Navigating TPT Payments: A Breakdown of Hyperwallet and Payout Methods

Now that you have your Teachers Pay Teachers store up and running, it's time to ask the big question... "How do I get paid?"

As of December 2021, Teachers Pay Teachers is using a payment processing company called Hyperwallet. Hyperwallet allows sellers choose how they would like to receive their payout each month from Teachers Pay Teachers. The choices include PayPal, Venmo, wire transfer, or direct deposit. Some of the payout options will depend on what country you live in. No matter which type of seller account you have, basic or premium, you can choose the payment method that works best for you.

Setting Up Your Hyperwallet Account

Before you choose the payout option, you need to create your Hyperwallet account and connect it to Teachers Pay Teachers. Once you log into TPT, go into your account and select "Payout Method". You will get a a unique TPT key to put into Hyperwallet. After you enter the unique key, you can then complete the your registration.

After you have created your Hyperwallet account, you may be prompted to give specific information for tax purposes (if you are in the United States). Make sure the information that you provide is to Hyperwallet is the same as the information in Teachers Pay Teachers - especially your address!

Which Payment Method is Best For You?

There are 3 payout methods that Hyperwallet offers - PayPal, Venmo, and direct deposit. There are different fees and timelines that come with each method. Check out this chart below to see how they differ.

Some things to note:

• If you see a wire transfer option, then you may live in a country that has some restrictions the direct deposit option.
• For international sellers, there are exchange rates that will fluctuate and there is a fee involved.
• You can change your payout method whenever you need to!

When Will I Receive My Payout?

You will get paid each month based on your earnings from the previous month. For example, your first month selling your teaching resources was June 2022. You will receive a payout July of 2022. Most sellers get paid around the 10th of every month. You should receive it in your payout method of choice no later than the 21st of that month. Depending on your payout method, it could take 1-3 days to arrive in your bank account.

Hyperwallet has a tracking feature that allows you to track your payment from Teachers Pay Teachers. It's kind of like tracking your Amazon order! Their customer service is great if anything should go wrong or you have any questions.

Check out Teachers Pay Teachers FAQ to read more about Hyperwallet.