Payout Information & Policies


Tax Information

All iWantClips Store Operators are Independent Contractors and not employees. This means that all payouts you receive as a Store Operator will have no taxes withheld and you will be paid 100% of your earnings, for tax purposes.

U.S. Stores - You will be required to complete a W9-Form in order to open your store. A 1099-MISC IRS tax form will be sent to you on or before January 31st (with the SSN or EIN you submitted on your W-9 Form) from Gatsby Enterprises, Inc.

The 1099 will contain the total income your Store has earned during the year and is to be used by you to file your annual income tax return. This form will also be sent to the IRS for all stores that earn more than $600.00 in a calendar year.

*If you have any tax reporting questions, please contact us at billing@iwantclips.com with the subject line Tax Inquiry.


Payout Methods for US Artists

U.S. Artists have the following payout options:

  • Direct Deposit (ACH) 
    We will deposit your payout electronically to your bank, which will be processed by our partner, Pro Pay.

    Fees to receive a Direct Deposit (ACH): None.

    All you need to be paid with a Direct Deposit (ACH) is:

    • Your SSN or EIN

    • US Banking Information
           

  • Emailed Check 
    We will send your payout via an electronic Check to your email address.

    Fees to receive an Emailed Check: None.

    All you need to be paid with an Emailed Check is:

  • Your email address

  • Paper Check 
    We will send your payout via a paper check to your mailing address.

    Fees to receive a Paper Check: None.
    *Voided checks incur a fee of $25. 
    **Please note that the Artist is responsible for ensuring their address on file is correct. Once a check is sent, the Artist is responsible for all voided check fees. 

    All you need to be paid with a Paper Check is:

  • Your mailing address

  • Paxum 
    We will deposit your payout electronically to Paxum.

    Paxum is a global e-wallet payment service that allows its customers to send and receive money anywhere in the world.

    Fees to receive a Paxum payout: None.
    *Please note that Paxum has their own associated fees with transferring money to banks and making ATM withdrawals. Please visit Paxum.com for more information.

    All you need to be paid with Paxum is:

    • Your email address

Payout Methods for International Artists

International Artists have the following payout options:

  • Paxum 
    We will deposit your payout electronically to Paxum.

    Paxum is a global e-wallet payment service that allows its customers to send and receive money anywhere in the world.

    Fees to receive a Paxum payout: None.
    *Please note that Paxum has their own associated fees with transferring money to banks and making ATM withdrawals. Please visit Paxum.com for more information.

    All you need to be paid with Paxum is:

    • Your email address

  • US Bank Direct Deposit (ACH) [Express Pay U.S. Bank Account] 
    We will deposit your payout electronically to your US-based bank.

    Fees to receive a US Bank Direct Deposit (ACH): None.

    All you need to be paid with a Direct Deposit (ACH) is:

    • US Banking Information
           

  • International Wire Transfer [Express Pay] 
    We will deposit your payout electronically to your International bank.

    Fees to receive an International Wire Transfer:

    • Monthly, Bi-monthly & Request Pay payouts over $1,000: Free once per month. Additional wires in the month will have the same fees as wires below $1,000. 
      *Please note that your bank may charge fees for receiving a wire.
      **There is an $8 fee for Wires sent in USD. 

    • Monthly, Bi-monthly & Request Pay payouts under $1,000:
      *Please note that your bank may charge fees for receiving a wire.
      **There is an $8 fee for Wires sent in USD.

      • Foreign Currency Processing Fee: $20
        *Foreign Currency Wires use our bank’s currency exchange rate on the day the wire is sent.

      • USD Currency Processing Fee: $28

All you need to be paid with an International Wire Transfer is:

  • International Banking Information

  • Emailed Check 
    We will send your payout via an electronic Check to your email address.
    *Please note that your check will be in USD currency.
    **We recommend checking with your bank to confirm they will accept emailed checks. Some banks require that checks be printed on special check paper. 

    Fees to receive an Emailed Check: None.

    All you need to be paid with an Emailed Check is:

    • Your email address

We are able to send payouts in the following currencies:

