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Payment & Payouts

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Which Countries Support Stripe Connect for Local Bank Payments

Stripe Connect is an efficient payment processing platform that currently extends its services to 43 countries worldwide, facilitating seamless transactions for freelancers on CoHostMarket. If you're located in any of these supported countries, you can effortlessly receive payments for your services directly into your local bank account.This broad coverage allows you to cater to a global clientele, significantly expanding your business reach.   Global availability Here is the current list of countries where Stripe Connect is available:  Autralia Finland Kenya Norway Austria France Latvia Poland Belgium Germany Liechtenstein Portugal Brazil Thailand Lithuania Romania Bulgaria Gibraltar Luxembourg Singapore Canada Greece Malaysia Slovakia Croatia Hong Kong Malta Slovenia Cyprus Hungary Mexico Spain Czech Republic Ireland Netherlands Sweden Denmark Italy New Zealand Switzerland Estonia Japan Arab Emirates -   Stripe is actively expanding its network: If your country isn't currently supported, it may be included in the near future. This expansion strategy ensures that more freelancers worldwide can utilize Stripe for secure and convenient financial transactions.

How do I set up a payout method for receiving earnings

To set up your payout method on our platform, follow these steps to ensure a smooth and secure process: Log into Your Account: Start by logging into your freelancer account on our platform. Ensure you use your verified credentials for secure access. Navigate to Account Settings: Once logged in, locate the main menu, typically found at the top of your dashboard. From here, select 'Account Settings' – this is where you can manage your personal and payment details. Access Payout Preferences: Inside your account settings, look for the section labeled 'Payout Preferences' or 'Payout Options.' This is dedicated to managing how you receive your earnings. Choose Your Preferred Method: In the Payout Preferences section, you will find a list of available payout methods. These can include options like PayPal, direct bank transfer, or other region-specific methods. Select the one that best suits your convenience and financial preferences. Enter Payment Details: After selecting your preferred method, you will be prompted to enter your payment details. This could include your PayPal email address, bank account information, or other relevant details depending on the chosen method. Ensure the accuracy of this information to avoid any delays in receiving your payouts. Verification Process: Some payout methods may require a verification process for added security. This could involve confirming your email address (for PayPal) or verifying small deposit amounts (for bank transfers). Follow the on-screen instructions to complete this verification. Review and Confirm: Before finalizing your payout method, review all entered details for accuracy. Incorrect information can lead to payout delays or complications. Save Changes: Once you are satisfied with the details and have completed any necessary verifications, save your changes. Your payout method is now set up and ready for use. Remember, you can always revisit your Payout Preferences to update or change your payout method as your needs evolve. If you encounter any issues or have specific questions about the payout process, our support team is available to assist you. Ensuring a secure and efficient payout process is a priority for us, and we strive to make it as seamless as possible for our valued freelancers.

What payout methods are available for freelancers

Our platform caters to a global community of freelancers, and we understand the importance of providing diverse and convenient payout options. Here's a breakdown of the payout methods currently available: PayPal: A widely used digital wallet that offers quick and secure money transfers. PayPal is ideal for freelancers who prefer a simple, online-based payout method. It's available in most countries and allows easy withdrawal to your bank account or use of funds directly from PayPal. Stripe Connect (Local Bank Transfer): For those who prefer direct deposits, Stripe Connect offers seamless local bank transfers. The availability of this method depends on your location, but it's a popular choice for its ease and direct access to funds. Checking Region-Specific Options: To view the full list of payout methods available in your region, visit the 'Payout Options' section in your account settings. This will provide you with the most relevant and up-to-date information based on your geographical location. You can also access a comprehensive list of countries supported for local bank transfers via Stripe Connect by clicking here. Upcoming Payout Methods - Payoneer and Wise: We're excited to announce that, in line with our HostPro beta release, we will soon be integrating Payoneer and Wise as additional payout options. These platforms are renowned for their global accessibility and user-friendly interfaces, making them ideal for freelancers who manage international transactions. Payoneer is particularly beneficial for freelancers looking for an efficient way to receive international payments, with options for currency conversion and withdrawals to local bank accounts. Wise, formerly known as TransferWise, is celebrated for its transparent fee structure and real mid-market exchange rates, ensuring you get the most value from your earnings. We continuously strive to expand and improve our payment solutions to accommodate the diverse needs of our freelancer community. Stay tuned for updates on the integration of these new payout methods, as we aim to provide you with a broad spectrum of choices for receiving your hard-earned money.

