Payment Methods

[willx]

I'm wondering what payment methods performers are using on Streamate.
I am from Canada and recently had to change out the direct wire transfer deposit option from Worldpay since they are now unable to process Streamate payments to performers for whatever reason.

I am now registered with MassPay as per Streamate's recommendation and although it's an instant turnaround to get my earnings, I'm extremely disappointed.
Although there is only a $4 fee per transaction (vs the previous $25 fee from Streamate), the exchange rate from USD to CAD is completely ridiculous and inaccurate no matter how many times I refresh the payment transaction.
Depending on the amount I'm transferring, I lose anywhere from $100-$200+ on my earnings, plus the $4 transaction fee.

I contacted MassPay and they gave me zero explanation for why their exchange rate is inaccurate other than to keep refreshing for a better rate that never seems to be offered and does absolutely nothing in giving anywhere near the correct rate.
For example, in Canada currently 1 USD = 1.27 CAD whereas the rate given by MassPay is ALWAYS between 1 USD = 1.21/1.22/1.23 CAD at most which is a HUGE loss the more your earnings are and really unfair considering the % Streamate already takes. How many hits do I really have to take?? Just becoming really frustrating after months of lost income for no reason and no explanation from MassPay.

What is everyone else's experience with the payment methods? Is there is a better alternative in terms of getting an accurate exchange rate from one of the other options before I start trying each one and having to wait for the approval from Streamate.
Please let me know - keeping in mind I am in Canada so it must be compatible with converting my earnings from USD to CAD bank.
Appreciate any feedback, thank you!!

 

[LydiaFrost]

A few months ago MP had serious issues sending payment to EU and UK performers, more or less overnight they encountered an issue with the payment processors. As far as I am aware they have never been able to reinstate their services to these countries. Quite a few performers felt they had been literally dropped in it, and felt at that point unsupported. This was after SM recommended MP when they dropped direct wire transfer to the EU & UK.

This is so weird, i get masspay with boleyn models and i can get sepa to EU bank details.

 

[RuthStrawberryblonde]

This is so weird, i get masspay with boleyn models and i can get sepa to EU bank details.

At various points MP did reinstate the facility but it required an set of codes most people couldn't find, they wanted something in addition to IBAN/BIC codes that just wasn't possible to find. I tried with a variety of suggestions but most were giving up as did I. Might now be possible but it was a mess for at least 3 weeks without any assistance. SM withdrew performers money so they could use a different payout method.

 

[Sashacurves]

Hi all - I'm in UK and have been using Paxum for SM payments but now Paxum's "banking partner" is rejecting payments to my bank when I try to withdraw. What is my next best option please?

Thanks

Same, I think we just have to wait for them to get it fixed. I emailed Paxum support and they said it may take up to 5 business days.

 

[SensualJade]

I emailed support with something like "I'm Canadian but have a US bank account. Can I get paid via ACH?" And they forwarded it to accounting and they enabled it!

You might have to fill out a W-8 form to say you pay taxes in Canada. I'm not sure if OF will let you do that, I still have "bank transfer" to my CAD account with them.

I second this. There are more loopholes to jump through as a Canadian model. Just please make sure you actually open up a US soil account rather than a Canadian account in US dollars! It's a stupid mistake i made the first time. So I would just call the bank to make sure.