How often do I get paid? When do I get paid?

How often do I get paid?

Assets earn income depending on harvest cycles. When producing, beehives and blueberry bushes earn twice a year while solar panels earn each month. Both beehives and solar panels take time to swarm and install respectively. This means there may be a delay before your asset starts production.

Farming assets typically take time to generate income. Bee colonies require time to mature and increase the volume of honey, wax and propolis they can produce. You can expect a lower income in year one, with increases over the next nine years of the hive’s life. 

Read more about the annual projections here.

To ensure that bank charges do not eat into your profits, only balances of R300 or more are paid out into your personal bank account from your Fedgroup Wallet. You can leave the money in your Fedgroup Wallet or you can contact us to activate payment and we will automatically pay you out every time your balance exceeds R300. You may therefore wish to own more Impact Farming products, to ensure a more regular payout. If you choose the interest-bearing Fedgroup Wallet option, all of the money in your account accrues interest until it is paid out to you. You can turn the interest on your Wallet account balance on or off by going to the profile section in the App.

When do I get paid?

Solar: Payments are made monthly. Returns will increase over time in line with energy price increases. Payments only start when the panel is installed and starts generating electricity. If you are pre-buying the asset, you will be notified when this occurs.  

Honey: Payments will be made in the second and fourth quarters annually. The first harvest will be lower than average as the hive is still maturing, but this has been factored into your projected returns. As the hive and bee colony matures it produces more honey and your returns will increase. 

Blueberries: Payments will be made in the first and fourth quarters annually. The first harvest will be lower than future harvests as the plant is still maturing, but this has been factored into your projected returns. Therefore, expect a lower-than-projected income in the first year, and then watch your income increase in subsequent years.

Please note that the timing of all payments is subject to change because of the nature of farming itself. Payment timings are dependent on factors such as weather (drought will mean a later honey harvest for example) and when the invoice is paid for the crop (for example with solar, when the landlord settles the invoice to Fedgroup, the Impact Farmer is then paid). 

Was this article helpful?
36 out of 42 found this helpful

Comments

0 comments

Please sign in to leave a comment.