There are no monthly or yearly fees to a SYLC platform basic profile usage. In the near future the SYLC premium profile will be available on charge. Every donator is charged for the donation value & any additional costs created by his/her bank and payment institute for any reason.
Every donator after that completes the donation will receive two emails. One from the payment partner (Viva or PayPal) regarding the financial procedure of the transaction and a second automatically from the user that created the campaign with the invoice/payment receipt on behalf of the Club or Athlete.
SYLC platform charges 0.50€ every donator plus a flat net fee of 5.00% per transaction on the value of every transaction through Viva. For PayPal services (available from 10.10.2021) there will be a flat net fee of 7.50%. Those fees can be subject to change at any time. Those fees are automatically deducted from the total amount being paid to any Clubs & Athletes (SYLCers). The platform will always publish a notice in case of any change in the above policy. Promotional events or new services are always subject to the platform commercial policy.
There is no miminum available amount for withdrawal. Every Club & Athlete (SYLCers) barried with the additional cost to transfer the amount from their SYLC wallet to their bank/payment institute account. Clubs & Athletes (SYLCers) are burder with any additional fees, after the withdrawl from the platform, occurded by their bank/payment institute that have officialy declare during their registration to the platfrom. Clubs & Athletes (SYLCers) are also responsible for paying all fees and applicable taxes assciated to the usage of the platform. In all withdrawal requests there is a flat charge of 2€/request. For that reason we strongly suggest to procced with withdrawal requests for more than 100€. Bank deposits take 2-5 business days to arrive from the time they are sent.
SYLC platform don't charge or procced any of the above fees, for payments that are declined before the check out is completed successfully. In case of chargeback, Clubs & Athletes (SYLCers) aggred to be liable for any associated costs or payment of funds in case that money has been sent already to Clubs & Athletes (SYLCers).
We work with payment partners that facilitate the safe transfer of funds for your campaign. Our payment partners all perform verification on your personal information to ensure that funds are sent to the correct individual or organization.
If our payment partners need more information, you will receive an email from them or from SYLC directly asking to upload an identity document (driver’s licence, passport, national ID) or a bank statement (in printed or digital form). This extra information is to ensure your account’s security and to confirm that funds can be withdrawn to your bank account.
If you receive one of these emails, you’ll be prompted to follow a link to upload the necessary documentation. We recommend checking back within 1-2 business days on your SYLC account to see if information is still required or if the verification process is complete. If you experience trouble uploading these documents, please contact our team.