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Streamate News (Ep. 02): Streamate Adds Cosmo Payment, Announces Bonus Week Event (4/22-28, 2018)

We recap this week’s announcements from Streamate for Streamate Models. Topics discussed in this episode:

– Addition of Cosmo Payment as a new wire transfer option for international Streamate models in select countries – Streamate’s announcement of “BONUS WEEK EVENT,” happening from 4/22 – 4/28, 2018 (start and end times in GMT)

Streamate’s various departments continue to work toward additional payment solutions following the abrupt closure of one of its primary third-party money wire transfer services, First Choice Pay.

Streamate wants all models to stay motivated and know that we are here with you during this transitional period, and would like to gift all models with a special 20% bonus for all eligible earnings generated for the week of 4/22 – 4/28.

Watch now for more details.

If you have questions about any pending payments, please be sure to make a direct inquiry with Streamate Model Support (or your studio manager if applicable).

Streamate Announces *NEW* COSMO PAYMENT Option for Non-US Performers

After the debacle last week following the closure of First Choice Pay , Streamate along with many other adult companies were left scrambling to find alternative payment solutions for their performers. For Streamate, non-US performers felt the impact of this closure most heavily. Many models wrote into both Support and tweeted us on social media searching for answers.

As of 2:00pm (PDT) on Tuesday, 4/17, Streamate sent out an inmail to all models and studio managers who are paid directly by Streamate announcing a new payment addition, Cosmo Payment. *Please visit your Streamate inmail to view original message*

Cosmo Payment is a brand of Intercash– a card provider for almost 2 decades. Cosmo Payment functions much like Paxum (a current payment method option for both US and NON-US models): an e-wallet that can be loaded with your Streamate payments. Cosmo Payment will issue a reloadable card that you can use much like a debit card for purchases and to withdraw funds from ATM’s. While you await the arrival of your Cosmo Payment card (issued by Cosmo Payment), you will have access to a “virtual card” that you can use for online purchases (as funds are available).

Cosmo Payment is currently available in select countries (see list of eligible countries via above image): the US is not currently eligible for this payment option.

To sign up for Cosmo Payment, log into your Streamate account and from your dashboard, go to PAYEE>select Cosmo Payment. You can link an existing Cosmo Payment account on this page, or sign up for a new Cosmo Payment account (you will be redirected to their website).

Streamate’s minimum payout for models who opt to receive their payments via Cosmo Payment is $100/week. Cosmo Payment determines any additional fees, which you can view here.

Streamate News: How the Closure of First Choice Pay Affects Streamate Models (and how to move forward)

See original article from our friends at Xbiz: xbiz.com/news/234907/choice-bank-suspends-withdrawals-from-deposit-accounts

On April 10, 2018, Choice Bank (dba First Choice Pay) confirmed its “liquidity” status, and halted any future transfers to its accountholders. The sudden status change of First Choice Pay caused much panic across the industry: performers demanded answers and companies were left scrambling to provide their talent (especially non-US based performers) with alternative payment solutions. Streamate Models, among scores of others within the Adult community, were also affected.

With the cooperation of various departments, Streamate was able to confirm an alternative payment solution for models who were expecting to receive their weekly paycheck via First Choice Pay this week. Please watch this episode of Streamate News to learn more, NOW!

Additionally, here is a list of Streamate’s current payment methods for both US and non-US based performers:

Models – US – check, USPS Standard Mail ($20 min. payout, no fee) – check, FedEx Overnight Delivery ($200 min payout, $30 fee) – wire transfer, direct to bank account ($240 min. payout, $40 fee) – wire transfer, Paxum ($100 min. payout, fee determined by Paxum)

Models – NON-US – check, USPS Standard Mail ($20 min. payout, no fee) – wire transfer, Paxum ($100 min. payout, fee determined by Paxum)

-wire transfer, direct to bank account ($240 min. payout, $40 fee per transaction, Payee must be listed as a Company, *only available in select regions)

Streamate anticipates the addition of more, reliable payment options in the near-future.

If you have questions regarding your payment status, please be sure to contact Streamate Model Support. If you haven’t already selected an alternative method of payment if you were originally receiving your Streamate payments via First Choice Pay, please be sure to log into your Streamate account asap to update your preferences.

*CORRECTION:  In the video, wire transfer was stated as “Direct Deposit.” The bank wire transfer option is NOT “Direct Deposit.” Streamate transfers money direct to your bank via SWIFT code system. Since direct deposits are typically utilized for recurring payments between “employer” and “employee,” which does not apply in these circumstances, we felt it important to clarify this.