  • AUD - AUSTRALIAN DOLLAR

  • BDT- TAKA

  • BGN - BULGARIAN LEV

  • BHD - BAHRAINI DINAR

  • CAD - CANADIAN DOLLAR

  • CHF - SWISS FRANC

  • CZK - CZECH KORUNA

  • DKK - DANISH KRONE

  • EUR - EURO

  • FJD - FIJI DOLLAR

  • GBP - POUND STERLING

  • HKD - HONG KONG DOLLAR

  • HRK - KUNA

  • HUF - FORINT

  • ILS - NEW ISRAELI SHEKEL

  • INR - INDIAN RUPEE

  • JOD - JORDANIAN DINAR

  • JPY - YEN

  • KWD - KUWAITI DINAR

  • LKR - SRI LANKA RUPEE

  • LTL - LITHUANIAN LITAS

  • LVL - LATVIAN LATS

  • MAD - MOROCCAN DIRHAM

  • MUR - MAURITIUS RUPEE

  • MXN - MEXICAN PESO

  • NAD - NAMIBIA DOLLAR

  • NOK - NORWEGIAN KRONE

  • NZD - NEW ZEALAND DOLLAR

  • OMR - RIAL OMANI

  • PHP - PHILIPPINE PESO

  • PKR - PAKISTAN RUPEE

  • PLN - ZLOTY

  • QAR - QATARI RIAL

  • RON - LEU

  • RUB - RUSSIAN RUBLE

  • SAR - SAUDI RIYAL

  • SEK - SWEDISH KRONA

  • SGD - SINGAPORE DOLLAR

  • THB - BAHT

  • TND - TUNISIAN DINAR

  • TRY - TURKISH LIRA

  • USD - US DOLLAR

  • ZAR - RAND

  • CNH - RENMINBI

  • AED - UAE DIRHAM

  • ZAR - RAND

  • CNH - RENMINBI

  • AED - UAE DIRHAM


Payout Frequencies & Minimum Requirements

iWantClips offers the following payout frequencies and minimums:

  • Bi-Monthly Payouts 
    Payouts are initiated 2 times per month.

    Minimum earnings amount: $50

    Minimum earnings amount for International Wire Transfers (Express Pay): $100

    Fees to receive a Bi-Monthly Payout: None

    Earnings periods:
    - 12th-26th
    - 27th-11th
    *Payouts are sent for processing on the 12th and 27th of each month and will be reviewed within 2 business days. Once a payout has been reviewed, it will arrive in your bank account within 6 business days.

  • Monthly Payouts 
    Payouts are initiated 1 time per month.

    Minimum earnings amount: $50

    Minimum earnings amount for International Wire Transfers (Express Pay): $100

    Fees to receive a Monthly Payout: None

    Earnings period:
    - 1st-Last day of the Month
    *Payouts are sent for processing on the 5th of each month and will be reviewed within 2 business days. If the 5th of the month falls on the weekend or USA Bank Holiday, the payout will be sent for processing on the following business day. Once a payout has been reviewed, it will arrive in your bank account within 6 business days.

  • Daily Payouts (US Stores Only)
    Payouts are initiated each business day (which excludes USA Bank Holidays and weekends).
    *Sales that occur over the weekend will be included in Monday’s payout.

    All daily pay earnings will be held for 1 week to ensure the funds have cleared merchant accounts and screened for fraud. The daily payout cycle is shown below:


Minimum earnings amount: $25

Fees to receive a Daily Payout: 5% reduction in payout rev-share.
*This fee must be charged to cover the higher administrative costs associated with initiating a potential payout each business day. 

There are 2 options to receive a Daily Payout:

    • Automatic Daily Pay: As soon as the $25 minimum is met, payout is initiated automatically each business day (which excludes USA Bank Holidays and weekends).

    • Manual Daily Pay: As soon as the $25 minimum is met, the Artist has the option to request a payout instead of automatically receiving one.
      *Requests must be made before 12AM EST and will be issued the following business day.
      **Requests made Friday-Sunday will show up within Monday’s payout.

  • Request Pay (International Stores Only)
    Payouts are manually initiated by Store Operators, in which they may request a payout any business day, Monday-Friday (which excludes USA Bank Holidays and weekends).
    *If a request is made during the weekend, the payout will show as Monday’s request.

    All request pay earnings will be held for 3 business days to ensure the funds have cleared merchant accounts and screened for fraud.
    *In some scenarios, to prevent possible fraud or chargebacks, payout requests in excess of $2,000 in a Store's first month, will be held for a longer period before issuance.

    The request pay button is shown below, as it is seen within an Artist’s payout page:




    Minimum earnings amount: $50 Paxum, $100 other payout methods

    Fees to receive Request Pay: 5% reduction in payout rev-share.
    *This fee must be charged to cover the higher administrative costs associated with initiating a potential payout each business day. 


How to Update Payout Information

Artists may set or update their payout method at any time within their Artist Dashboard by clicking on the “Account” tab. Within this section, click on the “Payout Information” button to view and edit your selected payout method.



Switching Between Payout Options

If you want to switch to a different payout option you can do so by going into your account and editing your payout information here. There are no penalties or fees for making changes.

PLEASE NOTE: Every 24 hours, all transactions that occur within your Store are logged and recorded (this happens daily at 12AM EST). If you switch to a daily or request payout option, which has a reduced revenue split, your earnings for the day will be affected.


Bank Holidays

The following are USA Bank Holidays in which payouts will not be processed.

  • New Year’s Day

  • Martin Luther King, Jr. Day

  • President's Day

  • Memorial Day

  • Independence Day

  • Labor Day

  • Columbus Day

  • Veterans Day

  • Thanksgiving Day

  • Christmas Day