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Automated Payouts

Last Updated: 03/16/2023

GlassPass Automated Payouts Guide

What are Automated Payouts?

The brand new GlassPass Automated Payout System makes payouts easier than ever, with no extra fees! Now, you choose how & when you want your money sent to you.

  • Payouts are ready immediately when the buyer confirms safe delivery (or upon shipment if you’re a Trusted Seller).
  • Choose from multiple new methods: Direct-to-Bank Transfers, Cashapp, a variety of gift cards, & more to come.
  • Withdrawal your funds whenever you choose! Powered by a fully automated system, payouts are sent faster & with less hassle!

By mid-2023, it’ll become our only method for payouts. We’re slowly phasing out the current methods as they’re becoming increasingly unreliable, resulting in delays to your payouts. Making the payout process as seamless and easy as possible is our main goal, and this will allow us to achieve this in the near future.

Automated Payouts Requirements

As a seller, you can use Automated Payouts if your:

  • GlassPass is updated to version 2.4.5
  • Name & number are entered correctly when prompted

Follow the instructions below!

Automated Payouts Process:

After you accept an offer on a listing and the buyer has paid:

  1. Tap the blue “Submit Payout Info” button, located underneath the shipping address.
  2. Select “Automated Payouts” at the top of the payout methods list. If it’s not there, make sure your GlassPass app is up-to-date!
  3. Enter the tracking information for the item when you ship it
  4. When the payout is ready (after the buyer confirms safe arrival), you’ll receive a Push notification, a text message, and a “Get Paid” button will appear in the chat.
  5. Tap the link to see your total balance available for withdrawal.
    • If your total sales on GlassPass are over $600 for the calendar year, you’ll automatically be prompted to enter your tax information to receive the payout. For detailed info on taxes, read more in the FAQs below and our 1099k tax guide.
  6. Withdrawal your Payout balance at any time to any of the available methods!

All data is stored securely, encrypted inside of our Banking Partner Dots’ sophisticated security system. GlassPass does not have any visibility into your personal banking data, and follows NIST’s best practices for data security. All banking information is encrypted and stored securely with Plaid, the most secure way to link a bank account.

Requirements

  • Real full name & phone number entered when prompted
  • Tax Identification required for if total payouts are over $600

FAQs

Q: When would I need to submit my tax information?

A: If your total sales on GlassPass are over $600 for the calendar year, you’ll automatically be prompted to verify your identity to receive the payout.

  • This is because of a new tax law the IRS passed in 2022 requiring a 1099K to be sent to anyone who receives over $600 via any digital payment method. You can read more about it here, or on the official IRS website here.
  • In the future, we’ll be starting to support organizations trying to raise this threshold, as $600 is ridiculously low to have to file taxes on.

Q: What are the benefits of using Automated Payouts?

A: The benefits are:

  • Faster payouts
  • Direct to bank
  • No extra fees
  • Cashapp included
  • Multiple other payout methods