Payments in Oneforma is very simple. There’s a fixed monthly cycle, and you get paid around the 25th of every month. You can add your Paypal account (verified, business account) to receive payments from them, and you also have the option to get direct bank payments (but they require a minimum of 50$).
There is also the option of Payoneer coming soon, as they stated in one of their recent newsletter.
But before you can begin receiving payments, you need to fill and sign a W8 form (if you are a non-US resident) or a W9 form (if you are a US resident).
What is the W8/W9 form anyway?
It’s a tax-related document you need to provide if your earnings are higher than 300$. Even if you don’t believe you will earn such an amount, you still need to submit this form while adding your Paypal email.
The W8 (BEN) form is required for non-US residents, and you just need to fill in your Name, Location (Country), and your signature. That’s it.
The W9 form is required to be submitted by US residents, and asks for more specific details. Let the US residents figure the W9 form procedure by themselves. I am here to explain to you how to fill the W8 form for enabling payments in Oneforma.
How to sign the W8-BEN form in Oneforma?
- Go to “My Profile” Section in Oneforma. From the Left sidebar, select “Payment Information” and click on “Add New Paypal Account“.
- From the box that appears, click on “Download W8-BEN form“, and save it.
- Now we need to edit this form. Go to any online pdf editor (or click this to save yourself a Google search). Upload the form you just downloaded.
- Use the “text tool” to write your name and country in the form. Then use the “pencil tool” to sign at the bottom of the form (See screenshot). Then download the form.
- Now go back to the dialog box (where you downloaded the form from), and upload the filled form along with your Paypal email.
That’s it. As simple as that.
What is the payment cycle in Oneforma?
Payments in Oneforma run from 25th day of previous to 25th day of this month. This means that for all your work approved till 25th of a month, you will be paid by the 25 of the following month.
They have used this approach to reduce the discrepancies in payment during the end of the month. So if some of your work was completed in the end of the month, you will have to skip one payment cycle and will get paid almost two months later.
This helps them maintain their payment information with integrity, and reduces the chance of error.
Basically, their is a 30-60 day wait between completing work and getting payments, but rest assured you do get paid.