When can I withdraw my earnings

The withdrawal of your earnings on our platform is subject to a few conditions to ensure a smooth and transparent transaction process. Here's a guide on when and how you can withdraw your earnings: Reaching the Minimum Threshold: Firstly, ensure your earnings have reached the minimum payout threshold set by our platform. This threshold is in place to streamline the withdrawal process and maintain financial efficiency on both ends. Post-Service Confirmation: After delivering your service, the client needs to confirm that the service has been successfully completed to their satisfaction. This step is crucial as it triggers the process of releasing your earnings. Clearance Period: Once the client confirms service completion, there's a standard clearance period. This duration is a safety net allowing any necessary reviews or adjustments. It's a common practice in freelance platforms to ensure all parties are satisfied with the transaction. Earnings Payout Frequency: Depending on your membership type, the frequency of payout requests varies. For Basic Global Experts, the earnings payout frequency is weekly. This means you can request a payout once a week. In contrast, Platinum and Elite members enjoy the privilege of daily payouts. This allows for greater flexibility and quicker access to your funds. Requesting a Payout: To initiate a payout, navigate to the 'Earnings' section of your account dashboard. Here, you can view your available balance and request a withdrawal. Ensure your payout method is correctly set up and verified to avoid any delays. Membership-Specific Conditions: Remember that your membership tier might have specific conditions or benefits related to payout requests. It's advisable to familiarize yourself with these details to optimize your earnings management. By adhering to these guidelines, you can efficiently manage your earnings and withdrawals. Our platform aims to provide a reliable and convenient payout process, accommodating the diverse needs of our freelancer community.

Is there a minimum payout amount

Understanding the minimum payout amount is crucial for efficiently managing your earnings and withdrawal process. Here's what you need to know about our platform's minimum payout thresholds: Minimum Payout Thresholds: Our platform has established minimum payout amounts that differ based on the selected payout method. This is a standard practice to streamline financial transactions and minimize processing costs. Stripe Local Bank Transfer: For freelancers opting to receive their earnings through Stripe Local Bank Transfer, the minimum payout amount is set at $20. This threshold is designed to ensure that the transfer fees are proportionate to the amount being withdrawn. PayPal Withdrawals: For those preferring PayPal as their payout method, the minimum amount you can withdraw is slightly lower, at $10. PayPal is a widely used platform for freelancer payments due to its global reach and convenience. Checking Minimum Payout Requirements: To verify the specific minimum payout amount for your chosen method, log into your account and navigate to 'Account Settings'. Under the 'Preferred Payout Method' section, you'll find detailed information about the minimum amounts and any other relevant conditions. Payout Method Selection: We recommend carefully selecting your payout method based on your financial preferences and the frequency of your transactions. Consider factors like transaction fees, currency conversion (if applicable), and ease of access to funds in your region. Account Dashboard Accessibility: Your account dashboard is designed to provide all necessary information regarding earnings and payouts. It's your go-to resource for managing your financial transactions on our platform. It's important to familiarize yourself with these thresholds and conditions to ensure a hassle-free withdrawal experience. Keeping abreast of these details helps in planning your financial flow and accessing your hard-earned money with ease.

