All brands in Australia and New Zealand will receive payouts in local currency through Adyen, a third-party payment service provider, to facilitate order payouts. We encourage you to set up your bank account once you complete onboarding on Faire to ensure you have no issues receiving payouts. If you do not complete this setup after onboarding, we will prompt you to complete this process at the time of your first order.
Linking your bank account
To set your bank account up, go to your Faire Account Settings page and navigate to the Payout section. You can then select Edit Payout Information to get started.
Adyen will verify your information and once complete, all Faire payouts will begin depositing into the bank account you choose to connect, based on your payout terms with Faire. To learn more, visit What are my payout options?
Your payouts will not be initiated until your bank account is verified by Adyen.
For your security, our payment partner may require additional information in the following non-exhaustive scenarios:
- If provided information is updated
- If there are discrepancies or verification issues with the submitted documents.
- During periodic compliance reviews
- If there are regulatory changes that require updated verification.
Once the required data is provided and the bank account is verified by Adyen, payouts will be re-initiated.
Our payment partner may request additional information to verify your account once you reach a certain sales threshold on Faire (AU$1,000 or NZ$1,000).
Can I have more than one bank account?
At this time, we are only able to facilitate one bank account per brand account. This means that all of your orders on the platform will be paid out in one currency to one bank account.
Please do not link more than one bank account to Adyen.
To learn on how to edit your bank details, please refer to the article: How do I change my bank information if I’m located outside of North America ?
How are my payouts converted?
If you have provided currency specific pricing for your products, retailers in those locations will see and pay the price you input for their local currency.
Your payout will be paid in the currency shown on your Brand portal based on the exchange rate on the date the order was placed then converted to your local currency based on the exchange rate on the date the order was placed.
If you have only provided AUS/NZ pricing to Faire in your Shop currency, we will still show your retailers a converted price in their local currency and update this based on the daily exchange rate.
Additionally, your payout will be converted from pricing in the currency shown on your Brand portal to AUS/NZ based on the exchange rate on the date the order was placed.
To read more about how to set up prices in other currencies, visit Currency specific pricing.
Payout calculation breakdown
You can see a full calculation of your payout under your Orders tab by clicking on the order's detail page. Scroll to the You got paid! section and select View Payout Summary. There you will find a detailed breakdown of the payout.
This section will include any additions to your payout such as shipping fees, handling fees, or sales tax, as well as any deductions, including processing fees, promotions, or commission. You will also be able to export a Payouts CSV on the Orders tab.
Please note, that if you have shipped your order using the Ship on Your Own option, the shipping cost will be separated into two lines. The first will show what the retailer paid in shipping and the second will show the additional amount that you were reimbursed by Faire. These two numbers combined will equal the total shipping cost that you paid.