What You Need to Know About Payments on OnlyFans

Creators post their content on OnlyFans because of the unlimited earning potential the platform provides. While OF makes it fairly simple to withdraw payments, it is important to be informed of the process so you can post, share, and engage confidently. Get paid smoothly with this crash course on OnlyFans payments.

Setting Up Your Payment Method

The first and most important step to facilitate a smooth payment process on OnlyFans is setting up your account. There are several withdrawal options, but the most popular are direct deposits to a bank account or e-wallet. Make sure that you input your account details correctly and follow the instructions for verification. To protect against identity fraud, OnlyFans will ask for a picture of your photo ID. They may request additional information, so keep an eye out for any emails from the OF customer support team.

Understanding Withdrawal Criteria

OnlyFans allows creators to withdraw their earnings as many times as they want. However, your wallet must have a minimum balance of $20. The platform only operates in US dollars (USD), so keep that in mind if you are converting to another currency. You cannot withdraw less than $20. OnlyFans justifies this limit as a way to protect creators against fraud, and it also helps cut down on processing fees.

When you earn money on OnlyFans – whether through subscription fees or content purchases – there is a brief holding period. You will notice your earnings will be listed as pending for up to ten business days. Once that processing time has ended, the funds will be transferred to your OnlyFans creator wallet. Then, that money is eligible for withdrawal (as long as it is over $20).

There is also an option to set up automatic withdrawals so you can get payments sent directly to your account without having to do any extra work. 

OnlyFans Platform Fees

It is free to set up your OnlyFans account. The platform makes money by keeping a percentage of all creator earnings. The commission fee is 20%. This charge is automatically withheld before your earnings are transferred to your wallet. You do not have to worry about paying the fees yourself. 

While it can be frustrating to lose some of your income to platform fees, that is the cost of doing business on a fan site. The commission money is used to offset the cost of maintaining the platform, with a good chunk of the money going towards privacy, security, and customer service.

OnlyFans Payments Terms and Conditions

The main rule to remember with OnlyFans payments is that all transactions related to your content need to be processed through the platform. A mistake many creators make is accepting money through another app like Cash App, PayPal, or Venmo. If you sell exclusives or cam girl services, you will have to fulfill that request off of OnlyFans. That is okay, but you need to make sure the transaction still goes through OnlyFans. If the platform learns that you are promoting services on OF but taking money directly from subs, your profile will be banned. The only way OnlyFans makes money is through their platform fees, so any violation of that policy is not tolerated.

Troubleshooting Common OnlyFans Payment Issues

For the most part, creators don’t have issues requesting withdrawals and receiving their money from OnlyFans. If you encounter a problem, it is likely easily remedied by following these steps. 

Your Withdrawal Was Denied

If you request a withdrawal from OnlyFans and it is denied, there are two main reasons. The first is that your account is suspended, banned, or inactive. If you learn that it is the problem, you need to contact customer service to reactivate your account. The second most common reason is that your balance is below the minimum withdrawal amount of $20. 

Your Withdrawal Was Processed, But You Don’t See the Money in Your Account

OnlyFans states that withdrawals to a bank account are processed the fastest. However, it is normal to have to wait several business days to get your money. If more than seven business days have passed and you still don’t have your money, contact customer service right away. There could have been a glitch with the payment system, or they may need additional verification from you, especially if it is your first time withdrawing your creator funds. 

It is also important to note that the payment will show up in your account as “Fenix International Limited.” So, if you are looking for a deposit from OnlyFans, that might be why it seems like you are missing money!

You Received Less Money Than You Expected

If you process a manual withdrawal, you will get the exact amount of money requested. However, if your profile is set to automatic withdrawals, the deposit amount will vary based on how much money was in your creator wallet. When creators first start earning on OF, they often forget about the platform fees. Remember, your earnings will always be 20% less than the total transactions processed through your page. 

OnlyFans Payments Tips and Tricks

Overall, OnlyFans has a very intuitive payment processing system. Check out these helpful tips to take the stress out of earning and guarantee you are getting paid smoothly!

USD – OnlyFans operates in US dollars only.

Taxes – OnlyFans does not reserve income taxes. You will need to file as an independent contractor and pay your tax bill directly. Consider setting up a savings account just for taxes so you aren’t scrambling to pay at the end of the year.

Identify Verification – OnlyFans is fairly secure, and much of that comes from their payment verification system. Follow all the required steps and keep a keen eye on your creator wallet. The second you notice a problem, contact customer service for assistance.

Limitations & Wait Times – You can withdraw as many times as you want, but you must request at least $20 at a time. Additionally, there is a processing time from when the initial transaction is captured to when your earnings are available for withdrawal. It can take several days for the money to hit your account after initiating a withdrawal.

Platform Fees – Plan for OnlyFans’ 20% commission by setting your prices to accommodate that loss. For example, if your monthly subscription fee is $10, be aware that you will only see $8 of that money. To increase your earnings, you may want to consider raising your prices to offset the platform fee. 

Get Paid Smoothly on OnlyFans

Getting paid on OnlyFans is straightforward once you understand how the system works. By verifying your identity, meeting the minimum withdrawal requirements, and keeping tabs on your wallet balance, you can avoid common pitfalls and receive your funds without delay. Always remember to factor in platform fees, stay within the terms of service, and keep your financial records organized for tax season. With a bit of preparation and attention to detail, you’ll be able to manage OnlyFans payments smoothly and securely.