Faire currently only pays brands based in Latin America in USD via an ACH deposit. For Latin American companies without a US bank account that can receive USD, it is common to use a global payout provider to obtain a USD-receiving account that can be linked to Faire. This guide explains how to set up payouts so you can receive payment and easily convert USD to your local currency.
How to obtain a US routing number
You can sign up for a multi-currency account with the provider of your choosing to obtain a U.S. routing number. When creating an account with one of the options below, please ensure you create a business account, not a personal account.
We recommend using one of the following:
Adding your USD account details to your Faire account
Once you have a U.S. routing number, you will need to add the following information to your payout tab:
- Account holder name
- Routing number
- Account number
How to set up your payouts in your portal
To set up your payout information in your account:
- Log in to your Faire brand dashboard after onboarding to Faire
- Go to Settings > Payouts or Account Settings > Payout Information
- Enter your legal business name, registered address, and tax information (international brands submit the appropriate tax classification/form)
Ensure your legal name matches your bank or payout provider account name exactly to avoid payout delays.
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.
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 USD 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 USD 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.