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Author Topic: Closing Account of Dreamstime  (Read 2084 times)

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« on: September 23, 2020, 07:40 »
+2
Since around begin of 2020 my sales on Dreamstime had a very deep dive. No way that I could ever reach again that high payout balance of $100. So it took me several months to delete all my files one by one.

A few days ago I asked to close my account, and requested, to kindly pay-out my current earnings balance of $38.54.
But as expected Dreamstime denied me two times the pay-out of my hard-earned 'commission'.

In the dashboard I see, that my account is still active, not yet closed, but that my earnings balance is no more visible. Only if I search further I still can see this amount still showing up.

I guess this company is making a lot of money from photographers who cannot reach their payout limit, and see no other way than leaving it with them when quitting.

Finally I am happy, having left this platform. Their practice are almost scam-like.
This is just to inform guys in similar situation, not to expect any human considerations from Dreamstime.

P.S. After your first reactions to my post I must agree, that my phrase 'almost scam-like' came probably out of a kind of frustration. I certainly DID read and know the agreements I signed beforehand. But I still have a strong sense of unfairness applied against the contributors with this high $100 payout limit.
« Last Edit: September 23, 2020, 12:04 by Catfish »


« Reply #1 on: September 23, 2020, 07:46 »
0
Thanks for sharing your experience.

« Reply #2 on: September 23, 2020, 09:06 »
0
Check the contributor terms you agreed to before uploading, it might say that in there. When you agree to something, you should probably not expect human considerations. Most of these microstock agencies are sticklers that way. Some are just greedy. Look at Shutterstock, for example.
« Last Edit: September 23, 2020, 09:23 by cathyslife »

« Reply #3 on: September 23, 2020, 10:09 »
0
Since around begin of 2020 my sales on Dreamstime had a very deep dive. No way that I could ever reach again that high payout balance of $100. So it took me several months to delete all my files one by one.

A few days ago I asked to close my account, and requested, to kindly pay-out my current earnings balance of $38.54.
But as expected Dreamstime denied me two times the pay-out of my hard-earned 'commission'.

In the dashboard I see, that my account is still active, not yet closed, but that my earnings balance is no more visible. Only if I search further I still can see this amount still showing up.

I guess this company is making a lot of money from photographers who cannot reach their payout limit, and see no other way than leaving it with them when quitting.

Finally I am happy, having left this platform. Their practice are almost scam-like.
This is just to inform guys in similar situation, not to expect any human considerations from Dreamstime.
Very sad situation!

« Reply #4 on: September 23, 2020, 10:31 »
+5
Dreamstime have a very good RPD. I've earned between $1.01 and $2.07 per download this year.

I have a port of 1548 images and an outstanding earning balance of $65.79. I should reach the payment threshold in Spring 2021.


« Reply #5 on: September 23, 2020, 10:40 »
+3
Quote
Their practice are almost scam-like.

Setting forth terms and allowing you to accept or refuse isnt a scam. A scam would be if you didnt have a chance to read and refuse beforehand. Have you checked the contributor agreement to see what it says? If nothing is in there, then you might be able to call it a scam and see if you can get the money.

« Reply #6 on: September 23, 2020, 10:55 »
+14
...Their practice are almost scam-like.
This is just to inform guys in similar situation, not to expect any human considerations from Dreamstime.

It's a shame that things weren't working out for you with Dreamstime, but I strongly disagree that their practices are "almost scam-like".

I still have my account open with them - and in May I did a catch-up upload of recent files when they behaved in a very thoughtful way and increased contributor royalties by 10% because of the Covid-19 pandemic. I had no illusions that suddenly sales would go back to where they had once been, but as they were the only agency behaving with consideration for contributors hurt by the pandemic, it seemed I should update my portfolio to give them more to sell.

It is absolutely true that whereas I could once make payout multiple times a month, it now takes months to reach $100. Dreamstime has always paid me in a timely way (I've been there since 2004 with a gap from 2008-11).

If you argued that given their current level of sales, Dreamstime should cut payout to $50, I'd agree wholeheartedly. However I can wait to reach $100 (and you could have too if you just let files sit - what harm would that have caused?).


