Studypool makes getting paid easy for tutors. Payment transactions are made via Paypal or Transferwise. Studypool usually take 1-3 business days to process a withdrawal. Once sent to Paypal or Transferwise, payments can take up to 5-7 business days to clear.
Please note that balances withdrawn after 4:00am GMT on Friday will be processed by Studypool but not sent until the next Monday (or the following business day if Monday is a holiday).
Outstanding refunds are for questions that have been refunded after the Pending Balance has been transferred to your Balance. We deduct outstanding refunds when you withdrawal your earning. Like all refunds, outstanding refunds are approved when tutors work is deemed not satisfactory by the Studypool Team.
PayPal is an online company that facilitates payments through online funds transfers. PayPal allows users to connect their checking account or credit cards through their account. Studypool withholds a 3.5% transaction fee for PayPal from each transaction.
Transferwise is an online money transferring process that enables international transfers much more cheaply than going through a bank. Instead of using one large international transaction, Transferwise uses two local transactions in order to keep prices down. There are also benefits in using Transferwise due to the fact that they use real time currency exchange rates, giving you the best value for your money. Transferwise charges a conversion fee of up to 3.5% for each transaction.
Payoneer is a cross-border payment platform that allows recipients to withdraw money in their local currency to their bank account. Fees vary depending on the country but are generally around 2%. Payoneer also has an option to withdraw funds to a prepaid Mastercard, which can be used at an ATM, in stores, and online wherever Mastercard is accepted.
With Western Union, you are able to send money from your Studypool balance to your bank account via direct deposit. Because of flat fees, Western Union is cost beneficial for transfers of higher amounts.
Studypool has a lower commission rate than other tutoring platforms. Our commission rates range from 15% - 32.5%. Read more about commission rates here.