We are prepared to launch the new online courses on Udemy that we have developed. Everything is completed except for the payment method. We are located in Canada. What type of payment method should we integrate into the course creation? Alternatively, does Udemy look after the user's payment initially and then send us the direct deposit? How does it work?
Your advice would be greatly appreciated.
Thanks for reaching out. I'll be happy to assist you with your question about setting up a payment method.
Once you have entered the applicable information for your premium instructor application, you will be prompted to select your payment method.
Currently, our premium Instructors can select either PayPal or Payoneer to deliver the revenue they earn from their Udemy courses. Instructors who are residents of the United States, with a U.S. bank account, can also set up direct deposit for their payment method.
If you like more information on setting up your payment method press here.
Let me know if you have more questions, I'll be happy to help!
When you create and publish courses on Udemy, Udemy takes care of the payment processing for you. As an instructor, you don't need to integrate your own payment method or handle payment processing directly. Here's how it typically works:
Udemy's Payment Processing: Udemy handles the entire payment process on your behalf. When students enroll in your courses, they make payments directly through Udemy's platform.
Revenue Share: Udemy has a revenue-sharing model with instructors. You earn a percentage of the course price when a student purchases your course. The specific revenue share percentage depends on various factors, including how the student was acquired (e.g., organic search, Udemy promotions).
Payment to Instructors: Udemy typically pays instructors on a monthly basis. They have specific payment thresholds and payment methods. You can choose to receive payments via PayPal, Payoneer, or direct deposit (if you have a U.S. bank account). The payment threshold is usually $10 for PayPal and Payoneer and $100 for direct deposit.
Currency Conversion: Since you're located in Canada, you may receive payments in USD. Udemy provides options for currency conversion and transfer, but there may be associated fees for currency conversion and international bank transfers.
Tax Information: Udemy may require you to provide tax information, such as a W-8BEN form, to comply with tax regulations in the United States.
Pricing Control: While Udemy handles payments, instructors have control over pricing their courses. You can set the initial course price and also choose to participate in Udemy's promotional campaigns.
Before you publish your courses on Udemy, it's essential to review Udemy's instructor policies, payment terms, and any updates to their platform to ensure you have a clear understanding of how payments and revenue sharing work.
Keep in mind that Udemy's policies and procedures may evolve over time, so it's a good idea to refer to their official instructor resources and support channels for the most up-to-date information. Additionally, make sure to set up your preferred payment method and tax information in your Udemy instructor account to receive payments promptly. smart square wellstar
Thanks for the great information.
Our institution has a US bank account. Is it permissible to use this account even though our school is located in Vancouver, Canada?
Additionally, we don’t have the specific tax form as provided. Should the tax information be prepared and must be ready when we upload and publish the course content? Or, can we provide it at a later time? If so, could you supply us with the necessary tax form that Udemy will require in the future?
Thank you again,