Just like Instagram, TikTok provides a great platform to promote products, music, videos, and more. Many people use the app to promote products and get paid for their services through the brands behind those products. These people are called influencers.
All you need is creativity and a large following to be able to monetize your content on TikTok. Companies are willing to pay $200 to $20,000 per branded video, depending on how many followers you have.
If you have enough followers and create a few videos that you get paid for, you can withdraw funds from the app as soon as you rise over $100 (~10,000 coins) on your profile. Coins are converted to diamonds and then to cash when withdrawn.
Rules for withdrawing cash from TikTok
TikTok can only transfer funds to PayPal accounts. So if you don’t have a PayPal account, you must sign up for one. If you do, please make sure that all the information you provide is correct. Check your credit card details and address. You’re the only one responsible if a transaction goes wrong, so it’s better to be safe than sorry.
Tik Tok Withdrawal Rules
- The minimum payment amount is $100.
- You cannot withdraw anything less than $100. TikTok will only accept your withdrawal request if the amount in your TikTok account exceeds $100. If your content is not generating much revenue, you may have to wait a few days/weeks until funds build up before withdrawing.
- The maximum daily limit is $1,000.
- You can only withdraw up to $1,000 per day from your TikTok account to your PayPal account. For example, if you have $3,400 in your TikTok account, you must withdraw $1,000 each day for the first three days, and then withdraw the remaining four days on the fourth day. This might be a little inconvenient, but it’s the rule.
Before withdrawing money, you must also agree to the terms of service.
How to remove TikTok
Withdrawing money from TikTok is easy and only takes seconds. It is important to understand the TikTok withdrawal rules and terms before proceeding. Here’s what you have to do:
- Open the TikTok app.
- Select your “Profile” and tap the three horizontal lines in the upper right corner to enter settings.
- Select “Settings & Privacy”.
- Select “Balance”.
- Click on “Live Gifts”.
- Select “Withdraw”.
- Log in to your registered PayPal account.
- Confirm withdrawal.
After completing the above steps, the money should now be in your PayPal account. Remember, you can only cash out if you have more than 10,000 coins in your TikTok account.
TikTok Token Cashing FAQ
What is the transfer fee?
The TikTok app doesn’t charge you any transfer fees, but PayPal does. Depending on the country where your account is registered and what PayPal classifies your withdrawals as (donations, non-personal transfers, etc.), PayPal can charge you a flat fee of 2% or more per transfer.
How long does it take to send money?
If you desperately need it, don’t count on the money you have on TikTok. The application can take up to 15 days to review your withdrawal request. They said it was for security reasons, but they also said payments could take longer to be approved.
When the app finally approves the withdrawal, you may have to wait longer due to PayPal.
Their policy allows them to suspend your funds until they complete a security check. It may take up to 21 days for your PayPal account to access your funds. If you want to withdraw funds from PayPal to your bank account, you will need to wait at least another day, but it may take up to 7 business days.
On top of that, you have to wait a long time to spend the money you earn on TikTok.
How much can you earn?
Profiting on TikTok is not easy because you have to be creative. More importantly, it helps if you have a large audience that becomes an influencer. Even if you start making money, staying relevant and creating high-quality content at a steady pace is a full-time job.
However, if you go big, you can make a lot of money. The top 10 performers reportedly earned an average of $46,000 in just two weeks in 2016. Butter Baker made $30,000 based on some of his performances. This means you can make a lot of money from TikTok if you know how to do it.