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The current PayPal-only payout system is highly disadvantageous for music producers for several reasons:
PayPal charges substantial transaction fees on every beat sale
PayPal forces currency conversion at their own unfavorable exchange rates
Producers lose a significant portion of their earnings just on fees and currency conversion
Many producers across various Reddit forums and social media platforms frequently express their frustration with BeatStars' PayPal-only payout system. This limitation has actually caused numerous talented producers to abandon the platform entirely. The widespread dislike of PayPal's policies and fees is a common theme in producer communities.I propose implementing direct bank transfer options, including modern payment services like Wise or Revolut. This would:
Significantly reduce transaction costs
Allow producers to choose when and how to convert their currencies
Provide a faster and more transparent payout process
This change would greatly improve the experience for music producers using the BeatStars platform and allow them to retain more of their hard-earned money. Adding alternative payment methods could also attract back many producers who left the platform due to PayPal issues, ultimately strengthening the BeatStars community and marketplace.
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Investigating/Discovering Solutions
agree. as a music producer living outside US, it's actually very depressing to keep using paypal. Please BeatStars provide better payout options. Wise, Stripe, Payoneer, direct bank account are some of the best alternates to paypal. Learn payout system from Fiverr, they are doing great job with payout
Thank you for reaching out with your suggestions and feedback.
We completely agree that expanding payment options on our platform is essential. That’s why we are actively investigating and exploring potential solutions to address this as one of our top priorities.
We also understand the community's frustration with the current limitations in payment flexibility. However, it’s crucial that any solution we implement ensures the highest level of security and protection for our community.
Thank you again for sharing your thoughts with us, we truly value your input!