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PAYOUT GUIDELINES FOR SERVICE MEMBERS ON VIBRNZ

Here you will find the Payout Guidelines for service members who sell their services on Vibrnz and who are either US citizens or foreign persons residing outside the US. 

If you are a US citizen and selling your services on Vibrnz, here is how your payouts will work:
 
With Stripe: You need to link your Stripe account to your Vibrnz account. If you do not have a Stripe account, you can create one by going to payment settings (in account settings on the dashboard). You will receive the payout each time a transaction takes place on your account, based on the Stripe settings which is typically 7 – 14 days. To know more about Stripe and the payout timeline, click here.
If you need assistance, please email us at info@vibrnz.com.
 
Fees:
Fees charged to you (Seller): A % commission of the total sales proceeds. % would vary based on the product.  
Service fees charged to the buyer: Includes Vibrnz service fees and Stripe payment processing fees (currently 2.9% plus 30 cents). The service fees is added to the listing price at the time of the transaction.
If you are a foreign person residing outside the US, and selling your services on Vibrnz, this is how the payments work.
 
1. For international payments, we will require an IRS form W-8BEN (for individuals) to be completely filled and returned to us. The W-8BEN is an IRS form that helps you claim either an exemption or a lower rate of witholding as per the tax treaty between US and your country of residence. (Form W-8BEN-E incase of entities)
 
2. Withholding of tax would be based as per publication 515 from IRS as per which a foreign person is subject to US tax on his or her US source income with respect to services.
 
3. Vibrnz will withhold 30% of the payments unless a completed W-8BEN form is on file.
 
4. Once you complete the form, you can submit it here. Once submitted, the form is valid for 3 years from the date of submission.
 
5. Specifically for service members residing in India who do not have a permanent establishment in the US (as per section 5 of the US India Tax Treaty) can claim exemption from withholding if Vibrnz has your completed W-8BEN form on file. In most cases we will not be withholding any payments for tax purposes.
 
6. Fees (if applicable):
Vibrnz Fees charged to you (Seller): A % of the total sales proceeds depending on the product.
Service fees charged to the buyer: Includes Vibrnz service fees and Stripe payment processing fees (currently 2.9% plus 30 cents). The service fees is added to the listing price at the time of the transaction.
 
7. How payments to international service providers will work? 
 
Payouts via Stripe
- All the proceeds from the transactions on your account will be collected by Vibrnz via Stripe. 
- Vibrnz will receive the proceeds from Stripe in US$ based on its payment schedule which is typically 7 to 14 days. Click here to know more.
- Within a reasonable period of receiving payments from Stripe, Vibrnz will transfer the money to the seller/service member via a global payment platform. You might have to create an account with the payment platforms to receive the payouts.
-Final proceeds to seller/service member will be net of Vibrnz fees, foreign exchange fees and fees charged by the above mentioned payment platforms. 
International (Direct) Payouts
-Vibrnz will use a global payment platform for international payouts.
 

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