If you're new to this blog, here's a couple of links to other information I have prepared about chat moderation that may help you in your journey:
Chat Moderation: What is it, exactly?
Application Processing at Texting Factory: Non-Receipt of Email
Texting Factory payout once a week if you have earned more than 25 euros. This used to be 50 euros minimum in the past but has fortunately been lowered for our operators to receive salary more often.
Texting Factory has 2 payment methods available to receive a payout.
1. Direct to Bank Transfer
2. Bitsafe
Direct bank transfer seems to be very convenient for European bank accounts (SEPA banks as they call it) but for non-SEPA banks, every payout transfer will incur a fee that is 35 euro, ouch!
For this reason, most operators choose Bitsafe.
Update 09/26: Several new payment methods have been added to the list you can choose from which may suit your preference best. This blog only tackles Bitsafe and its payout process. For more info on other payment options, please see:
Direct bank transfer though is still an option, especially for operators who encounter issues getting their Bitsafe verified.
Note: We strongly suggest providing a reliable payment method when giving out payment information to Texting Factory for the first time as this is very crucial and will be readily saved on the system. This is also to avoid confusion and complications regarding your pay in the future.
I have discussed the Bitsafe account registration process from my blog here: Chat Moderation by Texting Factory Series Episode 1: Identification Card (ID) Required To Apply and Get Paid but really, the process is easy peasy.
Create an account here: Bitsafe Registration Portal
Then, make sure you verify your account using the IDs accepted.
I know I have been too repetitive when reminding you to always make sure to verify your Bitsafe account but this is truly important. About 90% of operators who complain about Texting Factory not paying them to turn out to have problems with their Bitsafe account.
Weird but true, been there done that myself.
You'll know your Bitsafe account is verified if your Bitsafe app does not have any message saying "Verify your ID". Normally, the verified Bitsafe app will only show that your account is in good standing.
I can't do much really on a Bitsafe app but I do all of the transfers and transaction checking from the Bitsafe website.
It seems to me that the Bitsafe app is only for security purposes making sure your account is attached to one phone and contact number.
I can't do much really on a Bitsafe app but I do all of the transfers and transaction checking from the Bitsafe website.
It seems to me that the Bitsafe app is only for security purposes making sure your account is attached to one phone and contact number.
So, your Bitsafe account is already created and verified. My pay is already reflected there but how do I get the money?
This is where Wise (new company name, previously knows as Transferwise in the past) comes in. Operators actually have two options, they can opt to transfer it to either Payoneer or Wise account.
Wise is known to have the highest exchange rate not only for European currency but also for US Dollars which is used by most freelancers across different skills.
Payoneer, on the other hand, has I believe bonuses when a certain transfer amount is made but I am quite unsure about this. This may have changed over time but this will now be your discretion if you wanted to go for this option. I'll be talking about Wise as this is what we have used.
Wise and Bitsafe are comparable to Paypal for they can be created easily using an email address and password.
You can create a Wise account here: Wise Registration Portal
They also have an app that is very convenient and user-friendly to use!
From the Wise app, you can transfer your money across all banks and electronic money accounts like G-Cash, Paymaya, etc.
Summary: Bitsafe is used so Texting Factory can pay us with as much minimal fee there is possible and we have Wise so we can transfer the money on our preferred Philippine bank accounts.
FEES INVOLVED:
Wise to Bank: Use Wise Calculator
So far, with Wise receiving €300 below I have been charged no more than € 4 so this had been very practical.
The first thing you need to remember is that when you transfer money from Bitsafe to Wise, you first have to transfer the money from Wise to your bank.
This honestly had confused me at first but you'll get used to it.
You have to set up the transfer for the exact amount you'll receive from Bitsafe directed to your bank account and Wise will wait for the money from Bitsafe to come in. That's how it will be like just a heads up, everyone.
STEP 1: SET UP TRANSFER FROM WISE TO BANK ACCOUNT
I know the money is still in your Bitsafe but we'll start with Wise.
From the app, set up the transfer going to your bank. Here's how - from the example account above, I received 96.50 euros from Texting Factory.
Now let's open the Wise app.
Next, make sure your currencies are set up to EUR and PHP. Enter the amount of money we will be receiving from Bitsafe so, I already deducted the 0.75 euro here so I got 95.75 euros. The 5499.04 exchange total is already deducted of the Wise app fee.
Then click Continue. Add a new recipient if this is your first time and has not made any transfer in the past. With mine, I already saved my bank details in there so it was much easier.
For this sample transfer, I chose Someone Else and entered their information such as name, address, and bank account details. Review the transfer and click Confirm.
Enter your Reason for Transfer, any would do. I don't think this matters that much.
Now, I choose Yes, I'm the account holder option since the Bitsafe account where my money is, is under my name. Some operators use another person's Bitsafe account so I am not really sure how they do it.
Then at the bottom of this screenshot, you will have the option to cancel the transfer or confirm that you have made the transfer. Even if you have not made the transfer on Bitsafe, you can already click on Yes I've made my transfer since we will be doing it in a bit anyway.
DON'T FORGET! Please take note of the IBAN that is 16 digits and is composed of letters and numbers. You will need this later on when you start setting up your transfer on Bitsafe.
And viola! This is your transfer tracker, you can check it on the app from time to time.
Now, let's set up the transfer from your Bitsafe to Wise!
STEP 2: SET UP TRANSFER FROM BITSAFE TO WISE ACCOUNT
In this step, our Wise 16 digit IBAN should be ready and Wise 9 digit membership number.
Choose Transfer Money.
Then choose SEPA Transfer. I already have a saved beneficiary in the below screenshot but you'll have the same as soon as we're able to complete the transfer.
Under Beneficiary Name, enter your 9 digit membership number followed by the word Transferwise.
Under Account Number in IBAN format, enter your 16 digit Wise IBAN.
Click on Save Beneficiary and enter your preferred beneficiary name. I put mine as MY TRANSFERWISE.
Enter the amount to be transferred which is 95.75 euro. We have already deducted and will leave the 0.75 euro on our Bitsafe account for the transfer fee.
Click Confirm and enter the 6 digits unique code sent by Bitsafe to your registered phone number to authorize the transfer.
Once confirmed, your balance will readily be deducted and on its way to Transferwise.
Did I miss anything on this blog? Let me know in the comments!
Texting Factory is one of the best chat moderation companies existing. It is a part of WebTech Interactive Media LTD. based in Apia, Samoa. They offer one of the highest rates in the industry and pay on a weekly basis. They are in continuous hiring and if you are willing to be a part of the team, you can apply here: https://tinyurl.com/textingfactory
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