Royalty Update: November 2022

Royalties will be paid in Dollars (USD) from November 2022. Find out how this affects you

Joel avatar
Written by Joel
Updated over a week ago

From the next royalty payout date, we'll be paying artists in Dollars (USD). For the vast majority of our artists, this will mean a reduction in foreign exchange fees when requesting a payout. Here's how this will affect customers with bank accounts in the US, EU, and Rest of World:
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โ€‹I have a US bank account

  • You don't need to do anything.

  • After November 17th, all royalties added to your balance will be in Dollars (USD).

  • When you withdraw, you'll no longer need to pay a small foreign exchange fee to convert your royalties into Dollars

  • Any Euro balance in your account will be converted into Dollars at the going exchange rate on November 20th. We will cover the cost of the foreign exchange fees on your existing balance.

If you have an available balance, you can avoid paying foreign exchange fees by not withdrawing before November 20th.

I have an EU bank account

  • After November 17th, all royalties added to your balance will be in Dollars (USD).

  • When you withdraw, you'll pay a small foreign exchange fee to convert your royalties into Euros.

  • Any Euro balance in your account will be converted into Dollars at the going exchange rate on November 20th. We will cover the cost of the foreign exchange fees on your existing balance.

If you already have an available balance of โ‚ฌ25 or greater, we recommend withdrawing it before the 17th November to avoid foreign exchange fees. Please double check your bank account details are correct before withdrawing to avoid missing the deadline.

I have a non EU/US bank account

  • After November 17th, all royalties added to your balance will be in Dollars (USD).

  • When you withdraw, you'll continue to pay a small foreign exchange fee to convert your royalties into your native currency.

  • Any Euro balance in your account will be converted into Dollars at the going exchange rate on November 20th. We will cover the cost of the foreign exchange fees on your existing balance.

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