Prior to Selling Your Branded Coin
Twism empowers you to sell your business’ branded digital Coins to any consumer that has an account on the Twism app. Users add their credit cards to Twism so they may earn rewards and buy Coins to use themselves, or send to people they know, like a gift card. The minimum amount of Coins any consumer may purchase is $5. Used Coins are not refundable.
Selling Gift Coin Fees
There are no upfront costs needed to start selling your Coins. Twism will charge a flat rate of 5% + $0.30 on every transaction, and there is no fee when customers are paying with Coins at your business. Enable Selling Coins
Twism works with Stripe to ensure the best levels of security in your financial experience. As part of maintaining your account, there is a $2 per month service fee that is withdrawn from the first payout of every month in addition to withdrawal fees based on your withdrawal method of choice (ACH or instant). Learn more about Stripe.
Prior to Requesting a Withdrawal
To access funds and begin receiving withdrawals, you will need to connect a valid bank account or debit card. Transfers will be executed through Stripe, our payment processor. If you do not have an existing Stripe account, one will be created for you. We recommend accumulating a minimum of $50 before initiating a withdrawal to avoid higher fees.
Twism strives to make withdrawals as easy as possible. To facilitate this while keeping you, your business, and our platform secure, we use a payout processor that has some inherent fees associated with the service.
The first withdrawal of each month incurs a $2 fee.
There are two options when performing your withdrawal. Selecting a withdrawal option will display the associated fees that are applied only once a transfer has been issued for your Coin sales:
- ACH Transfer- funds are transferred via ACH, which incurs a fee of 0.25% + 25¢ deducted directly from your withdrawal. You can expect to receive the funds in 2-3 business days.
- Instant Payment - funds are transferred immediately, which incurs a fee of 1% (minimum of 50¢)+ 50¢ deducted directly from your withdrawal.
In some cases delays may occur in receiving your funds due to reasons including, but not limited to disputed purchases, bank holidays, and national holidays.
To ensure there are no additional delays in receiving your funds transfer, please set up your Coin payment information correctly.
Fees & Transfer Methods
0.25% + 25¢
(plus $2 on first payout/month)
(min. of 50¢, plus $2 on first payout/month)
When to expect the payout to arrive in your account**
2-3 Business Days
*Fees are deducted directly from your Withdrawal
**This is calculated from the date the payout has been issued by Twism.
Twism does not directly provide payout reports, but our payment processor Stripe makes these available for you to access. Twism provides merchants with a payout transaction activity list. Learn more about Stripe Payout Reports here.