How Long Does Payout Processing Take

When it comes to receiving your hard-earned money, understanding the payout processing times is essential. Here's an overview of what to expect with different payout methods: PayPal Transfers: PayPal is known for its swift transaction process. Typically, payouts via PayPal are processed within 24 hours. It's a preferred choice for many freelancers due to its speed and reliability. However, it's always good to factor in potential delays during weekends or holidays. Bank Transfers: For payouts via bank transfer, the processing time is longer. You can expect the funds to reflect in your account within 4 to 5 working days. This duration accounts for the inter-bank transfer protocols and processing times. Factors Affecting Processing Times: Several factors can influence the speed of your payout processing. These include the specific policies of your bank or payment service, the day of the week you initiate the withdrawal (weekends and holidays can lead to delays), and any additional security checks that might be required. Planning Your Finances: Given these varying processing times, it’s important to plan your finances accordingly. If you need quick access to your funds, PayPal might be the better option. However, if you prefer direct bank deposits and can accommodate the longer processing time, then bank transfers are suitable. Tracking Your Payout: Our platform offers features to track the status of your payout. Once you request a payout, you can monitor its progress through your account dashboard. This transparency helps in managing your expectations and financial planning. Communication with Financial Institutions: In case of unexpected delays, it’s advisable to reach out to the respective financial institution, whether it's PayPal or your bank, for clarification and assistance. Remember, while we strive to process payouts promptly, some aspects of the timing are influenced by external entities like banks and payment services. Staying informed about these processes will help you manage your cash flow more effectively.

Understanding Payout Fees: What You Need to Know

When you're ready to enjoy the fruits of your labor, it's important to be aware of any fees associated with your payout. Here’s a detailed breakdown of what you can expect: Transaction Fees: Most payout methods, including PayPal and bank transfers, often involve transaction fees. These are charges levied for processing your payment and vary depending on the method chosen. Conversion Charges: If you're receiving payments in a currency different from your local currency, conversion charges may apply. These are fees for converting the currency from the client's payment to your local currency, and they're usually calculated as a percentage of the transaction amount. Membership-Specific Fees: On our platform, the fees can also vary based on your membership tier. For example, a Basic Global Expert member might be subject to different fees compared to Platinum or Elite members. It’s crucial to review the specific fee structure associated with your membership for accurate calculations. Fee Details in Account Settings: For complete transparency and ease of access, all fee details related to each payout method are available in your account settings. This section provides you with a clear picture of what to expect for each transaction, helping you make informed decisions about your preferred payout method. Planning Your Withdrawals: Understanding these fees is key to effectively planning your withdrawals. By being aware of potential charges, you can decide the most opportune time and method to withdraw your earnings to maximize your net income. Fee Updates and Notifications: Our platform ensures that you are kept informed about any changes in fee structures. Regular updates and notifications are provided to keep you abreast of any alterations that might affect your payouts. Support for Queries on Fees: Should you have any questions or need clarification regarding the fees associated with your payouts, our support team is readily available to assist. We aim to provide clarity and support to ensure a smooth transaction experience for our freelancers. In summary, while payout fees are an inevitable part of the process, being well-informed about them helps in managing your finances more effectively. Always consider these fees when planning your withdrawals to ensure you're making the most out of your earnings on our platform.

Flexibility in Payout Method Selection

Changing your payout method on our platform is a straightforward and flexible process, ensuring that you can always align your payment preferences with your current needs. Here’s how you can do it: Accessing Payout Options: Log in to your account and head over to the 'Account Settings' section. Here, you'll find the 'Payout Options' where all available payment methods are listed. Selecting a New Method: Browse through the various payout methods available, including PayPal, Stripe for Local Bank Transfers, and others. Depending on your region, you’ll find a list of methods suitable for your location. Select the one that best fits your current requirements. Updating Payment Details: Upon choosing a new method, you’ll need to provide the necessary payment details. This may include account numbers, bank information, or PayPal email addresses, depending on the method selected. Verification for Security: To ensure the security of your transactions, any new payment details you enter will need to be verified. This step is crucial to prevent any interruptions in receiving your payouts and safeguarding against unauthorized access. Immediate Effect: Once you’ve updated your payment method and completed the verification process, your new payout method takes effect immediately. All future earnings will be processed through this updated method. Revisiting Payout Preferences: Remember, your financial preferences and circumstances can change over time. Our platform allows you the convenience of revisiting and altering your payout method whenever necessary, providing you with control over how you receive your earnings. Support for Assistance: If you encounter any issues or have questions while changing your payout method, our support team is always ready to assist. We're here to ensure a hassle-free experience in managing your financial preferences on our platform. In summary, the ability to change your payout method as needed is a key feature of our platform, offering you the flexibility to adapt to changing circumstances and preferences. This process is designed to be user-friendly, secure, and accommodating to your evolving financial needs.