« Reply #7 on: September 23, 2020, 11:28 »
+3
Agree, nothing wrong with DT and good RPD

« Reply #8 on: September 23, 2020, 12:25 »
+2
Add me to the list of those still happily contributing to DT.

They do provide a good RPD and they have increased their royalties during the pandemic and they always pay promptly once I hit that $100 mark and ask them for my money.

Like everybody else, I'd prefer a lower threshold for payout, but as Jo Ann said, if one is patient, one does get paid what one is due, and one gets what one was promised without being jerked around ad nauseum. (Think iS and SS and others not worth mentioning.)

« Reply #9 on: September 24, 2020, 09:46 »
0
I am still a very new contributer with not to many images and I spreed them on nearly 10 agencies, which all have their own payment level.
After shitterstock experiences, we never know, who will be the next agency we might like to show our back. For this case in the future, I decided to do this: Ones reached the payout limit, I will not yet ask for the money! I wait until I reached the double and will ask to pay me the half of it. Then I am flexible and will be able to quit directly with any agency anytime I want which might get worse to contributers.
I think, this is the best idea to do for contributers, who sells a lot. But however: We should prepared for the future, isnt it?

« Reply #10 on: September 24, 2020, 13:24 »
+9
...Ones reached the payout limit, I will not yet ask for the money! I wait until I reached the double and will ask to pay me the half of it. ...

In general, I would advise against leaving money with any agency once you can collect it.

There's only one place the money is within your control and that's when it's in your bank account. Interest rates are at the moment at historic lows, but more typically, someone will earn money on the balance in your account; I'd rather it be me and not the agency.

« Reply #11 on: September 24, 2020, 14:44 »
0
...Ones reached the payout limit, I will not yet ask for the money! I wait until I reached the double and will ask to pay me the half of it. ...

In general, I would advise against leaving money with any agency once you can collect it.

There's only one place the money is within your control and that's when it's in your bank account. Interest rates are at the moment at historic lows, but more typically, someone will earn money on the balance in your account; I'd rather it be me and not the agency.

Good advice.  Beware of the next Revostock. 

Note:  Dreamstime has been reputable for the 11 years I've been there.  No problems at all.
« Last Edit: September 24, 2020, 14:47 by trek »

« Reply #12 on: September 24, 2020, 17:35 »
0
...Ones reached the payout limit, I will not yet ask for the money! I wait until I reached the double and will ask to pay me the half of it. ...

In general, I would advise against leaving money with any agency once you can collect it.

There's only one place the money is within your control and that's when it's in your bank account. Interest rates are at the moment at historic lows, but more typically, someone will earn money on the balance in your account; I'd rather it be me and not the agency.
That's true!

« Reply #13 on: September 26, 2020, 08:36 »
+2

After shitterstock experiences, we never know, who will be the next agency we might like to show our back. For this case in the future, I decided to do this: Ones reached the payout limit, I will not yet ask for the money! I wait until I reached the double and will ask to pay me the half of it. Then I am flexible and will be able to quit directly with any agency anytime I want which might get worse to contributers.

In my not-so-humble opinion (not to mention my long experience), that is exactly the opposite of a good strategy.

I take my payout immediately, just as soon as I'm qualified for it, no matter which agency. If it's Adobe, I ask for payout as soon as I've reached $25, and usually there's more than one of those a month. It costs me nothing to pull it out whenever I've earned it.

As Jo Ann said, the $$ is safest once it's in your own bank account.

steheap

  • Author of best selling "Get Started in Stock"

« Reply #14 on: September 26, 2020, 09:16 »
+2
One point to bear in mind with this strategy, Martha. Paypal has a threshold above which they send a tax form which complicates how you need to do your taxes in the USA. I think it is $20,000 and 200 transactions. So if you earn that much and make multiple requests for payout, you are likely to hit the 200 transactions threshold. With the bigger safer agencies I let my earnings collect over a few months before I request payout.

