N.B: Signing up for a Payout account is only available if the company you are tutoring with has this feature enabled on their account.
What is a Payouts Account?
A Payouts Account allows you to be paid out automatically by the company you are working with. You sign up to an account with Stripe that's linked to TutorCruncher, and any payments made by clients will automatically split your compensation from the company's and send it to you.
How do I sign up for a Payouts Account with Stripe?
You can sign up for this by navigating to the Profile tab on their dashboard. From here, you'll be able to sign up on your profile under Payouts Account.
The next step is to choose the Sign Up Now tab, and this will redirect you to Stripe's sign up page.
Finally, you would need to review all of the details you have entered, just to make sure they are all correct.
It's important to note that you will have one Payouts account shared across all of your profiles with TutorCruncher.
How can I view my Payouts Account details?
If you want to view your Stripe account and see when the next payout is scheduled and how much is owed to you, then you can access this directly from your porofile. Under the Payouts Account section you can choose More Details.
From here, you will see your Stripe payout account ID, as well as the next payout that is due.
You can then choose View Account in Stripe and this will redirect you to Stripe's dashboard to view all of your earnings.
How and when do I receive funds into my bank account?
There are 3 stages to the process in receiving funds to your bank account.
Stage 1
The client pays for their service. The money will then transfer to your Stripe account in 7 calendar days.
Stage 2
The funds are in your Stripe account and will be automatically paid out at the next payout date. By default this is on the last day of each month, but you can change this by viewing your Payouts account in TutorCruncher.
You are also able to trigger a manual payout, which will transfer all available funds from your Stripe account. However, you are limited to doing this once per calendar month.
Stage 3
The funds are transferred to your bank account.
How can I trigger a manual payout?
You can request a manual payout once a month by heading to your profile and then clicking on View details option under Payouts Account. Here, there is an option to trigger a manual payout and receive funds into your bank account.
How can I change the automatic payout date?
You can change the day of the month Stripe automatically pays you by navigating to My Profile, then clicking View details under your Payouts Account panel, and then clicking Change Payout day. From there, you will be able to adjust the automatic payment date to one of your choosing.
How long does it take to receive funds into my bank account after initiating a manual payout?
Manual payouts can take up to 3 business days to get to your bank account.
Can I export my transaction history from my Stripe account?
You can indeed! When logged into your payouts account, choose the Transactions tab. From here, there is an option to export all of the transactions that have been processed and this will generate a CSV file that can be downloaded directly.
I have an international bank account, can I still sign up for a Stripe Payout account?
You can indeed! Just make sure that the address linked to your TutorCruncher profile matches that of the location of where your bank is located internationally.
How can I receive my funds into my international bank account?
If you have an international bank account linked to your Stripe Payout account, then you can only manually request a payout once a month. You will also incur a 1% Stripe conversion fee to exchange the branches currency to your own bank account. Details of this will be provided within your payout account when initiating the payout.