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Ways to Get Paid by FastSpring

Overview

Receive disbursements from FastSpring with several payment method options.

Our commitment to you

At FastSpring, we know that the more time you spend waiting for payouts, shopping foreign currency exchange (FX) rates, and transferring money from place to place, the less time you spend growing your business. We are committed to help our Sellers get paid as quickly, efficiently, and cost-effectively as possible. That means providing you with competitive FX rates and flexible payout options.

We recognize that FX can be difficult to understand, which is often intentional to help FX conversion providers make more money and prevent you from shopping around. FastSpring Payouts includes full FX transparency and clearly displays conversion rates and fees before you make a transfer. The FastSpring Payouts partnership with HyperWallet and PayPal leverages their access to wholesale FX markets (different from PayPal consumer FX rates ). We are able to pass on the savings to you.

How FX works

Through the FastSpring Payouts platform, sellers can convert funds to up to 55 different currencies without moving money between multiple intermediaries.This saves you time and money because we have secured aggressive FX rates through the PayPal wholesale currency trading desk.

  • Preview FX rate. Check the rate by creating a new transfer. Note: you cannot preview a conversion rate for an auto-transfer.
  • Transfer with confidence. The rate you see is the final rate you will pay—there are no hidden fees that you may encounter with other platforms and banks. 
  • Convert a lot or a little. With FastSpring Payouts, you can decide to convert your entire balance or just a portion. 
  • Give us a chance to match. If you see lower FX rates elsewhere, let us know. We are continually negotiating on your behalf and will continue to fight for lower fees. Please contact our FastSpring Payouts team at payouts@fastspring.com with your Seller ID and any relevant details that will help us better support you and your growing business. 

Changes to your payout process

FastSpring is upgrading to a new FastSpring Payouts portal to offer Sellers more flexibility, reduced fees, and global-friendly enhancements. Our new payout partner connects FastSpring Sellers with access to a network of global payout capabilities and the latest technology to securely distribute funds almost anywhere in the world. These changes have no impact on your buyer experience and give you more control over your payout process.

FastSpring will fund your FastSpring Payouts account according to your current Payment Frequency and you will manage disbursement from the FastSprings Payouts portal. Sellers who split revenue with other partners will experience no interruption in service and partners will receive funds through their dedicated FastSpring Payouts account.

The FastSpring Payouts portal includes:

  • More currency and regional coverage. There are 55 currency options across 230+ regions compared to the previous 12 currencies and 36 regions.
  • Additional transfer methods. Venmo and Moneygram are now available and cheaper direct bank deposit is available in 90+ countries compared to the previous 35 countries.
    • To see the current fee and processing time for each method, log in to your FastSpring Payouts portal and click Resources > Fees
  • Enhanced functionality. Set up flexible split pay and auto-pay options and localize the FastSpring Payouts portal in your choice of 30+ languages.
  • Competitive foreign exchange rates. FastSpring has negotiated FX fees that are better than alternative options in most cases.
  • Increased transparency. See real-time fees based on your transfer method selections and integrated payment tracking.
  • Dedicated support. Multilingual phone, email, and chat support is available to answer any questions about account setup or transfers with FastSpring Payouts
  • More security: Bank account validation and multifactor authentication keep your funds even more secure.

 Payoneer will be replaced with FastSpring Payouts

To enable all the advantages listed above for all Sellers, Payoneer will no longer be available for payouts. Compared to Payoneer, the new FastSpring Payouts portal includes dedicated support, faster processing times for payouts and account changes, more currency and country options, and decreased fees.

FastSpring Payouts Transition Details

 Activate to avoid payout delays

The FastSpring Payouts portal requires a one-time account activation that is separate from your FastSpring App account. When you receive a notification to activate FastSpring Payouts, make sure to complete activation so that we can fund your account as scheduled. 

New Sellers

Existing Sellers

  • Sellers with Stores before 5pm PT on July 1, 2020 will continue to use the Legacy Payment Method and transition in phases from August-December 2020
  • You will receive a notification when it is time to migrate to FastSpring Payouts

Legacy Payment Method

These payment methods still apply if you do not see a FastSpring Payouts Portal button under your Store menu > Account Summary.