Steve

« Reply #15 on: September 26, 2020, 09:50 »
0
Speaking of payout, this will mark the first time in 9 years that I've been with the SS that I won't reach payout in one month. Dreamstime was the first agency I joined way back in 2009 and its always been very consistent and predictable. Feathers never ruffled. Always judging my images in the same consistent way it did since day one. Not a big seller but with 10,000+ images payouts are now consistently 4 times a year.....No surprises or radical changes. That works for me.

« Reply #16 on: September 26, 2020, 11:45 »
0
One point to bear in mind with this strategy, Martha. Paypal has a threshold above which they send a tax form which complicates how you need to do your taxes in the USA. I think it is $20,000 and 200 transactions. So if you earn that much and make multiple requests for payout, you are likely to hit the 200 transactions threshold. With the bigger safer agencies I let my earnings collect over a few months before I request payout.

Steve

Thanks, Steve, for that good information. I didn't realize PP had any kind of threshold, and it's possible others didn't either. It's certainly worth knowing about.

Fortunately/Unfortunately, it's not really a concern to me, because I've never earned that much from any of my agencies and can't imagine that I ever will.

Just to clarify is that figure you mention cumulative over time or per year?

« Reply #17 on: September 27, 2020, 04:14 »
0
Well, thank you for open my eyes in that way. I should change my strategy.

steheap

  • Author of best selling "Get Started in Stock"

« Reply #18 on: September 27, 2020, 09:19 »
+2
The Paypal threshold totals are for the calendar year - so it is $20,000 AND 200 activities in that year. It resets in January, I believe.

Steve

« Reply #19 on: September 27, 2020, 10:02 »
0
The Paypal threshold totals are for the calendar year - so it is $20,000 AND 200 activities in that year. It resets in January, I believe.

Steve

I figured it had to be that, and if so I just don't have to worrry. LOL!  :D

Others might, of course, so it's very good to have that on the record.

Thank you, Steve.

« Reply #20 on: September 28, 2020, 23:10 »
0
i have well over $20K and 200 transactions thru paypal every year (combined stock, ebay & amazon sales) & have never had a tax form from them (tho i do use their reporting to tote up fees). might it be the difference between a personal & a business account? (i have the latter)

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #21 on: September 29, 2020, 10:54 »
+1
i have well over $20K and 200 transactions thru paypal every year (combined stock, ebay & amazon sales) & have never had a tax form from them (tho i do use their reporting to tote up fees). might it be the difference between a personal & a business account? (i have the latter)

Don't know why not, but here's the scoop:

Under the act, PayPal is required to report to the IRS the particulars of any individual or business account receiving at least $20,000 in payments annually from at least 200 transactions. Both of these threshholds must be met to trigger the report, which is done on a new form, Form 1099-K.

https://www.sapling.com/7202980/paypal-report-irs#:~:text=What%20Does%20PayPal%20Report%20to%20the%20IRS%3F%201,Reporting%20Requirements.%20...%203%20Preparing%20and%20Implementing.%20

Hmm, I don't like the way that link looks, here's the tinyurl:  https://tinyurl.com/yxmnlses

The Paypal threshold totals are for the calendar year - so it is $20,000 AND 200 activities in that year. It resets in January, I believe.

Steve


Yeah worth repeating, since that AND gets lost.  :) $19,999 and 300 transactions, no reporting required. That brings up another note: required does not equal that someplace won't do that. I worked a contract and asked that they only pay me $599 not the $600, dumb ass accountant still sent the 1099, so that means instead of making $599, for expenses, I made $449 after taxes.

I'm safely under $20,000 annually with Paypal, (and this isn't just Paypal, it's everywhere that makes payment transactions) but I know it's worth understanding in case I should suddenly get wildly successful at something like selling things on eBay.

« Reply #22 on: October 05, 2020, 17:17 »
0
Hi, I'm trying to close me Dreamstime account as well.  Have disabled all my files as they asked me to do.  They had emailed me that I can suspend the account from the public site from Management Area/Edit profile button.  However I do not find a link to suspend account on the 'Edit your profile' page.  Can anyone please help!

Thanks in advance  :)


 

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