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How To Withdraw Money From The TikTok Creator Fund

How To Withdraw Money From The TikTok Creator Fund

Once you start earning on TikTok, you'll need to know how to withdraw your money from your TikTok account to your bank account. This process isn't as simple as you might think, with several methods to choose from. In this article, I'll show you the best and easiest method to transfer your earnings from TikTok to your bank account.

Step-by-Step Guide to Withdraw Money from TikTok

  1. Navigate to Your Profile

    • Open TikTok and go to your profile by tapping on the little person icon in the bottom right-hand corner.

  2. Access the Balance Section

    • Tap on the three dots in the upper right-hand corner, then click on "Balance." This is where your earnings are held within TikTok.

  3. Check Your Earnings

    • View your available funds. Note that TikTok requires a wait time of approximately 30 days from the end of the month before you can withdraw the money.

  4. Withdraw Your Income

    • Tap on "Income" to proceed. TikTok will send a digital verification code to a verification app you have set up (such as Google Authenticator). Enter the code to access your Income Plus screen.

  5. Set Up a Withdrawal Method

    • Before you can withdraw your money, you need to set up a withdrawal method. Tap on "Withdrawal Method" and add either your PayPal or Zelle account. PayPal is generally preferred because it doesn't require a bank account and is more widely available.

  6. Connect Your PayPal Account

    • Tap on PayPal, log in to your account when prompted, and sync it with your TikTok account for seamless withdrawals.

  7. Complete the Tax Form

    • Upon your first withdrawal, you'll be prompted to fill out a W-9 form. This is necessary for TikTok to report your earnings to the IRS. Ensure you include your social security number.

  8. Withdraw Your Money

    • After setting up everything, go back to the Income Plus main screen and tap on "Withdraw." Follow any additional prompts, if necessary.

Important Points to Remember

  • Verification and Taxes: Providing your social security number on the W-9 form is crucial. This enables TikTok to inform the IRS about your earnings.
  • Minimum Withdrawal Threshold: TikTok has a $ 100 minimum threshold before you can withdraw your earnings, equivalent to about 2.5 million views given the current creator fund pay rate.

Conclusion

Now that you know how to withdraw money from TikTok, you might want to explore other aspects like making the most out of the TikTok Creator Fund. I have a detailed guide on how to maximize your earnings and understand how the Creator Fund works.

Keywords

  • TikTok
  • Withdraw Money
  • Creator Fund
  • PayPal
  • Zelle
  • Verification Code
  • W-9 Form
  • IRS
  • Minimum Threshold
  • Earnings

FAQ

Q1: What are the methods to withdraw money from TikTok? A1: You can use either PayPal or Zelle to withdraw money from your TikTok account.

Q2: How long do I have to wait before withdrawing my TikTok earnings? A2: There is a 30-day wait period from the end of the month before you can withdraw your earnings.

Q3: What is the minimum withdrawal amount on TikTok? A3: The minimum withdrawal amount is $ 100, which translates to about 2.5 million views.

Q4: Why do I need to fill out a W-9 form? A4: The W-9 form is required for TikTok to report your earnings to the IRS. It includes your social security number to verify your identity and for tax purposes.

Q5: Is PayPal the only option for withdrawal? A5: No, you can also use Zelle, but PayPal is often preferred due to its broader availability and the fact that it doesn't require a bank account.

By following these steps and keeping these points in mind, you can easily navigate the process of withdrawing your earnings from TikTok.

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