When and how much will I get paid? How do payouts work?
You'll see a new charge on your Stripe account as soon as your mentee pays. Stripe will generally process your payout within 7 days. Some countries profit from accelerated payouts (3 days) and even instant payouts.
On your profile, you'll generally see the breakdown of fees that were charged from your mentee, not only your payout amount.
Let's assume you charge $100 per month. A charge may look like this.
|Paid by mentee||$120|
Bank Transfer (via Borderless)
If your payment comes to you through direct bank transfer (not Stripe Connect), you'll get a payout receipt once per month with all transactions from the previous month. How the numbers come together is influenced by a few different things:
- Successfully charged payments
- Along the way, the credit card processor takes a fee (2-3% of the payment)
- Currency conversions can influence payments to some degree
- The platform fee we take (is applied on top of the price you set)
For example, if you've set your price to $120 per month, then your public price that mentees pay may be $140 per month. Then, your payout might look as follows:
|Paid by mentee||$140|
|Credit card fee||-$4.40|
|On receipt (before bank fees)||$115.60|
You can see the schedule of your next payout on the payouts dashboard.
Our invoice shows the payout amount before bank fees. Borderless is likely to take another cut that's depending on payout amount and country. Usually 2% – but with a minimum between $4 to $8.