In order to start earning money from Tips and Royalty Distributions, you'll need to set up a payout method for us to deliver the funds to you.
This guide covers everything you need to know about setting up your payout preferences, understanding the fees associated with different payout methods, minimum payout thresholds, and when you can expect to receive your money. Whether you're a new or existing user, this guide will ensure you have all the information you need to start earning on BandLab!
When you're owed money on BandLab, you will be prompted to set up a payout method so we can deliver the funds to you. To select your preferred payout method:
- Go to your account’s payment settings
- Under Payout Method, click on the Connect button next to Tipalti
- Fill in the required information, including contact details and the preferred payment option, then click Next
- You'll be returned to the Settings page with your payout method set up!
Payouts are made in USD. If a different currency is selected in your account, there may be an additional fee of up to 3%.
BandLab does not take any fees when processing payouts. However, our payment provider charges a fee for sending money, which will be automatically deducted from your earnings during the payout process.
Please note that the Earnings Balance displayed on your My Earnings dashboard is before any taxes or fees levied by our payment provider. Net earnings will be displayed in your Payout History.
The fees for different payout methods are as follows:
i. PayPal International: $0.50 + 2% (up to $20)
ii. PayPal Domestic: $0.50 + 2% (up to $1)
iii. ACH (U.S. only): $0.50 per payment
iv. Check: $1.99 per payment
v. Local Bank Transfer / SEPA transfer: $3.50 per payment
vi. International USD Wire: $26 per payment
vii. International FX Wire Transfer: $20 per payment
viii. US Domestic Wire: $15 per payment
In the event of any issues with payouts, your balance will be moved to the following month's processing batch.
There may be a maximum payout limit in certain countries. Your earnings will be divided and sent in multiple payments if this limit is reached.
To check the status of your Tips payouts, you can submit a request to our Support Team using the contact form.
Note
BandLab is unable to assist with tax-related inquiries. Please refer to the IRS website or consult a tax professional for further information.
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