If you're a new freelance writer thinking about joining Textbroker to write blog posts, articles and webpages for clients or an existing freelancer who's worked on orders for textbroker for months or even years, you may be interested to know that they are switching from paying writers via PayPal to Payoneer. Textbroker is calling this move and "improvement to their payout process. However, you'll have to be the judge of that.
We [Textbroker] will be changing payment processors from PayPal to Payoneer. This new processor will allow authors to receive payment directly to their US bank account. This should mean money into [the author's] bank account as fast or faster than paying via PayPal, where [authors] then need to transfer that money from PayPal into your bank account.
As of this week (Notice recieved Friday October 11, 2019), all new authors will use this new process, which means the FAQs on our website about payments will not be totally accurate for [existing authors.]
All existing authors will continue to use PayPal through December 31st, 2019. For those [authors] who receive more than $600 from Textbroker in 2019, your 1099 will be mailed to [the author] in January 2020.
Before January 1st, 2020, existing authors will be prompted to create a Payoneer account via your Textbroker account in order to receive pay-outs. When creating that Payoneer account, [the author] must link it to a US bank account, meaning you must have a US bank account to get paid. All future 1099 tax forms, starting with the tax year 2020, will be handled by Payoneer, which will send the forms via email. We will provide detailed guidance on how to go through the Payoneer process as we get closer to year-end - please do not create a Payoneer account now on your own!
BETTER PAY-OUT BUTTON FUNCTIONALITY
In connection with our move to Payoneer for new authors this week, we have changed how the pay-out button works. Now, once you have at least a $10 balance in your account, you only need to click the button once before 11:59 PM PT on Thursdays, and we pay-out whatever is in your account at the time we process pay-outs on Friday morning. For example, if you have $12 in your account on Tuesday, you can click the button. The button then disappears. If you have more orders accepted on Wednesday and Thursday so that there is $32 in your account by Friday morning, then you get $32 in Friday’s pay-out. This is now true whether you are an existing author getting paid via PayPal or a new author getting paid via Payoneer. The button reappears on Friday after we process pay-outs.
TWO PAY-OUTS PER WEEK STARTING IN JANUARY?
In addition, we are considering implementing twice per week pay-outs starting in January. The new pay-out request deadlines would be 11:59 PM PT on Sundays and Wednesdays and we would process pay-outs on Monday and Thursday mornings (whether there is a national holiday or not). Our hope is that the money would be available in your bank account by Tuesday/Friday, although that is controlled by Payoneer and your bank, not by us. Authors who request a pay-out before we process pay-outs on Monday would be charged a $1 fee as otherwise our pay-out processing costs would double. Authors who want to avoid any fees could wait and request a pay-out any time between noon PT on Monday and 11:59 PM PT on Wednesday and continue to get paid just once per week. The decision to request zero, one or two pay-outs in any given week would be entirely up to you (of course, you must have at least a $10 balance each time you request a pay-out). You can decide what works best for you each week.
These new implementations will help us transfer your money into your bank account as quickly and frequently as possible! Let us know what you think about twice per week pay-outs with the first pay-out of the week incurring a $1 fee by completing a survey.
I have not had time to look at Payoneer to determine if it's a trustworthy site and if it's safe to sign up with them. I have heard that they require a lot of personal identification, including a photo of your driver's license. If you know something about this payment company, feel free to leave a comment. If you want to check them out, they can be found here: https://www.payoneer.com/