We know that there are other platforms out there that can be a tad secretive and… let’s call it mysterious and just not so transparant, about their payouts. But not us. We’re all adults here so let’s discuss money as open as we can.
So as you might know we normally do a standardized payout around every sixth of the month. At that time you would normally receive all of your earnings (of course minus our 18% commission and the 10% buffer to deal with possible chargebacks by Fans). We’ve noticed that there would always be a slight panicky vibe around payday, seeing that some Creators were used to platforms not paying on time or constantly changing the rules. And we get that. But like we keep on saying, keeping our Creators happy is in our best interest. And if we were to change the rules it would be so they’d be more in your favor.
So to do just that and to make sure we live up to our ‘for Creators, by Creators’ mission statement we’ve decided to make things easier and introduce flexible payouts. Meaning: instead of the standardized payout every month you get to decide when you transfer your F2F-money into your bankaccount. You’ll get to view your available balance throughout the month. Your available balance consists of your revenue made seven days or longer ago. We’ll get rid of the 10% buffer we kept before (good news for you!) and you get to decide if you’d like to keep your revenue building up at F2F or do a payout at whichever moment you wish.
You get to choose when and what you get. So that could be a weekly payout, a single payout or maybe monthly like before. And you decide how much (any custom amount, up to all of it) to transfer to your own bankaccount and how much of it stays in your F2F-account.
This new option will be available after the 7th of February which will also be the last payday ‘old style’. After that you get the decide how you get paid.
So, there you have it. This was us being as transparant, open and safe about money as we could possibly be. We’re very excited to be implementing this and can’t wait for you to try it out. Hit us up if there are any questions!