When do you get paid on onlyfans

OnlyFans has ranked itself as the top social networking platform where the best content creation groundwork gets rewarded with money paid by fans.

Although many people use this platform to sell adult content, it is possible for all to make money on the OnlyFans website if they have useful content to offer.

Thus, if you want to learn how to cash out on OnlyFans, then we have come to your rescue.

This article will tell you all the info you need about:

• How to cash out on OnlyFans;
• What to know before you withdraw money from OnlyFans accounts;
• How to receive money on your bank from OnlyFans.

Table Of Contents

• How Does OnlyFans Pay You? Payout Explained
  • How Do Fans Pay You On OnlyFans?
  • How Long Does It Take for Onlyfans to Pay You?
  • What’s the Minimum Withdrawal Amount on OnlyFans?
• How to Withdraw Money From Onlyfans
  • Step 1: Log In to Your OnlyFans Account
  • Step 2: Go to Statements and Select Withdraw Current Balance
  • Step 3: Start a Bank Account Transfer and Wait for the Funds to Arrive
• FAQ
  • Do You Need to Pay Taxes from OnlyFans?

How Does OnlyFans Pay You? Payout Explained

OnlyFans has paid billion dollars to adult content and other creators throughout the year.

They have improved their payment systems so they can appeal to larger audiences over the world.

The first thing that you must know is that OnlyFans takes money from creators.

They take 20% to cover referral payments on the website, which means that OnlyFans creators get 80% of what they earn.

Making money through this online platform is more than possible, but how do you withdraw it?

It’s time for us to explain how OnlyFans withdrawals to bank accounts work.

How Do Fans Pay You On OnlyFans?

Fans acquire a paid subscription to access exclusive pay-per-view content on OnlyFans profiles.

Although some people opt to have a free account at the beginning, it is possible to make handsome money once you have a well-established fan base.

Consequently, creators earn money by charging a monthly subscription fee, which kind of works like having your own business.

It is also possible to get tipped on OnlyFans, but as we mentioned before, you will receive 80% out of all these creators’ earnings.

How Long Does It Take for Onlyfans to Pay You?

Depending on the country you live in, and the payment modes you choose, payments can take between 1 and 5 business days.

There are different ways to get OnlyFans payments, such as the following:

1. Direct transfer to US, European, or UK Bank - takes 1 business day on average;
2. e-Payment wallet for Canada, USA, and Europe - 1 to 2 business days;
3. International bank transfer for Australia and other countries - from 2 to 3 business days;
4. International SWIFT banking system transfers - from 3 to 5 business days (creators outside USA, Europe, and Australia).

What’s the Minimum Withdrawal Amount on OnlyFans?

The minimum amount that can be withdrawn on OnlyFans depends on the method you choose.

As we can see, this minimum threshold to withdraw from OnlyFans varies like this:

1. For direct transfers, the minimum withdrawal amount is $20 regardless of the method you choose;
2. E-wallets have a minimum withdrawal amount of $100;
3. Swift payments have minimal amounts of from $200 to $500, which means that your pending balance must be higher than normal if you live outside Europe or the USA if you want to receive money in your bank account.

As you can see, OnlyFans lets creators receive their hard-earned money directly in a bank account.

Nonetheless, Visa direct transfers and payments to popular financial apps, such as PayPal (outside the United States), Venmo, and so on, are not possible.

How to Withdraw Money From Onlyfans

When you sign up to OnlyFans as a creator, you are asked to verify your identity.

This KYC process asks for all of your information, including personal info, address, and more.

In order to complete this process, it is utterly important to verify and add your bank account.

You cannot start a career using an OnlyFans account as a creator if you don’t previously verify your bank.

Thus, if you are looking to withdraw your balance, it means that your creator profile is verified and ready to withdraw.

Without further ado, let’s learn how to withdraw money from your OnlyFans account right away.

Step 1: Log In to Your OnlyFans Account

Firstly, log in to your account on the OnlyFans site. Once you do it, click on the settings icon at the right corner of the home screen, and proceed.

Step 2: Go to Statements and Select Withdraw Current Balance

Here, on the settings menu, select Statements. You will see your creator’s pending balance and current balance earned through the month.

You need to make sure that the money you have on your account matches the minimum threshold imposed by OnlyFans.

Otherwise, it will appear gray and you won’t be able to withdraw it.

Click on your balance, and select start bank transfer.

Step 3: Start a Bank Account Transfer and Wait for the Funds to Arrive

There are two methods to start a payout request: manual payment and automatic recurring payment.

A manual transfer takes place when you manually decide the amount of money you want to move towards your bank.

On the other hand, automatic recurring payments will automatically move the money from OnlyFans to your account every time you have enough money on it.

You can select the one that suits your needs the most - either way, the money will be transferred.

Wait for the funds to arrive into your account, and enjoy the results of your work!

Remember that OnlyFans will take 20% of your total earnings, and there might be some fees related to your payment method.

Launch Kit has more OnlyFans guides for you - check them out if you have a chance!

FAQ

Do You Need to Pay Taxes from OnlyFans?

Yes - creators need to declare their income taxes for annual earnings on OnlyFans, depending on the country they live in. That’s why OnlyFans issues a Pay Tax Form at the end of the year. Many creators do not save enough to pay taxes and end up receiving a massive tax bill at the end of the year, so it is utterly important to have this in mind.