your CosmoPayment SAN number.
  • You can provide your CosmoPayment SAN number in your account at menu: Settings/Account and Payment settings and 'Payout' tab after selecting CosmoPayment.

PAYPAL

Paypal-logo.png

More about PayPal

  • PayPal has become well-known as one of the first options that provided consumers the ability to send and receive money online. In addition to letting you send and receive cash, PayPal also offers credit and debit cards that you can use to access your Paypal balance for online payments and in-person purchases.
  • You can link your preferred credit, debit or prepaid cards or your bank account to your PayPal account and transfer money to any of those. PayPal accepts a range of cards including Visa / Visa Delta / Visa Electron; Mastercard / Eurocard; Maestro; American Express. Therefore, if your prepaid card has any of the following symbols on it, it can be linked to your PayPal account and transfer the money there.

How to receive my payments via PayPal from SoulCams?

If you want to use PayPal to receive money from us, you need to have a PayPal account and provide us the e-mail address associated with your PayPal. Please do it in your SoulCams account at 'Settings / Account/Payment settings' menu (at the bottom of ther page). If we send you a payment, you’ll receive an email notification. You’ll need to manually accept the first payment you receive. The payments received afterwards will be automatically accepted into your account.

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