Important: Accounting information for designers
Discussion started by eduardas
Hello everyone,
I wanted to let you know about a few tweaks and updates that you will See as of Jan 2nd, 2017, regarding payment processing and refunds on CGTrader.
Additional information on delayed payouts:
Starting February, every seller will see more information regarding payout status, which should help understand and react (contact support for misunderstanding, provide additional information, etc., if needed) faster.
Payout Processing Fee Calculation:
The payout processing fees are calculated each month - after the payment is made. These fees will show up in each designer's payment information. The Payout Processing fee are different for each Wire, Paypal and Webmoney:
Webmoney: A money transfer to Webmoney system is processed through Paysera and costs €0.29 (approximately $0.31 based on exchange rate as on Dec 30, 2016). Also, a standard 0.8% Webmoney fee (calculated from the total payout fee) is applied. More details can be found here.
Wire: A money transfer to your Wire account is processed through Paysera and costs from €3.25 to €10.00 depending on the country of your bank. More details can be found here.
Paypal: A money transfer to your Paypal account it processed through Paypal Mass Payments. The fee of 2% of total payout sum, but capped to$1.00 per payment, is applied for payments to recipients within the U.S. For Mass Payments to recipients outside the U.S., the fee is 2% of total payout sum - up to a maximum of $20.00 per payment, or the foreign currency equivalent to $20.00.
The payout processing fee for a term will be deducted from the payout made the following term. This means that payout processing fee is accounted for with one month delay: fee is initially covered by CGTrader, but deducted from a seller’s next payout. This enables fully transparent and precise accounting system.
Refunds:
In the rare cases of refunds being made several months after the initial purchase, the refunded amount will be deducted from the designer’s upcoming payout. These cases include but are not limited to fraud detection and banking system processes causing the delay in solving the requests. For example, should the refund happen from the order that has been made in October, the designer’s payout in the following month (in this case, January) will be reduced by the amount of money refunded to the client.
The information about these refunds will also be shown in designer’s dashboard. The refund information (payment refund date, price and refund reason) will be displayed in payment information.
Answers
0
The question i have... regarding refunds. Is there a plan to notify designers immmediately of issues with products or do designers not know until the refund occurs? As it happened once to me that during upload to cgt, it appeared some files corrupted and the customer ended up without them. The fix was simple. Re-upload. Everyone was happy. So in this case, being notified very quickly that there was a problem, was a benefit for all.
1
Hi there,
The designers are always notified if the buyer is OK with waiting for the fix (not asking for instant refund). Our team is always trying to solve these cases, either by giving a helping hand or contacting the designer before the refund is done.
Most of the refunds, however, are chargeback or paypal disputes - which is usually out of our hands, as when the chargebacks occur, the payments are refunded from our accounts. In this case, sending another email to the designer will not really work as a quick fix.
1
Hi,
CGTrader had a privilege from Paypal that allowed not to process these payout fees until now. That privilege has run its course and now the payout fees do have to be processed. Also, since they are calculated when the payouts are being made, the payout processing fees are deducted from the following month's payment.
I see, so it's paypal became more greedy, not cgtrader :] Thanks for explanation.
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