Mylot payouts
@acoustic67scouser (220)
India
November 28, 2012 2:12am CST
Recently I joined into Mylot, and honestly it's a nice place to be in where I can get suggestions from others and also help some others in discussions.
Presently I'm a bit confused with the pay out system, I know it's the user's choice to set the minimum pay out balance, let's say $10. Now consider that, I've made $5 after that and got my payment. So, my question is,
- Will that pay out balance come to $0 after that payment?
- Will I have to again make another $10 to get my next payment?
- What will happen if I don't reach the minimum payout on 15th of each month?
1 person likes this
4 responses
@StLouisMetroTutoring (678)
• St. Peters, Missouri
28 Nov 12
I'm relatively new here also so I haven't received my first payout. However,, the way I think it works is you would get paid on the 15th of the month if you have at least the minimum amount in your account. You would then get paid everything in your account (this would include the extra $5 you made after reaching your minimum and before payday). Then your account would be reset at zero. If you don't reach the minimum before the 15th, the amount that's in your account will just roll-over to the next month. You don't lose anything.
I'm having fun here also. Really being encouraged to think about some things that I don't very often.
@acoustic67scouser (220)
• India
28 Nov 12
First of all, thank you for responding.
But I would like to ask you something-
you said the account would be reset to zero, does that mean they will pay you the whole money that was in your account(i.e, including the payout balance) or just the extra money that you made excluding the money that was set as the minimum pay out balance?
@angelsmummy (1696)
•
28 Nov 12
You will get paid the whole money in your account balance. Then you,start over. If you don't have $10 on payout day all your money goes forward to next month. read the faqs it's will help.
@owlwings (43910)
• Cambridge, England
28 Nov 12
There seems to be some confusion here.
What you are due to be paid is the amount you have earned by the last day of any month (assuming it is more than $10) not what is in your account on 'payday' (which is the 15th of the following month or before, when the MyLot logo turns green).
Usually, you will have earned something between the end of the month and 'payday', so your balance will never be zero.
@owlwings (43910)
• Cambridge, England
28 Nov 12
The 'cut off point' is the last day of any month and 'payment day' is on or before the 15th of the month following.
Let us say that someone has earned $12.46 by the last day of the month. That is the amount that they well receive on or before the 15th of the following month. In the mean time, however, they may have earned another $4, so their balance will show $16.46 just before payment is made and will reduce to $4 on 'payday'. That $4 will then be carried forward until they have again accumulated at least $10 by the last day in any month.
@acoustic67scouser (220)
• India
28 Nov 12
Yeah thanks for the information. I went through the FAQs and thanks for that detailed information about "cut off point" and "payment day" and trust me it was helpful.
@surekharathi (14146)
• India
28 Nov 12
No payment according to user choice you should earn minimum 10 dollar then automatic transfer in paypal. Puts your paypal address here. If not reach then carry forward means this money include in your next month earning and then transfer the money in paypal. May be next more than 10 dollar earning because some money from this month and some from next month.
@tarunisluckey (217)
• India
2 Dec 12
The minimum threshold to obtaing is $10. You can change the minimum threshold to $25,$50 and $100. Suppose if you have earned $11.30, you will get the full amount to your paypal. It doesn't mean to be exactly $10, you should have atleast $10. I think your doubt may now be vanished.
