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How To Withdraw Money From The TikTok Creator Fund

How To Withdraw Money From The TikTok Creator Fund

So, once you start making money on TikTok, you're going to want to know how to withdraw that money from your TikTok account to your bank account. However, this process is not as simple as you might think. In this article, we will guide you through the best and easiest method to withdraw your money from TikTok.

Step 1: Navigate to Your Profile

The first thing you need to do is navigate to your profile page on TikTok. You can do this by tapping on the little "me" icon in the bottom right-hand corner of the app.

Step 2: Access the Balance Section

Once you are on your profile page, tap on the three dots in the upper right-hand corner and then click on "Balance" from the menu. This is where your money is held within TikTok, and you can view if any of your money is ready to be withdrawn.

Step 3: Check Your Available Income

On the "Balance" screen, you will be able to see if any of your money is ready to be withdrawn. Note that on TikTok, you have to wait about 30 days from the end of the month before you can withdraw money. Once the income is eligible for withdrawal, it will be displayed on this screen.

Step 4: Set up a Withdrawal Method

Before you can actually withdraw your money from TikTok, you need to set up a withdrawal method. There are two options available: PayPal and Zelle. If you prefer PayPal, simply tap on the PayPal option and log in to your PayPal account to connect it to your TikTok account. This will allow you to withdraw your money directly to PayPal.

Step 5: Initiate the Withdrawal

After setting up your preferred withdrawal method, go back to the "Income Plus" screen and tap on the "Withdrawal" button. If it's your first time withdrawing money from TikTok, you will be prompted to fill out a W-9 form. This form is necessary for verification purposes and to report your income to the IRS, as you will be taxed on your TikTok income.

Fill out the W-9 form, ensuring you provide your social security number, which TikTok will use to identify you to the IRS. Once the form is completed, the income will be transferred to your PayPal account.

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FAQ

Q: What is the TikTok Creator Fund? A: The TikTok Creator Fund is a program that allows eligible TikTok users to earn money and receive payouts based on the views and engagement on their content.

Q: How long do I need to wait to withdraw money from TikTok? A: You need to wait about 30 days from the end of the month before you can withdraw money from TikTok.

Q: Can I withdraw money from TikTok without a bank account? A: Yes, you can withdraw money from TikTok using PayPal, which does not require a bank account.

Q: Is there a minimum threshold for withdrawing money from TikTok? A: Yes, there is a $100 minimum threshold before you can withdraw money from TikTok.

Q: Do I need to pay taxes on my TikTok income? A: Yes, you need to pay taxes on your TikTok income. TikTok requires you to fill out a W-9 form for verification and reporting purposes.