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Ways to Get Paid by FastSpring

Overview

Receive disbursements from FastSpring with several payment method options.

FastSpring is upgrading to a new FastSpring Payouts portal to offer Sellers more flexibility and similar or reduced fees for disbursement options.

New Sellers

  • New Sellers as of 5pm PT on July 1, 2020 will only use the FastSpring Payouts portal

Existing Seller Transition Details

 Opt-in by August 8, 2020 for early access to receive your payouts in the upgraded portal starting August 31, 2020

  • 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
  • Your payout account information (except for Payoneer Prepaid MasterCard information) will be automatically migrated to your new FastSpring Payouts account
  • US sellers with greater than $20,000 in trailing 12 month sales will be prompted to populate a 1099-K

New FastSpring Payouts

FastSpring Payouts requires a one-time account activation. FastSpring will fund your FastSpring Payouts account according to your Payment Frequency and you control disbursement from your FastSprings Payouts account.

This payment method applies to you if you see an Activate FastSpring Payouts Account or FastSpring Payouts Portal button under your Store menu > Account Summary.

See the FastSpring Payouts Support Center for additional questions about your FastSpring Payouts account, withdrawing funds, or tracking your payment and transfers.

Activate FastSpring Payouts Account

  1. Click the Activate button in the FastSpring App or in your activation email
    • FastSpring App: Navigate to your Store menu > Account Summary and click Activate FastSpring Payouts Account
    • Activation email: After your first transaction and when your FastSpring Payouts account is funded according to your Payment Frequency, you will receive an email notification with the subject “[Activation Required] You received a FastSpring Payout”. Click Activate Account.
  2. On the FastSpring Payouts account registration page, enter your Seller ID and click Continue
    • Find your Seller ID in the FastSpring App under your Username > Profile > Your Company ID or parentheses in the first sentence of your activation email
  3. Select your Account Type (Individual or Business)
  4. Enter your Account Profile details as requested, ensuring the information is accurate and matches your government ID. Click Continue.
  5. Enter your desired Password and Security Questions, select the checkboxes for the Legal Agreements, and click Continue
  6. If prompted, select your appropriate Taxpayer Identification and click OK
  7. On the eCommunications Disclosure page, select the checkbox and click OK
  8. If prompted, complete the Taxpayer Identification details as requested, select the check boxes for Electronic System Submission, enter your name, and click Confirm

 

Disbursement from FastSpring Payouts

  • Transfer your funds in up to 55 currencies and via Local Bank Transfer, Wire Transfer, MoneyGram, Debit Card, Check, PayPal, or Venmo (options depend on your country and currency)
  • To see the current fee and processing time for each method, log in to your FastSpring Payouts portal and click Resources > Fees
  • If foreign exchange (fx) is involved, the fees and rates will be clearly displayed before you make a transfer
  • If your FastSpring Payouts account has a balance and you do not initiate a transfer for an Inactivity Period of 90 days, you will incur a monthly fee of $5 (we recommend you configure Auto Transfer to avoid the fee)

Set Up Transfer Method

  1. Under Add New Transfer Method, select your country and currency
  2. Select a transfer method and click Continue
  3. Enter your account details as requested, and click Continue
  4. Carefully verify that your information is correct and click Confirm

Auto Transfer

  1. Follow instructions to set up at least one transfer method in FastSpring Payouts
  2. In the FastSpring Payouts portal, select Transfer to view your Transfer Center
  3. For your desired payment method, select Action > Create Auto Transfer
    • To modify existing auto transfer settings, select Action > Update Auto Transfer
  4. Configure the transfer period and transfer percentage and click Save
  5. Optionally, select More Options to configure additional currency settings
  6. Click Confirm

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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