Why can't I cash out? And other questions
A number of new FanBoxers have been asking me why they can't cash out today - when they previously thought they would be able to.
I will attempt to answer that for you below. But if you have any questions like that, please speak to your free Success Coach - because they are experts...
... and if you click a button to allow them to, your Success Coach can even view your bank and earnings history to help you understand your specific details.
In the meantime, here are answers to some of your questions that you have been asking lately:
Question: I thought I would be able to cash out today. What happened?
Answer: I obviously don't know your specific situation, but here's my best guess:
You have at least one live Boost or Ad.
Remember, your live Boosts and Ads will utilize any available funds that have matured for at least 60 days.
This is a good thing because it keeps your money growing for you.
Keep in mind that each time your money is utilized by your Boosts or Ads to earn you more, your new earnings will then need to mature for:
-- 30 days before they can be used to buy products and services
-- 60 days before they can be to be used to even more with Boosts and Ads again...
-- and 90 days before they can be cashed out.
Every month, on the last day of the month, your funds mature to their 30, 60 or 90-day (or more) point.
Therefore, on December 31st or January 31st, some of your funds may have reached their 60-day point, and hence became available for use by your Ads and Boosts.
That's why all of a sudden they started getting utilized, and you started earning again (and your overall balance went even higher).
Question: It is a good thing to keep my Boosts and Ads on - utilizing my 60-day matured earnings whenever they become available?
Answer: Absolutely. As I discussed here, the secret to most people's success is that they always keep their balance working for them -- instead of having their money just sitting there unproductively - so that they are maximizing their earnings.
Question: What if I don't want to utilize my matured funds on Ads and Boosts?
Answer: Simply turn some or all of your Ads or Boosts to Off.
Question: Can I use my (90-day) matured funds to pay down my IPL -- or pay my IPL processing fees?
Answer: You can pay down your IPL with any fully matured funds. And you can pay your IPL processing fees with any fully matured IPL profits -- which is the amount of your fully matured funds minus your IPL utilized (what you owe in IPL funds).
Question: Are there any downsides to turning off IPL, or paying it off?
Answer: The only downside to paying down your IPL is that your IPL Limit will be reduced to the minimum again, and it will take time for it to come up again.
So while you're waiting for your IPL Limit to come up again, your earnings ability will be reduced or you may not earn at all.
To be clear, you will definitely face at least a few months of waiting, before you can again start to earn the larger amounts that you might have become accustomed.
And the only downsides to turning off your IPL, is that your IPL limit won't be increased while it is off; and you won't be using any available IPL funds to accelerate your earnings.
Other those things, there are no downsides to paying down your IPL or turning your IPL off.
Question: Please tell me again: When can I use my earnings to buy things; or use them to earn even more; and when can I cash out my earnings?
Answer: With your earnings from any month, you can:
-- Buy things 30 days after the month
-- Use your money to earn even more with Ads and Boosts after 60 days
-- Or cash out your money after 90 days.
Question: Why do these maturity (30-60-90 day) rules exist?
Answer: In order to reduce fraud. After someone earns, FanBox continues to check the validity of their earnings, and if they are found to not be legit, those funds can be returned to the earnings pool for other members to enjoy.
For example, if Joe sells an iPad but doesn't deliver it, FanBox can remove Joe's earnings from the sale of that iPad, and return it to the buyer.
Or if Sally fraudulently earns from her blogs (by attempting to game the system) FanBox's fraud detection algorithms or team will quietly mark her account for deletion, as I detail here, but might wait up to 90 days before actually deleting her account. This approach helps create maximum pain and frustration for fraudsters - to ensure a fair and level playing field for all FanBoxers.
Question: One more time: When can I use my earnings to pay my processing fees?
Answer: You can use any of your fully (90-day) matured earnings to pay your processing fees, so long as they exceed your IPL utilized (which is the amount that you owe).
For example, if your fully matured funds are $150, and your IPL utilized is $120, then you have $30 that you can use to pay your processing fees or cash out ($150 minus $120 = $30).
Question: Can I clearly see how much of my earnings have matured 30 days, 60 days or 90 days?
Answer: Absolutely. You can do that from your FanBox Bank:
First, click "My Dashboard", then "My Balance":
Then click "Balance" and a pop-up will detail the status of your funds:
You can see how your bank balance breaks down into different amounts -- based on their maturity level.
Question: I have some money that has matured 90 days. Why can't I cash it out?
Answer: There are only two (2) reasons why you wouldn't be able to cash out funds if they have matured for 90 days:
1. You are attempting to cash out less than 25 dollars.
The minimum amount of money you can cash out is $25.
Why? To stop people from cashing out $1 every morning for their morning coffee.
Cash outs create work for the accounting team, so if you have less than $25 in fully matured funds, wait until you have $25 or more.
2. The amount of your fully (90-day) matured earnings is less than your IPL utilized amount.
Example: If your fully (90-day) matured funds is $90, but you owe $100, you're not ready to cash out yet. So wait until more of your funds become fully matured.
Remember that you need to pay off any amounts that you owe when you are cashing out. But don't worry -- you can use your fully matured funds to pay off what you owe.
Example: Let's say that your fully matured funds are $150 and your IPL utilized is $100. When you go to cash out, you'll pay off your $100 in IPL utilized, and cash out $50.
Question: Where can I see how much IPL I have utilized?
Answer: In your IPL page.
To visit your IPL page, go to your dashboard, then click the "I'll Pay Later" button:
To visit your IPL page, go to your dashboard, then click the "I'll Pay Later" button:
There, you can easily see how much IPL you have utilized:
Got more questions?
Ask your free Success Coach. They are here to serve you, and if you allow them to, they can view your FanBox bank and give you precise answers to your specific and personal questions.
Please don't post anything that's personal in the comments below (related to your private situation or bank).
Instead, ask your Success Coach.