What payment methods are available for leaders getting paid?
At this time, the only payment method available is PayPal. Leaders must link a PayPal account in order to withdraw the fees they are owed from Shrimpy. There are no other payment methods available.
Leaders can connect a PayPal account by navigating to the "Payment" tab in the Shrimpy "Settings". Once a PayPal account is linked, leaders can "Request Payout" as soon as funds are available.
When are leaders paid the fees they have accumulated from followers?
Both free and premium leaders can earn money. Free leaders earn $4 per follower per month. Premium leaders earn money based on the fee structure they have set up in Shrimpy (Performance and / or AUM fees).
Both free and premium leaders are paid on the first of each month. The funds will become available through Shrimpy where each leader can select to withdraw the funds to their PayPal account.
These funds are visible on the "Settings" tab under "Payment". There is a section for "Your commissions". This will display how much you are owed each month. Throughout the month you will accrue "Pending earnings". On the first of each month, those "Pending earnings" will get committed to the "Earnings" section where they can be withdrawn.
Any funds that are not withdrawn roll over each month. So, if you earned $25 one month and then $105 the next month, you would have $130 available for withdrawal if you didn't have time to withdraw the funds after the first month.
Note: It can take a moment to calculate and load the earnings, so if you don't see them load immediately, it could take a few seconds.
What is the minimum payment amount that a leader can withdraw from Shrimpy?
A leader must accumulate more than $20 in fees or referrals before they can withdraw the funds. Any funds that can’t be withdrawn will continue to roll over into the next month. No funds are lost if they aren’t withdrawn.
How To: withdraw referral or leader commissions
You are able to withdraw your Referral and Leader Commissions after they've been verified and added to your "Available Earnings". This happens on the first of each month. Pending Earnings cannot be withdrawn until they've been verified. Referral and Leader Commissions can only be withdrawn through PayPal, and we do not have an alternative payment method that can be used.
Once you've linked your PayPal account, you will be able to use the "Request Payout" button as shown below.
Once you've requested a Payout...
You will still need to login to PayPal and accept the funds that have been sent to you by Shrimpy. Your payment will not be visible in your account until you've accepted it.
Have questions, comments or concerns? Feel free to reach out to us via the blue "Support" button found in the bottom left corner of your Dashboard, or send an email to Support@Shrimpy.io.