Why is Insight Timer enhancing the payment platform?
This new system will give you more flexibility in how you receive your income and help us manage payments smoothly as we continue to grow.
Who is Tipalti?
Tipalti is a global leader in payment automation, trusted by companies worldwide to manage and process payments efficiently.
What benefits will I receive with the new payment platform?
- The ability to select from multiple payment methods
- Competitive Foreign Exchange Rates
What are the available payment methods?
In addition to PayPal, we will be able to offer the following payment methods:
- Direct bank deposits via ACH for U.S. teachers
- Local bank transfer/ eCheck /Global ACH for non-US teachers
- Paper checks
- US Domestic wire transfers
- International wire transfers
When will the new payment system be implemented?
We will be progressively switching teachers to the new system in the coming weeks. Teachers will receive an email with instructions on how to add payment details via their teacher dashboard.
From May 2025, all payments will be processed using the new system. You’ll need to update your details to ensure you continue to receive payouts as normal.
What information do I need to provide to update my payment method?
- Contact details: Full name (first name, middle name, and last name), address, email, and phone number
- Payment details: For your preferred payment method
- Tax forms: These will be required once your earnings in a calendar year reach $600 USD.
Where do I enter my payment information?
You will be able to update your payment details in the Payment settings tab of your Teacher Dashboard.
When do I need to submit tax forms?
US Teachers: A digital W9 form will need to be submitted via the secure Tipalti portal on the Teacher Dashboard. Teachers who anticipate $600 USD in total earnings for the year should submit this form by April 30 to ensure uninterrupted payments.
Non-US Teachers: Submit a Non-U.S. Declaration form through the Tipalti portal before your total earnings reach $600 USD in the calendar year.
What happens if I don’t submit a tax form?
If your total earnings cross $600 USD and your tax form hasn’t been submitted, any payment that pushes you over the threshold, including that specific paycheck, won’t be processed until the form is completed.
For example, if you’ve earned $550 USD so far and your next payout is $60 USD, that payment will be held until your tax form is submitted.
Will my tax information be stored with Insight Timer?
No, this will be collected and stored securely with Tipalti. Tipalti will not have access to view this data.
Why do I have to submit tax forms?
The IRS requires that tax forms be submitted when earnings are $600 USD or over.
When do I need to update my payment information?
As soon as you receive an email invitation, please update your contact details, payment method, and tax form (if applicable).
I’m happy with PayPal. Do I still need to update my details?
Yes. Even if you plan to continue using PayPal, you must update your payment details in the new system to ensure you receive payments from April 2025 (paid in May 2025).
Who pays the transaction fees?
Transaction fees are deducted from your earnings before payout. These are set by Tipalti, our payment provider, and vary depending on the payment method you choose.
How much are the transaction fees?
Fees vary by payment method. Be sure to double-check your payment information to avoid delays or extra fees if a transaction fails due to incorrect information.
If your earnings don’t meet the minimum threshold (see the "Threshold (USD)" column below) in a given month, your funds will automatically roll over until you reach the required amount or update your payment method.
Payment Method | Details | Fees (Per transaction, USD) | Threshold (USD) |
|---|---|---|---|
| Paypal (US) | Paypal to a US account | $1 Tipalti Fee + 2% (Up to $2 in total) | $10 |
| Paypal (Non-US) | Paypal to a non-US account | $1 Tipalti Fee + 2% (Up to $21 in total) | $10 |
| ACH (US) | Local bank transfer in the US in USD | $1 | $10 |
| Global ACH/ eCheck | Local bank transfer/Global International ACH, also known as eCheck | $7 | $50 |
| Paper check | Check price includes printing, mailing, and check clearing | $1.99 | $10 |
| Wire USD Domestic | Wire transfer USD to USD, U.S. Payee Account | $15 | $50 |
| Wire - International USD to Local Currency | Non-USD Wire transfer | $20 | $50 |
| Wire - International USD to USD | Wire transfer USD to USD, International Payee account (where local currency is not available) | $26 | $50 |
Foreign Exchange Fees
Foreign exchange fees depend on the country, payment amount, and exchange rate. These typically range from 1.5%–3%, which is lower than PayPal’s usual 3%–4% currency conversion rates.
What happens if I enter the wrong bank details and the payment is rejected?
A rejection fee in USD will be charged to you by Tipalti, and this will vary depending on the payment method; see below:
- US ACH - $11
- Global ACH / International ACH/ eCheck - $25
- Wire transfers - $25
Your bank may also charge a return fee in addition to the rejection fee if the payment details are not correct.
What happens if I don’t update my payment details?
If you don’t update your payment details, we won’t be able to process your payments, and you may incur additional fees.
Important notes:
Payment processors may charge a fee for any failed payments due to incorrect banking information. Please ensure your banking information is correct and the name you entered in Tipalti matches the name on your Bank Account and Tax Form to avoid incurring any fees. Please note that your bank can charge additional fees.
What if I live in a sanctioned country?
Due to international sanctions, we’re currently unable to process payments in certain countries. Your earnings will be held until we can resume processing.
Which method should I use if PayPal is restricted in my region?
If PayPal is unavailable in your region, you can select from one of the other payment options; these will automatically be shown according to your region.
Who can I contact if I have additional questions?
If you have any further questions or need assistance, please reach out to [email protected], and our team will be happy to help.