Until June 2021, Brandpa paid most of our sellers and designers via Wise (formerly known as “Transferwise”).
Wise have made changes to their terms which mean this is no longer possible.
Because of this, we have had to introduce temporary measures to pay all of our sellers from our UK bank account. For people in the UK this is straightforward, but for everyone else the fastest way to be paid is to open their own GBP account with Wise, or Revolut, or an equivalent provider.
Does this change how much I receive?
No. Brandpa cover the cost of all fees and currency exchange, and have very slightly increased the amount we pay all of our sellers, to compensate for any fluctuations which might otherwise impact your earnings.
Protecting our sellers is our top priority. These changes are all at a cost to Brandpa.
Does this change how fast I receive payment?
Not once you have opened your account. One of the main advantages of this approach is we can make instantaneous payments to UK accounts.
How to set up an account
This is a free process, although in very rare circumstances you may be asked to make an opening deposit of around £20 GBP. This is to verify your identity, and is not a fee – the money they are asking for will be in your account, and you can withdraw it, together with the money that Brandpa will be paying you.
Read this article to learn more about how to set up a GBP account with Wise.
What if I can’t open a GBP account?
Please contact us, and we will make alternative arrangements to pay you. We can still make international payments, but they may be some additional fees, and they will tend to be slower.
What about sales that are in progress, e.g. instalment plans?
We will make all payouts via the new process.
What happens long term?
The changes above are not permanent, but we don’t currently know how long it will take us to replace our payouts system.
International transfers are complicated, and we have to support almost every country in the world. We also used to automate this process, thereby ensuring that transfers were fast and reliable. This includes capturing your payment details, complying with international regulations, invoicing, and so on.
Once we have a replacement system, or we’re close to launching one, we’ll notify all of our sellers.