FairSeas Payment FAQs
Everything you need to know about crew commission payments
50%
Crew Commission
100%
Transparent
Fast
Prompt Payouts
Payment Basics
How much commission do I earn?
As a FairSeas enrolled crew member, you earn 50% of every xplor net charter commission generated by your yacht. This is automatic and guaranteed.
Example: If your yacht generates a net $10,000 charter commission through xplor, the crew splits $5,000 (50%).
When do I get paid?
You are paid promptly after the charter is successfully completed and xplor receives the commission payment from the client or broker.
Charter Completes
Your yacht successfully fulfills the charter booking
xplor Receives Commission
The client or broker pays the commission to xplor
You Get Paid
Your share of the 50% commission is immediately processed to your account
Does xplor hold my money?
No. We don't hold your commission payments. Once xplor receives the charter commission, your crew share is processed immediately. There are no minimum amounts, no waiting periods, and no delays. Your money flows directly to your bank account as soon as it's available.
How is the crew commission split among crew members?
xplor currently has 3 distribution calculators. They are FS1, FS2, Equal Share. Using one of these optional methods the individual is divided among all FairSeas-enrolled crew members on your yacht. Each crew member receives their share automatically.
Example: If there are 5 enrolled crew members and the crew share is $5,000, each crew member receives $1,000.
Payment Methods & Banking
How do I set up my payment information?
You can set up your payment details in your account settings. We support two methods:
Stripe Connect (Recommended)
Fast, secure, and handles all international payment complexities automatically. Setup takes just a few minutes.
Direct Bank Transfer
Add your bank account details directly. We support international banking systems including IBAN, SWIFT, ACH, and more.
What bank information do I need to provide?
The required information depends on your bank's country. We've made it simple by asking for the correct details based on your banking location:
🇺🇸 United States
- • Routing Number (ACH)
- • Account Number
- • Account Holder Address
- • Bank Address
🇪🇺 Europe (IBAN)
- • IBAN
- • SWIFT/BIC Code
- • Account Holder Address
- • Bank Address
🇬🇧 United Kingdom
- • Sort Code
- • Account Number
- • Account Holder Address
- • Bank Address
🌏 Other Regions
- • Country-specific codes
- • BSB (AU/NZ)
- • Transit # (Canada)
- • + Addresses
Is my banking information secure?
Absolutely. All banking information is encrypted using industry-standard security protocols. Your data is stored securely and never shared with unauthorized parties.
Bank-Level Security
We use the same encryption standards as major financial institutions to protect your sensitive information.
Can I receive payments in different currencies?
Yes! If you're using Stripe Connect, multi-currency support is automatic. For direct bank transfers, payments are typically sent in USD, and your bank will handle the currency conversion based on their exchange rates.
Transparency & Tracking
How can I track my commissions?
Your FairSeas dashboard provides complete transparency into all your commission earnings. You can view:
Active charters and their commission amounts
Completed charters and earned commissions
Pending payments and their expected dates
Complete payment history with transaction details
Your total earnings year-to-date
Will I be notified when I receive a payment?
Yes! You'll receive email notifications for all commission payments, including the charter details, commission amount, and payment confirmation. You can also enable push notifications in your account settings.
What if there's a dispute about a commission amount?
Because FairSeas is built on complete transparency, all commission calculations are visible in your dashboard. If you have questions or concerns about any payment:
- 1. Review the charter details and commission breakdown in your dashboard
- 2. Contact our support team with the specific charter reference
- 3. We'll review the transaction and respond within 24 hours
Common Issues
What if my payment hasn't arrived?
First, check your dashboard to confirm the payment status. If it shows as "Completed" but you haven't received it:
Bank Transfers (2-5 business days)
International transfers can take 2-5 business days. Check with your bank if it's been longer.
Stripe Payments (1-2 business days)
Stripe payments are typically faster. Check your Stripe dashboard for detailed transaction information.
If it's been longer than expected, contact our support team with your transaction reference number.
Can I change my bank account information?
Yes, you can update your bank account details at any time in your payment settings. Changes will apply to all future payments. Any pending payments will still go to your previously registered account.
What happens if I leave the yacht?
Your commission eligibility is based on your roster status at the time of the charter:
- • Active during charter: You earn the commission even if you leave afterward
- • Leave before charter: You won't earn commission for that charter
- • Payment timing: You'll still receive any earned commissions after leaving, whenever Xplor receives the commission payment
Do I pay taxes on my commission earnings?
Yes, commission earnings are taxable income. You are responsible for reporting and paying any applicable taxes on your earnings according to your local tax laws. We recommend consulting with a tax professional for guidance specific to your situation.
Xplor provides annual earning summaries to help with your tax preparation.
Still Have Questions?
Our support team is here to help with any payment-related questions or concerns.