In the coming weeks, we will be updating a payment rule within the Model Program. Effective June 25, monthly Model Program earnings will only be issued to the main account holder.
Please note: This only impacts Models who currently have a Co-Performer or Business Representative designated as their payment beneficiary. If you are already receiving your own earnings, you can ignore this update.
What does this mean?
Verified Co-Performers on your account will no longer be able to receive payouts on your behalf. Only the main account holder can receive their earnings. Please note that this also affects business accounts receiving payments. The business representative must be you, the account holder.
Why Are We Updating Our Rules?
This change is prompted by new policies implemented by our payment providers which we are required to follow. Banks obey strict Know Your Customer regulations, which verify the identity, suitability, and risks involved in continuing a business relationship with customers. This helps ensure money is not being used to fund criminal activities. The rules are standard for all businesses in the United States.
What Can You Do To Prepare?
Please review and update your payment information to prepare for this change before June 25, 2024. You can do this by going into your Model Dashboard, clicking Core Settings, and then selecting the Payments header. From there, please ensure that your name is selected as the Beneficiary Name for Individual Account Types. If your account type is a business, please ensure that your name is selected as the Business Representative Name.
We are committed to ensuring smooth and seamless payments for all members of the Model Program. If you are having trouble updating your payment information, a member of our Model Success team would be happy to help. You can contact us here.
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