Payout... how exactly does that work?

Hey, I just wanted to ask again exactly how this works.

For example, if I submit a withdrawal request on June 29, 2014, for, say, €50
, will I receive the €50 via PayPal on July 28, 2014, minus PayPal fees?

Or will the payment not arrive until August 28, 2014?

Technically, the following month would be July if I submit a withdrawal request in June.

Hi! You’ve described it exactly right—if you submit a withdrawal request by the last day of the month, the money will be deposited into your PayPal account at the end of the following month. So if you request it by June 30, you’ll receive the money on July 28. And yes, PayPal fees (€0.35 + 1.9%) will be deducted from that amount. That’s why you should always withdraw as much as possible, so those 35 cents are worth it.

Best regards,
Maike

Hello,

Recently, payouts of 1,000 euros or more can also be made by bank transfer. The minimum amount is supposed to be lowered to 300 or 500 by the end of the year. By the way, other payment options are also supposed to be offered to customers.

Best regards
Alexander

I’d read in another post that some people have to wait 8 weeks for their money, etc. So I just thought to myself, that can’t be right—it’s all a matter of organization. Sure, if I don’t submit the request until July 1, then I’ll have to wait until August 28......

But I just wanted to ask for clarification :)

1,000 € is a really huge amount..... I’d have to wait a long time for the money :) because I’d have to build up that much “store credit” first—haha

it’d be cool if you lowered the amounts to something a bit more realistic to reach.

THANK YOU VERY MUCH for your answers

Man, if the limits were lower, I could’ve already had the current payout in my account and wouldn’t have to pay PayPal fees :-( ;-)

I’d like to suggest once again that the payout amount no longer be limited to €50, but that users be able to cash out any amount at any time.
Kind regards,
Karin

I don’t quite understand the whole payout process here.  Why the “minimum amount of 50 €”? Even small sellers here are happy to receive 10, 20, 30, or… €.
On other platforms, this question doesn’t even come up. You simply get the previous month’s earnings transferred to you at the beginning of the month. And that’s fair. I offer my items, the customer buys and pays, and everyone is satisfied.

Hello Ursulapetra,

A limit is in place for economic reasons. Processing a payout involves effort, time, and costs.

Best regards
Alexander

If you look at it that way, you could also say that all sellers have invested time, effort, and money into their patterns — and 30% of the sale price goes to crazypatterns. crazypatterns now also gets the interest for the 28 days you have to wait for your money, rather than the seller, if the money were in their account...

Best regards, Johanna

Hi Alexander,
another platform transferred a small amount of €4.20 to me without any problems!
I think this €50 limit (which I haven’t found anywhere else) is simply too high—it just scares off new designers.
I really thought long and hard about whether I should sign up, because I wasn’t sure when or how often I’d reach that threshold...
So I really think something needs to be done about this!
Because this way, CP holds onto the money twice: once until I’ve reached €50, and then for at least another month until the payout.
Please be sure to pass this along!
Thanks and best regards,
Karin

I also don’t quite understand the argument about cost-effectiveness. Does that mean other platforms that pay out automatically at fixed times once a month—regardless of the amount—aren’t cost-effective? I don’t think so. And to be honest, I don’t see the cost of the payout either; the amount ends up in the PayPal account, and we—not CP—cover the fees.
An automatic payout of the entire account balance once a month at a fixed time, without the need for a prior request, could significantly reduce the effort involved, since it would allow for automation that isn’t currently possible. Additionally, as a seller, you’d then also receive those small amounts—even those in cents—that you currently can’t access, even when you request a payout. Incidentally, a payout to a bank account would also be desirable, since while we don’t cover the PayPal fees for individual orders, we do cover those for the payout itself.
I’d like to propose an idea of how I envision this working:
On the 28th of each month, sellers’ account balances would be automatically paid out in full to the seller’s bank account without requiring a prior request. As a compromise regarding a payout limit, I could imagine that amounts of €10 or more would be transferred without issue, while amounts under €10 would only be transferred if the seller explicitly requests it (via a checkbox in the settings) and accepts deductions of an amount yet to be determined (perhaps €0.50 or so). Anyone who is not willing to provide their bank details must continue to use the current procedure (including the timeframe and payout threshold).

Best regards,
Maike

Hello Maike,

that will certainly be possible at some point (I wrote about it in the author forum), but that's something for the future. 

@All authors, I ask you to make specific suggestions in the author forum (in the designated thread). Only accessible to sellers: to the thread...

Best regards
Alexander