Effective October 2, 2018
In the event of a conflict between any FAQ and the Terms of Service, the Terms of Service control.
Your accrued earnings are displayed under the description Unsettled. At the beginning of each month, we settle accounts, which involves making adjustments for refunds and amounts due from external sales. Your settled amounts will display as a "Credit". When the payout is processed, you will have a Payment record. If your balance due is less than $5, we carry forward your balance as a Credit. Your payment will show up by the 15th.
We settle payouts for the previous month between the first and third, after resolving any outstanding issues (usually refund holds for violations of the terms of service). The credit will show on your Sales dashboard and is the amount you will receive as a payout. If you had a violation of the Terms of Service hold, it may change as we resettle to account for refunds. Settling is the process of reconciling Boom sales, external sales, and refunds.
Payouts begin when settlement is complete (around the 2nd) and is finished by the 15th.
Through PayPal. We must have received PayPal payout instructions to send you a PayPal payout. If we do not have payout instructions by the 15th, you will be paid the following month. By default, payouts are via PayPal.
We issue payouts for settled amounts down to $5.
Our Service Fees
Service fees are small percentages of sales we charge so that we can support you and your customers. Service fees help pay for customer support, development to maintain and improve the system for you and customers, and to enable you to sell Boom Cards as you see fit, on a marketplace of your choosing. We charge a lower Service Fee for sales on other marketplaces as that marketplace handles a portion of the service we provide for direct sales made on Boom Learning. Service fees are how we keep the lights on.
- Boom Learning Marketplace Service Fee = 15% of your sales price
- External Marketplace Service Fee = 10% of your sales price*
- PayPal Mass Payment Fee = The amount set by PayPal to issue payment to you using PayPal. This is deducted from your earnings when paid. We use the 2% API for all US customers. For foreign sellers, fees will vary by country and may be more than the fees charged for US payments.
*Sales linked to the Boom Cards TpT Listing URL for a single deck are exempt from service fees. Sales linked to the Boom Cards TpT Listing URL for a Boom Bundle are not exempt. Sellers choosing to list multiple Boom Cards TpT Listing URLs in lieu of a Boom Bundle URL are subject to a Service Fee being assessed at our sole discretion. We provide the Boom Bundle URL because bundle sales often result in higher usage of customer support services than single-deck sales. Using the Boom Bundle URL provides a better experience for your customers.
How We Calculate Service Fees
Service Fees are calculated based on the price of the Boom Card in the Boom Store, without consideration of where the deck was sold and without consideration of the sale price on an external site. You should set your Boom Cards price in the Boom Store with this in mind. To calculate Service Fees in dollars, we convert points to pennies. For example 100 points = $1.00.
Service Fees are assessed at the time of sale on the current list price for Boom Cards sold in the Boom Store. Service Fees are assessed at the time of redemption on the list price at redemption for Boom Cards sold in external marketplaces. If a Listing URL is not redeemed by a customer, we will not charge you a Service Fee for that sale.
We keep a running total of your Service Fees, sales, and redemptions. You do not have to track them. The Sales tab in the Studio reports totals and subtotals by year. You can also see a detail of your Transactions (Boom Learning Marketplace and off-site) by year and month. These can be copied and pasted into a spreadsheet for your marketing and business tracking purposes.
Payouts are the amounts you receive after all Service Fees and the PayPal Mass Payment Fee are deducted.
Payouts = Amounts Owed to You for Sales in the Boom Store (after the Service Fee) - Service Fees you owe Boom Learning for sales on external sites - PayPal Mass Payment Fee.
An Example (excluding PayPal Mass Payment Fees)
Let's look at a single $100 bundle sold in four different places: Boom Learning, Mieux Enseigner, Teachers Pay Teachers, and the imaginary French Teacher Blog. For simplicity, the bundle is listed at the same price on each market (and we'll assume USD).
|Marketplace ||Gross Sales on the Marketplace||Marketplace Service Fee||Boom Customer Service Charge||Total Earned|
|Boom Learning||$100||$15 (15% of 1000 pts)||$85|
|Mieux Enseigner||$100 CAD||$20 (20% of $100)||$10 USD (10% of 1000 pts)||$70|
|Teachers Pay Teachers ||$100 USD ||$20 (20% of $100)||$10 USD (10% of 1000 pts)||$70|
|French Teacher Blog||$100 USD||$5-20 estimated business cost||$10 USD (10% of 1000 pts)||$70-85|
Sellers with a negative balance at month-end will be invoiced for Service Fees generated from external marketplace sales.