How to Withdraw Balance on TikTok – Just like Instagram, TikTok provides a great platform to advertise products, music, videos and so on. Many use apps to promote products and get paid for their services from the brand behind the product. These people are better known as influencers.
All you need is creativity and lots of followers to be able to monetize your content on TikTok. Companies are willing to pay between $200 and $20,000 for each branded video depending on how many followers you have.
If you have enough followers and have made some paid videos, you can withdraw money from the app as soon as you collect more than $100 (10,000 coins) in your profile.
This article will explain everything you need to know about withdrawing money from TikTok.
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How to Withdraw Balance on TikTok
TikTok can only direct funds to PayPal accounts. Therefore you must register an account if you do not have one. If you do, please make sure that all the information you provide is correct.
Check your credit card details and your address form (if you moved recently). You’ll be the only one responsible if a transaction goes wrong, so it’s better to be safe than sorry.
Now, for the rules:
- Minimum payout $100
That means you won’t be able to withdraw anything less than $100. TikTok will accept your withdrawal request only if you have more than US$100 in your account. If your content is not generating a lot of revenue, you may want to wait a few days/weeks for the money to accumulate before making a withdrawal. - The maximum daily limit is $1,000.
You can only withdraw $1,000 from your TikTok account to your PayPal account per day. If you have, say, $3400 in your TikTok account, you have to withdraw the money over four days by withdrawing $1000 a day for the first three days and the rest on the fourth day. It might be a bit of a hassle, but that’s the rule.
You must also agree to the Terms of Service before making a withdrawal.
Making Withdrawals
Making a withdrawal from TikTok is easy and only takes a few seconds. Here’s what you should do:
- Open the app.
- Click the three dots in the top right corner.
- Select “Wallet”.
- Kiik “Payment”
Done – the money should now be in your PayPal account. Remember, you can only cash out if you have more than 10,000 coins in your TikTok account.
FAQ About TikTok Cash Outs
You may also be interested in some other details about the possible fees involved and the time it will take for the funds to be transferred to your account.
In this section, we will provide answers to some of the important questions you may be asking yourself before your first payment.
How Much is the Transfer Fee?
The TikTok app won’t charge you any transfer fees, but PayPal will. Depending on the country where your account is registered, PayPal may charge you up to 3.8% of the amount for each money transfer.
The percentage is slightly lower on transfers over $500. You also have to pay $5 for the money to be transferred from your PayPal account to your bank account.
How Long Does it Take for Money to Transfer?
Don’t rely on the money you have on TikTok if you really need it. Applications may take up to 15 days to review your withdrawal application. They say it’s for security reasons, but they also state that it may take longer for the payment to be approved.
When the app finally approves the withdrawal, you may have to wait even longer because of PayPal.
Their policy allows them to withhold your funds until they complete a security check. It may take up to 21 days for your money to be available in your PayPal account.
If you want to withdraw funds from PayPal to your bank account, you will have to wait at least one more day, but it can take up to 7 business days.
The bottom line is that you have to do a lot of waiting before you can spend the money you earn on TikTok.
How Much Money Can You Make?
Earning money on TikTok is not easy because you have to be creative. More importantly, you need a large audience to become an influencer.
Even if you’re starting to make money, staying relevant and creating quality content at a steady pace is a full time job.
However, if you have great success, you can make a lot of money. According to reports, the top 10 players earned an average of $46,000 in just two weeks in 2022.
Bart Baker makes $30,000 based on some of his appearances. This means you can earn a lot from TikTok – if you know how.
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