The payment methods available to you vary depending upon your location.

Change Your Payment Method

  1. In the FastSpring App, navigate to your Store menu > Account Summary.
  2. Under Payment Method, click Edit.
  3. Click Select next to the desired method to change which payment method FastSpring uses. The currently selected payment method has the word Selected in place of a Select link. 
    • To add a new payment method, click Options at the top right corner of the page and select an option for your desired payment method.

Click Delete to remove a previously-entered payment method. To delete the current payment method, you must first select or enter a different payment method.

If you previously created a different payment method, a new method is not selected automatically when you create it. Making a change to your selected payment method may take up to five business days to take effect.

Direct Deposit (ACH) and International Direct Deposit (IACH)

  • ACH direct deposit is available for sellers with bank accounts in the United States.
  • International ACH (IACH) is available in the following countries: Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom.
  • Multi-currency countries: FastSpring can deposit EUR but does not have a local presence in Switzerland nor Sweden so non-EUR local currency dispersement must occur via wire transfer.
  • FastSpring cannot make direct deposit disbursements in U.S. Dollars to bank accounts outside of the United States.
  • Direct deposits are processed overnight. 
  • International Direct Deposit (IACH) may be less expensive than a wire transfer, but it is potentially slower and limited to the currency of your local direct deposit banking system.
  • Direct deposits outside of the U.S. incur a conversion fee of 2.5% of the deposit amount. Depending on the amount of the payment, a wire transfer may be a cheaper option.
  1. Navigate to Account Summary > Payment Methods > Edit > Options > Enter Direct Deposit (ACH) Information, select your Bank Country, and click Create.
  2. Complete the remaining fields, which vary depending on the location of your bank account. All fields other than Address Line 2 are required unless otherwise indicated.
  3. Click Create to add the new bank information to your account.
The Payment Methods page appears again with your new payment method available to select.

Payoneer Prepaid MasterCard®

There are certain fees associated with the Payoneer prepaid debit card.

  1. Navigate to Account Summary > Payment Methods > Edit > Options > Enter Payoneer Payment Information.
  2. Click Sign Up to connect an existing or create a new Payoneer account.
  3. Back on the Enter Payoneer Payment Information page in the FastSpring App, enter your Payoneer Payee ID in the Payoneer ID field and click Save.
The Payment Methods page appears again with your new payment method available to select.

PayPal

Disbursements made to non-U.S.-based PayPal accounts incur a 2% fee, up to a maximum of $20 USD.
  1. Navigate to Account Summary > Payment Methods > Edit > Options > Enter Paypal Payment Information.
  2. Enter the email address of your PayPal account and click Create.
The Payment Methods page appears again with your new payment method available to select.

Physical Check / Other

  1. Navigate to Account Summary > Payment Methods > Edit > Options > Enter Other Payment Instructions.
  2. In the Instructions text area, provide the following information:
    • Name of the payee to appear on the check
    • Mailing address where you want to receive the check (must be an address in the United States)
  3. Click Create.
The Payment Methods page appears again with your new payment method available to select.

Wire Transfer

Wire transfers are available for non-U.S. bank accounts only. A wire transfer is necessary when FastSpring's bank does not have a local presence in your country and are the only option when you want to receive a currency that is not your local currency. Wire transfers are not available in Euros. If you need to receive disbursements in Euros, use International Direct Deposit (IACH). For each non-U.S. wire transfer transaction, FastSpring must pay $30 in fees to our bank so we charge you a fee of $15 USD per wire transfer payment, which is automatically deducted from your payment amount.
  1. Navigate to Account Summary > Payment Methods > Edit > Options > Enter Wire Transfer Instructions.
  2. Supply information about your bank account, including the following:
    • your address (as associated with the bank account)
    • information about the bank itself
    • information about the intermediary bank (sometimes called the correspondent bank) used by your bank when processing wire transfers that originate in the United States
  3. Click Create after entering the required information. Please note that if you had previously created a different payment method, the new method is not selected by default.
The Payment Methods page appears again with your new payment method available to select.

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