As an artist, getting paid quickly for your work is essential. While PayPal is a popular payout method, it often involves an extra step that can delay access to your funds. Switching to a direct bank payout method can help you get your money faster. Here’s why.
The PayPal Process: An Extra Step
When you receive a payment via PayPal, the funds are deposited into your PayPal account. To access that money in your bank account—where you can spend or manage it—you need to manually withdraw the funds from PayPal to your bank. This withdrawal process can take time:
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Processing Time: PayPal typically takes 3–5 business days to process a standard withdrawal to your bank account.
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Additional Fees: Depending on your country and PayPal's policies, withdrawing funds may incur additional fees, reducing the amount you receive.
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Manual Effort: You have to log in to PayPal, initiate the transfer, and wait for it to complete, adding an extra task to your workflow.
These delays and steps mean your money isn't immediately available for use, which can be inconvenient, especially if you need funds quickly.
The Bank Payout Advantage: Direct and Fast
With a bank payout method, your earnings are sent directly to your bank account, bypassing the need for an intermediary like PayPal. Here's how this speeds things up:
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Direct Deposits: Payments are transferred straight to your bank account, so there's no need to initiate a separate withdrawal.
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Faster Access: Depending on your bank and region, funds from bank payouts are often available within 1–3 business days, and in some cases, even faster with same-day processing.
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Streamlined Process: Once set up, bank payouts are automatic, saving you the time and effort of managing withdrawals.
By eliminating the PayPal withdrawal step, bank payouts get your money to you more quickly and efficiently.
Why Make the Switch?
Switching to a bank payout method offers several benefits beyond faster access to funds:
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Reliability: Bank transfers are secure and directly integrated with your financial institution.
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Fewer Fees: In some cases, bank payouts have lower or no additional fees compared to PayPal withdrawals, especially for international artists.
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Simplicity: Your earnings go directly to your bank account, reducing the need to manage multiple platforms.
How to Switch to Bank Payouts
Ready to get paid faster? Updating your payout method is easy:
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Log in to your artist dashboard.
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Navigate to Settings > Payout Methods.
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Click "+ Add Payout Method" and enter your bank details (e.g., account number, routing number, or IBAN, depending on your region).
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Set your bank account as the default/active payout method.
Once configured, future payouts will go directly to your bank account, saving you time and hassle.
Considerations for International Artists
If you're based outside the US, note that PayPal may be ineligible for certain countries due to tax or regulatory requirements. In such cases, switching to a bank payout is not only faster but may also be necessary to ensure compliance and uninterrupted payments. Check your dashboard for any alerts about payout method eligibility.
Get Started Today
By switching from PayPal to a bank payout method, you can access your earnings faster, reduce manual steps, and simplify your financial workflow. Update your payout method now to enjoy these benefits with your next payment.