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Many content creators on TikTok are using the platform not just as an outlet for self-expression, but also as a means to earn real cash.
Through the TikTok Live Stream Program content creators earn TikTok diamonds, which can be converted into real money and withdrawn into a payment account like PayPal.
Here’s how to withdraw money from your TikTok account if you have earned through the platform…
How to Withdraw Money From Your TikTok Account
If you have earned diamonds through the Live Stream Program, you can view your TikTok balance and withdraw it to your bank account.
To view your balance and start a withdrawal, visit your profile and then click the three bars icon on the top right-hand corner of your screen. Tap Settings and Privacy, then Balance.
If you get a pop-up, tap Next until it disappears.
You’ll be taken to a screen that shows your coin balance and a small button at the bottom that says LIVE Rewards. Select LIVE Rewards to check your diamonds balance.
Here you’ll see how many diamonds you’ve earned for the day and the diamonds you’ve earned in total. TikTok Diamonds and Coins are two in-app currencies.
To withdraw your earnings, you can click the Withdraw button on the LIVE Rewards screen.
A diamond is equivalent to around $0.05 USD. However, you should note that TikTok retains a few dollars after this conversion.
Withdrawing TikTok Earnings Using PayPal
After agreeing to the terms and conditions, you’ll be asked to log in to your PayPal account and then type the amount you’d like to withdraw.
Your request will be reviewed and then processed. It could take up to 15 days for your money to get to your PayPal Account.
It can take an additional number of days for your money to be sent from your PayPal to your bank account unless you choose a faster withdrawal method that would cost you a few extra dollars.
The minimum amount you can withdraw from TikTok to PayPal is $50 and the maximum you can withdraw is $1,000 per day. So if you have $5,000 in your TikTok balance you can withdraw this in five days by taking out $1,000 each day.
Problems Sending Money to PayPal
If you notice that the money you are trying to send keeps bouncing back or going back into your TikTok account, it may be due to a couple of reasons. Firstly, TikTok only sends money to verified PayPal accounts.
To verify your PayPal account you need to link and confirm a bank or link and confirm a card. If you’re new to PayPal, here’s a guide to setting up your PayPal account to receive payments.
You may also encounter problems sending money if the first and last name, as well as your email address on TikTok, doesn’t match the details you use on your PayPal account.
If you are still encountering problems, you can contact TikTok support using the app. Click the three bars icon on the top right of your profile.
Tap Settings and Privacy, then scroll down to Report a Problem. Select this then scroll down and tap Submit a Report. Here, you’ll be able to explain the issue and attach screenshots or screen recordings. Once you are done, hit Submit.
TikTok Can Help You Earn Cash
TikTok is continuously evolving to offer more features for both creators and their followers. It has grown to become more than just a video-sharing platform.
The gifting feature for instance, now allows followers to support the influencers they love. Meanwhile, the cash-out feature allows creators to make serious money using their creative work through the content they produce.