Dear Provider,
Please make sure that the amount requested by you on the payout form, is the amount that
you would like to receive as a payment for your services.
Please make sure it is the relative payout share you are entitled to.
E.g. If a month ended in $4,000 net profit and as a provider you are eligible to a 60% payout
share, please make sure you are requesting up to $2,400 on that specific payout request.
The Profit must exceed $2,000 in order to be eligible for a Payout, and should not be less than 5% from the initial balance.
The provider must attach a proof of ID and proof of residence alongside any payout request.
Only profits accumulated up to and including the end of the preceding month are eligible for payout.
A payout must be submitted no later than the 10th of the month and will be processed by the 15th.
Any losses accrued in the sub-account from the 1st day of the payout month until the payout day will be deducted from the amount that could be requested.
Due to regulatory and tax considerations, the provider will be limited to a maximum payout request of $10,000 for each of their initial three valid payout payments on any single TEFS sub-account.
To read the full terms of the TEFS contract, click here
**TEFS makes every effort to issue payouts in full sum. In order to do this, TEFS pays all banking fees from the wire’s origin bank. It should be noted however that TEFS cannot be responsible for any incurred charges accrued by the receiver’s bank and/or any possible passthrough banks / agencies that may be used as it’s impossible to know in advance how the receiving bank will need the funds routed.