What should I do if I haven’t received my payout

If you encounter a delay in receiving your payout, don't worry. Here’s a systematic approach to address this issue: Verify Account Details: Start by double-checking the payout details in your account. Ensure that all information, including account numbers, routing numbers (for bank transfers), or email addresses (for PayPal), are accurate and up-to-date. Incorrect details are often the primary cause of payout delays. Review Payout Timeline: Consider the standard processing times for your selected payout method. PayPal transfers typically take up to 24 hours, while bank transfers can take several business days, around 4 to 5 working days. Delays might occur due to bank holidays, weekends, or other non-business days. Check Minimum Threshold: Ensure that your earnings have surpassed the minimum payout amount, which is $20 for Stripe Local Bank Transfer and $10 for PayPal. Payouts won't be processed if the minimum threshold isn’t met. Assess Recent Activity: Reflect on any recent changes in your account settings or payout method. If you’ve recently updated your payout details, it might affect the current transaction. Contact Support for Assistance: If everything seems in order and you’ve still not received your payout within the normal timeframe, it’s time to reach out for help. Contact our support team with the specifics of your issue – include details like the payout method, the expected date of receipt, and any recent changes to your account. Gather Necessary Information: When contacting support, have all relevant information at hand. This includes your user ID, the transaction ID (if available), the date of the transaction, and any correspondence or notifications received about the payout. Patience and Follow-up: After reaching out, please be patient as our team investigates your query. We understand the importance of timely payouts and will work diligently to resolve your issue. Feel free to follow up if you haven’t received a response within a reasonable timeframe. Remember, payout delays can happen occasionally due to various reasons. Our team is committed to assisting you promptly and effectively to ensure you receive your earnings as soon as possible.

Earnings Calculation for Global Experts on CoHostMarket

For Global Experts on CoHostMarket offering online services and consultations, understanding how your earnings are calculated is crucial. Here's a detailed guide tailored for you:  Setting Your Price: As a Global Expert, you set the price for your online services and consultations. This should reflect your expertise, service complexity, and market trends. Commission Fee Applicable to Global Experts: CoHostMarket deducts a commission fee from the total service fee charged to clients. This fee varies based on your membership tier: Basic Members: (offering only online services): 20% commission. Platinum Members: 15% commission, with the ability to offer online consultations up to 40 minutes. Elite Members: 10% commission, with similar online consultation privileges as Platinum Members.Net Earnings: Your earnings equal the service price minus the platform's commission fee. For example, if a Basic Member charges $100 for a service, the net earning will be $80 after a 20% commission deduction.   Visibility and Accessibility of Earnings: After successful completion and client confirmation of the service, your earnings are visible in your dashboard. These are then subject to CoHostMarket's clearance period before becoming available for payout. Payout Frequency for Global Experts: Basic Members can request weekly payouts. Platinum and Elite Members are eligible for daily payouts, facilitating quicker access to earnings.Tax Considerations and Additional Fees: It's essential to consider any taxes or extra fees that might apply based on your geographic location and selected payout method. Earnings Monitoring and Price Adjustments: Keeping an eye on your earnings and adjusting service prices based on demand, client feedback, and market dynamics is advised. This approach ensures that you remain competitive and maximize your profitability. Exclusivity for Online Services and Consultations: This earnings structure is exclusive to Global Experts on CoHostMarket who specialize in online services and consultations, ensuring a tailored and transparent financial setup. By understanding this earnings structure, you, as a Global Expert on CoHostMarket, can effectively manage your services, set competitive prices, and optimize your financial returns from the platform.

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