Requesting a withdrawal of your earnings

Last Updated: Aug 04, 2017 11:05AM AEST

O-tix offers support for pre-event remittance for events that are run by major organisers, with an established business and track record with O-tix. On-going remittance allows you to get paid throughout the term of your event up to 4 times, as and when you make a remittance request.

O-tix's remittance management functionality allows event organisers to create a remittance request based on the event earnings. O-tix then evaluates and transfers the funds to you after reconciling the event, and instructing the accounts team. Note that terms and conditions apply, and certain criteria must be met to become eligible for pre-event remittance. 


 

1. Requesting access to pre-event remittance

In most cases O-tix allows reputable organisers who have a track record with events on O-tix to access sales revenue from their event, before the event has finished. If you qualify for pre-event remittance, you are permitted to withdraw up to 70% of your earnings, a maximum of three times pre-event, and a maximum of once per month (with the full balance payable after the event finishes). Please note that a minimum of $500 AUD in earnings is required to enable pre-event remittance.

In order to maintain a satisfactory level of security for all event organisers and customers using the O-tix platform, , O-tix requires event organisers who request pre-event remittance to demonstrate a strong track-record of successfully run events to ensure that they are reputable businesses.

To request pre-event remittance for your event, please email support@o-tix.com with the following information

  1. Organisation name
  2. Primary contact name
  3. Contact information (Email and Mobile number)
  4. ABN / ACN (if Australian Business)
  5. Company registration number (if non-Australian Business)
  6. A link to any tangible assets that support the legitimacy of the business entity (such as corporate website)

O-tix will assess your request and notify you of the outcome.


 

2. How to make a remittance request

  1. When logged in to your O-tix account, from the main navigation bar (top of screen), on the right-hand side, click on your Username and then select "Remittance and Payments.
     
  2. Add the account where the funds will be sent, by clicking 'Payout Settings' and then 'Add New Account' (if you have done this previously you may skip this step).
     
  3. Click 'Remittance and Payments' to commence the withdrawal request. Choose the account where funds will be sent, by clicking on on "Select Account" within the "Account Name" column (the account you added in the step before).
     
  4. Locate the event for which you want to request a remittance and click on "Create Request". Note: if ‘Create Request’ is not visible, please contact our team on support@o-tix.com to gain access2016-04-12_19-06-27
  5. Within the "Create Remittance Request" window you will see the below information:

    2016-04-12_19-07-53 - Remittance request modal

  6. Select what you would like to do, there are two options: For a remittance request, please select Option 2 - Request a payout
  7. Enter the amount for which you would like to request a payout. This amount must be less than or equal to the maximum permitted remittance.
  8. Click the "Create Request" button (please wait 20 seconds after clicking the button to allow the request to reach the O-tix server). Our accounts team will then process your request in the next available payment run.

LEGEND:
  • Earnings: The total money that you have earned from ticket sales (Total sales value - Fees). This value includes all applicable taxes for your country.
  • Total Remitted: The total amount of money that has been remitted to you, to date.
  • Available Balance: Earnings less any monies that has already been remitted to your account 
NOTE:
  • Please note that for O-tix to facilitate refunds through the system, we must retain a float within your account. The float value is determined based on the type of event, the number of events that you have previously run with O-tix and your business background. Unless otherwise stated the default event float is 30%, which permits a maximum withdrawal of 70% of your earnings at any point before your event has finished.
  • O-tix will inform you of the maximum amount that you can request at a given point in time.
  • The float amount will be remitted to your account within 7 days of the completion of your event. This is to account for any refund requests, outstanding payments or customer charge disputes.


Please note that remittance payments are made on Wednesdays and Fridays, except public holidays. Remittance requests must be made by 1pm the day prior, to be eligible for the next day's payment run (e.g. 1pm Tuesday is the deadline for the Wednesday payment). 

While O-tix endeavours to get every request processed in the following pay run, in some rare cases this will not occur and payment will be processed in the subsequent pay run. If access to your earnings is time sensitive, please take this into consideration when creating your remittance request. Please also consider the impact of public holidays.


 

Remittance Terms and Conditions

  1. Pre-event remittance will be activated on the sole discretion of O-tix management. We take risk assessment and platform security very seriously and will request the required information to allow us to make an informed decision on permitting pre-event remittance.
  2. All refunds are processed directly via O-tix to prevent any fraudulent activities via the O-tix platform. This mandates that refunds are only made to the person and to the card from which payment was originally received. The O-tix platform is designed to handle these refunds in a secure manner. This requires all event organisers to maintain a sufficient float within the event to fulfil any refund requests via the platform.
  3. Remittance payments are made on Wednesdays and Fridays, except public holidays. Remittance requests must be made by 1pm the day prior, to be eligible for the next day's payment run. While O-tix endeavours to get every request processed in the following pay run, in some rare cases this will not occur and payment will be processed in the subsequent pay run. Please note that remittance to foreign banks incurs a $30 (AUD) transfer fee. This will be deducted from the remitted amount. Additional fees may be charged by your receiving bank.
  4. For events that are using any of the major foreign currencies offered by O-tix, all remittances will be made in the base currency of your event (e.g. if the base currency is EUR, remittance will be made in EUR). Please ensure that your receiving bank can accept the funds in the base currency before making remittance requests. O-tix is not responsible for any variations in remittances due to foreign currency fluctuation or conversion made by the receiving bank.
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