All withdrawals are issued on the 15th of the following month

Every time while i am transferring my earnings on Envato Marketplaces, i am sticking to the next rule…

All withdrawals are issued on the 15th of the following month (except when the 15th falls on a weekend or public holiday, in which case it is issued on the next business day).

I see it is really too long to wait for almost a month until my transfer get processed. Due to the rule of the marketplace that dictates (All withdrawals are issued on the 15th of the following month).

So if i asked for transfer my money at 16th of the month, i have to wait until 15th of the following month and this is exactly what i am seeing too long.

Actually i know that it’s an accountancy process of Envato and for sure Envato have reasons of that but i think if they tried to reduce the transfer time to 5 working days it will be great and i would be more satisfied…

Are you agree with me?

I think it‘s fine like it is at the moment.

I withdraw my cash at the last day of the current month and get it at the 15. of the upcoming. If you are working on a daily base as an employee, your getting your cash also on a fixed date.

Sure it wouldt be nicer if we can cash out at any time, but I think it‘s not neccesary at all. It would be a nice feature, but not the most important thing at all. Just cash out at the last day und plan with the money at the 15th-16th of the month.

Lung

I must agree with Lung. I’m checking to withdraw all money from my account when the month is near its end and get my money each month on 15th.

I think that better Idea is about the possibility to check automated withdraw and not each month go to withdrawal tab and confirm it again.

Although I also find it annoying, I don’t see a better solution right now. But maybe Envato could make it just a little faster and not 15 days.

Twice a month would be nice, while still keeping the 15days rule (for which the official reason is mostly security reasons, If I remember correctly). Withdraw on 1st, get it on 15th. Withdraw on 15th, get it at the end of the month > Happy authors, security still taken care of as usual.

i dont mind the once a month, just wish it was on the first.. but i guess its on the 15th to stop hacking. it would be interesting to see how it works..

Not only does it prevent malpractise transfers (i.e. someone being able to take all the money out of your account if you’ve just left it open without you ever noticing – now you have 15 days to notice the e-mail and cancel), it is also what most companies that handle large sums of payout-money do. They simply make a fortune on interest alone. At the current rate of ~2.5% a year, holding half a million for 15 days would mean a free $5000. That’s two people’s salary right there.

Joost said
Not only does it prevent malpractise transfers (i.e. someone being able to take all the money out of your account if you’ve just left it open without you ever noticing – now you have 15 days to notice the e-mail and cancel), it is also what most companies that handle large sums of payout-money do. They simply make a fortune on interest alone. At the current rate of ~2.5% a year, holding half a million for 15 days would mean a free $5000. That’s two people’s salary right there.

i seen some australian savings accounts at 6%... its crazy awesome over there.

cmt said
Although I also find it annoying, I don’t see a better solution right now. But maybe Envato could make it just a little faster and not 15 days.

5-7 days are most likely

this is what we are thinking but envato staff can’t notice for these discussions

Anjum said

cmt said
Although I also find it annoying, I don’t see a better solution right now. But maybe Envato could make it just a little faster and not 15 days.

5-7 days are most likely

this is what we are thinking but envato staff can’t notice for these discussions

He really is!