Would you cash out instantly once you reach payout?
By jshekhar
@jshekhar (1562)
India
February 18, 2009 3:04am CST
Hello friends,
All the members here, have or would soon reach payout. My question is that would you cash out as soon as you reach the payout, reducing your mylot earnings to 0? Or would you wait for some time?
I would wait for some time. The reason is, if I have $15 in my account and I withdraw $10, the remaining would be stuck in my account for some time, until I reach the next payout. I would suggest that we wait until we reach $20, and then we withdraw $10, so that our account balance is always more than the minimum payout and we can withdraw the entire amount when we are in some urgent need of money.
What do you have to say?
1 person likes this
4 responses
@agirlfromtomorrow (290)
• Egypt
18 Feb 09
For one whose account doesn't even contain the first 1$ yet, I feel that if ever reach a payout I would instantly cash them.
1 person likes this
@jshekhar (1562)
• India
19 Feb 09
Don't lose heart, girl. We all start off with making a few cents daily and gradually they add up to your payout. The key is to keep on participating without caring about the money and all of a sudden you will find yourself with a few dollars.
thanks for responding
1 person likes this
@aisaellis22 (6445)
• United States
26 Feb 09
Hello jshekhar! I guess we can't do it way. Whatever we earn at the end of the month as long as it is above our minimum payout we will get all of that that would make our earnings in mylot to zero. I guess it's better that way because $10 every month is not enough for monthly income..hehehe..
Anyway, I made more than $10 every month..
@chaitra001 (3278)
• Bangalore, India
18 Feb 09
Hi jshekhar in mylot the payment is processed automatically to your paypal on the 15th of the month if you have reached the minimum payout. And as I know we can draw only $10 and leave $5 in account, but you can set your minimum payout to more than $10 check the FAQ for more details. Happy myloting.
@Canellita (12029)
• United States
7 Mar 09
I look at any money I will earn through myLot as extra pocket change. I have not set up my payment information just yet and I am trying to decide if I want to set the amount higher so that when I get the money it will be enough to do something special or extra. I'll have to see how much I earn over the next few months. I am going to need the extra money most over the summer when school is out of session.
