- As the account holder, you are responsible for paying the banking fees. The wire transfer has a fix fee of 10 EUR/ USD (regardless of the amount) that the bank will deduct from the final amount you receive. Tip: set a higher minimum payout limit to save on transfer fees.
- We send wire transfers in EUR and USD currencies by default. You have to make sure that your bank account is able to receive the currency you choose when adding the wire transfer details in your settings.
- The minimum payout limit for wire transfer is: $300.
- Wire transfers usually take 3-5 business days depending on your location. in SEPA zone, it is the quickest.
To send your wire transfer payment, please make sure to fill out the following bank account details:
- Payee name: the person to whom money is being paid. This is the ‘account holder’ or ‘beneficiary’. Please enter only unaccented alphabetical letters here (A–Z or a–z.). The ‘Payeee name’ must be exactly the same as the owner of the bank account. Add the name of the Account Holder right, do not shorten the name in any way (e.g. If the Account holder is: Kate Smith Birmingham than add this name exactly and DO NOT shorten it like Kate S. Birmingham or K. Smith Birmingham, …)
- Account number: this row of numbers identifies your individual account.
- IBAN: = International Bank Account Number. Almost all banks in Europe provide an IBAN identifier for their accounts as well as nationally recognized identifiers. Contained within the IBAN is information about the receiving country, bank, branch and account number. The IBAN is up to 34 characters long and includes numbers and letters. To be sure that you add your IBAN properly, you can check it first on this site: Check IBAN / show more information. The following page also might be useful if you are not sure about your IBAN format: IBAN formats by country
- SWIFT/BIC code: = Society for Worldwide Interbank Financial Telecommunication). These codes are used when transferring money between banks, particularly for international wire transfers between banks. The SWIFT code is 8 or 11 characters and consits of numbers and letters (to check what type of characters a SWIFT code contains and to read more about SWIFT code click here). The SWIFT code can sometimes be found on account statements, if not then please call your bank and ask the SWIFT code from them (sometimes SWIFT code is called as BIC code = Bank Identifier Code too. The following page might be useful to find out your bank’s SWIFT/BIC code if you are not sure about that: online BIC/SWIFT code finder
- ABA/Routing number: (ABA = American Banking Association) Those who have their bank account outside the USA, the ABA / Routing number is not needed (in this case leave this field empty). The ABA routing number is a 9–digit number assigned to financial institutions by The American Bankers Association (ABA) to identify the financial institution upon which a payment was drawn.
Recommended wire (bank) transfer solutions
Some of you may have worked as a webcam model for longer. You surely remember the shocking news when one of the biggest payment platforms ePassport went down in September 2010. Many companies lost a lot of money and even more models and affiliates were left with no option to withdraw or spend their money.
Fast forward to May 2018, FirstChoicePay (and the Belize based Choice Bank) went down, again leaving many businesses and people without money. These events show, that if you want your money to be save (and why wouldn’t you?) you should keep it with an established financial institute. Storing your money on a virtual wallet, provided by a dubious company, registered on a Caribic island, with no bank guarantee isn’t exactly safe. It’s more like gambling or Russian-roulette.
What you need is a bank account, with a trustworthy Bank. You might say, that banks can also go bankrupt and you might be right. But the chance is much lower, that an established and prestigious bank would go down from one day to another. We, as a webcam platform must make sure, that we receive our money in time and can safely and legally move that money. You, as a webcam model must also make sure, that you can receive your money and that money is safely kept.
This is why we decided to offer a few tips on how to get paid safely and which companies we trust, when it comes to receiving payments.
The good old bank (bank account)
Having a bank account at a reputable, local bank is what we consider the safest. You can receive money in different currencies (at least in USD and EUR if you want), you can have a debit or credit card and you do not have to worry about losing your hard-earned money. Look around in your country, try to find the best deal. Remember, cheap is not always the best!
(Transfer) Wise
Wise is a London-based money transfer service. After registration, you get your own bank account number (IBAN) and can receive money in all major currencies like EUR, USD, GBP, CAD and many more. You can also get your own debit card that you can use at ATMs all over the world or pay directly in shops. They have a very transparent pricing scheme so you will not get and surprises in form of hidden costs. Wise is on the market since 2011 and are authorised by the FCA. This means, that they are controlled regularly by the authorities.
Sign up for Wise here: https://wise.com/invite/ie/ferencm170
Revolut
Revolut is also a UK fintech company, founded in 2015 with the headquarters in London. Their solution allows you to receive and send money quickly and safely. Revolut comes with a mobile app and a debit card. Opening an account is easy and only takes a few minutes. The mobile app offers you many options to handle your money: send to family and friends, exchange between currencies, view your spendings and a lot more.
Sign up for Revolut here: https://revolut.com/referral/?referral-code=ferencq5q6!AUG2-24-AR
N26
N26 is a fresh fintech company from Germany, offering a very intuitive mobile app to take control over your finances. You can order a debit card, that comes in 5 different colors and you can choose the one you like best. The account and card works with Apple Pay, so you can use it to pay directly from supported Apple phones. The paid accounts (You and Metal) come with basic travel insurances, up to 5 and 8 free withdrawals within the Euro zone and up to 10 sub-accounts.
Sign up for N26 here: https://n26.com/r/aronk2606