So, you’re making sales with Chip - congratulations! Before you request a payout for your print-on-demand or dropship business, there are some important steps to follow in our fast, simple, and secure payment process. To avoid any delays in receiving your money, make sure you follow our step-by-step instructions below.
First thing first, link a verified PayPal account to your payment details. This is a mandatory step for all Chip sellers. Go to Accounts & Settings > Payment Info > Fill out your PayPal account information.
Note: Please contact us at email@example.com if PayPal is restricted in your country of residence.
On the same Settings page, open the dropdown menu under Payout Preference and select your preferred account to receive funds. Fill out the necessary information or link your account, then click Save Changes.
Chip offers three payment options to withdraw your profit. See the table below for the transaction fees and processing times per each method.
|PayPal||No charge||1-3 business days|
|Payoneer||$3 per each transaction||1-3 business days|
|Wire transfer (Bank transfer)||$25 per each transaction||3-5 business days|
Go to Profit in your dashboard and click on the “Withdraw funds” button. Enter the amount you would like to withdraw.
Once you click submit, a confirmation email will be sent to the email associated with your Chip account. You will need to confirm the payout request as the final step for a payout to be processed.
And there you go! Your money is on its way.
Seller payouts for Dropship products will follow Chip’s regular payout process. However, for Dropship, Chip will hold profit assignment until we’ve received a tracking code from the supplier. Once that’s received, profit assignment will run immediately after. This can take a few days after the customer’s order is received by the supplier.
After importing a product, Chip displays each variant's estimated profits on the Product Details page. Estimated profit is based on the current variant cost, variant price, and an estimation of the transaction fee. The actual profit is calculated using the following formula:
Seller's actual profit = Product price - Transaction fee - Product cost - Seller discounts
where Transaction fee = Total cart cost (including shipping and tax, if applicable) x Transaction rate (%)
With international shipping, shipping costs will vary more across countries, so sellers should expect more discrepancies between the estimated profit and actual profit.
If you’re looking for a way to access your funds sooner, check out the Chip Card. With this handy card, you can reinvest your profits and, in just a few minutes, you’ll have funds to use for your marketing campaigns.
Here’s what you need to know: