General Frequently Asked Questions
What is SpankPay? Is it a cryptocurrency wallet?
SpankPay is a hosted cryptocurrency wallet and payment processor! SpankPay lets you sign up with an email/password (no seed phrase to remember), set up a personal payment page, auto-convert any earnings to USD (if desired), and cash out in crypto (BTC/ETH) or to your bank.
I already have a crypto wallet, can I use it with SpankPay?
Yes! You can use your existing crypto wallet to receive payouts from SpankPay or send payments to SpankPay users.
Can I sign up for SpankPay if I live in ________?
Yes, unless you live in North Korea, Iran, or other countries sanctioned by the US Treasury OFAC.
Can I transfer money my SpankPay earnings to my bank?
Yes, we currently support withdrawals to major U.S. banks but we'll be adding support for UK, EU, and Australia in the upcoming weeks. If your SpankPay account is set to hold USD, it can also be withdrawn as Ethereum (ETH) and traded on a local exchange.
I am a non-US citizen with a non-US bank account, how do I withdraw?
Currently we do not support withdrawals to non-US banks. Of course, you can always hold your earnings in USD and then withdraw in crypto and cash out to your bank using a local exchange.
I am a non-US citizen *with a US bank account*, can I withdraw to my bank?
Unfortunately we only support bank withdrawals for US citizen, even if you have a US bank account.
When I get paid on SpankPay, do I get USD, BTC, or something else?
It's up to you! On SpankPay you have separate balances for USD, BTC, ETH, and other cryptos. In the SpankPay settings you choose your 'Holding Currency,' which is the currency that all your earnings are converted into. For example, if you choose BTC, all payments sent to you (even if in ETH or USD) will be converted into BTC in your SpankPay balance. If you prefer your earnings to be kept stable, set your holding currency to USD.
I switched my holding currency, but my balances didn't change?
Changing your holding currency only affects the conversion of future earnings, not your current balances.
My balance is changing, why is that?
Holding funds as cryptocurrency takes on the risk of the price fluctuations that naturally occur. If you would like future payments to be more stable it is recommended to update your payment holding to USD in your account settings. Any holdings currently in crypto cannot be exchanged within SpankPay.
I want to update my banking - how?
In your account settings, navigate to the banking section and click "Remove Bank" to remove your current bank. After that, you will be able to upload your updated bank information.
What do I put on the tax form (W9) - [U.S. Citizen (or green card) / U.S. Company]?
- Tax classification - Individual or company classification
- Tax Identification Number(TIN)
What do I put on the tax form (W8-BEN) - [Non-U.S. Person]?
- Country of citizenship
- [SKIP] Foreign Taxpayer Identification Number (TIN)
- Date of birth
What do I put on the tax form (W8-BEN-E) - [Non-U.S. Company]?
- Name of the organization
- Country of incorporation or organization
- Chapter 3 status
- [SKIP] U.S. Taxpayer Identification Number (TIN), if required
- [SKIP] Foreign TIN
What is a TIN?
A TIN or Tax Identification Number is issued by U.S government to citizens or companies in the U.S. These can be a Social Security Number(SSN) for individuals or an Employer Identification Number(EIN) for companies.
Where is the data stored?
Data is stored for purposes of identity verification, taxes, and banking.
Identity Verification is processed and stored with our partner Aristotle.
Tax Information is collected from all users (even non-US ones) in order to be able to remain compliant with US tax laws.
Banking information stored with our partner Wyre who processes our debit card payments and withdrawals.
I skipped steps when I first registered my account. How do I go back and enter the information?
To update your account, first login. On the next page, either click "account settings" at the bottom left of your web browser window or tap the three lines at the top left on mobile. Here you can select to update your profile, account, payment, banking, and security settings.
I've connected social links to my account. Where are they?
Your social links will appear on your public SpankPay Me page. (spankpay.me/"username")
I don't want to connect my bank account. Can I still use SpankPay?
Yes, SpankPay is a crypto solution first. You can always withdraw from your account in crypto to any crypto wallet.
My authenticator no longer lists SpankPay.
When setting up Two Factor Authentication(2FA), you will be given a code to restore access. Use this code to list SpankPay on your current or new mobile authenticator app.
I forgot my password. How do I reset it?
To reset your password, click here and enter the email address associated with your account.
An email with a link to reset your password will be sent to you.
If you don't see an email in your inbox, please check your promotions/spam section.
How can I integrate SpankPay into my site?
The Developer Documentation for the SpankPay SDK is here:
I'm trying to withdraw but it says my available balance is $0.
You may be trying to withdraw a currency you are not currently holding.
A detailed breakdown of your balances is available in the "Crypto Wallet" tab with additional withdrawal options.
Is there a minimum withdrawal amount?
The minimum withdraw amount is approximately $10 and can fluctuate due to network fee's.
How long do I have to wait until I can withdraw funds?
You can withdraw 100% of your earnings as soon as you receive them!
How long does it take for funds to hit my bank?
A withdrawal can take approximately 30 minutes to process and another 2-3 business days to arrive in your bank account.
What are the crypto / banking withdrawal fees?
We're working on making withdrawal fees completely transparent. At the moment, all our withdrawals are processed using crypto and are subject to ~$5 in network fees. Bank withdrawals are also an additional 0.75% (or $1 minimum) withdrawal fee. We are working on reducing our withdrawal fees ASAP, but in the meantime we recommend batching withdrawals to avoid fees.
How do I withdraw in crypto?
To withdraw in crypto, you can click the big pink withdraw button on your SpankPay dashboard (which will default to withdrawing from your largest balance). For more granular withdrawal options, click "Crypto Wallet" on the SpankPay dashboard home.
I changed my holding currency to Bitcoin, but when I try to withdraw from my balance it wants to convert it to ETH instead of BTC.
Your holding currency setting only affects future incoming payments. If your balance is in ETH it can only be withdrawn as ETH or USD. SpankPay does not support exchanging tokens.
How do I load my SpankPay account balance?
If you would like to send payments with SpankPay, you will first need to receive a payment from your SpankPay Me page.
To do this, guide users to your SpankPay Me page(spankpay.me/"username")
Here users can tip/pay with crypto, debit, or their own SpankPay account.
You can also always send a payment to your own SpankPay account.
I just wanted to know if I pay someone is my payment anonymous?
There are two ways you can pay anonymously:
- If you pay with crypto, your personal information isn't connected to your wallet address so the recipient won't know who sent it.
- If you pay someone via their SpankPay Me from your SpankPay balance (by clicking Login at the bottom of the checkout flow) your username will not be part of the transaction information they can see in their dashboard. If you want to reveal your identity, you can add your info in the tip note.
How do I pay other users with my SpankPay balance?
You can pay other users on their SpankPay Me site.
Got to their site spankpay.me/"username"
Enter the amount you wish to pay and (optional) a message below.
Click the Pay Me button.
Toward the bottom of the next page, click the button that says, "Have a SpankPay Balance?" to login to your account.
After logging in click the Pay Now button on the next page.
Are there any chargebacks?
Not on crypto! Our debit card processor also takes 100% of chargeback risk so there will never be chargebacks on your SpankPay payments.
How can I find a users SpankPay Me page?
If you know the username you can enter it at the end of the SpankPay Me address to go to their page.
What options do I have to pay?
You can pay with crypto, debit, or with your SpankPay account balance.
Current crypto supported: ETH, BTC, LTC, and USDC.
What is Wyre when I try to pay with debit?
Wyre is our debit card processor and banking partner. https://www.sendwyre.com/
What are the fees when paying with debit?
Please visit Wyre for more information on their debit fees.