Chapter Three
What to Look for Before Registering.
It's obvious that if you want to make money with taking surveys online, then you should only go after the paid ones. These panels come in plentiful as the last time I checked it was nearly 30 of them that pays out cash. However, this is not to say that these payments wouldn't come without some kind of obstacle first. They're what I call the "payment trio" which I've put together and it includes: payment thresholds, payment per surveys, and payment processing.
Each of those three areas are indicative to how you're going to make the best of paid surveys. Payment processing is very important, since you'll want to know when your money will actually be in your Paypal account after redeeming for a "cash out." I personally use this formula to determine which site I will join and its helped me to make more money in a time efficient way. Before you get into making your decision about which survey panels to choose, first I would like to explain in detail each of these three areas of payment trios.
Payment Thresholds
Every paid survey site online has a set payment threshold or starting point before they would release the money to you. They're many sites that will pay you $1-5 when you sign up but you cannot redeem this money until you have at least earned up the threshold amount. Usually it begins at a minimum of$10 but most are $20, $30 & $50. If you want to redeem your money at the earliest, then you'll need to sign up with panels that offer the lowest "cash outs."
The term "cash out" or "cashing out" is the same as redeeming your for cash. You'll need to set up a Paypal account, that's if you don't already have one, to receive payments into your Paypal account. A lot of people who are new to taking paid surveys often talk about, how they're not getting paid and the length of time it takes to get paid. Looking at the site's payment threshold will give you a good idea of how quickly you'll get your money.
Each threshold needs to be looked at carefully to give you some clarity on how quickly you can redeem in a month. In detail below, I will demonstrate with threshold payments of $10, $20 $30 & $50 and calculate the times in a month that you can cash out. I will use the average pay and qualification frequency of each survey taken, to help you determine how much you can put into your Paypal account.
Threshold Payment of $10 (you need at least $10 to redeem for cash)
$1.50 (avg. pay per survey) x 2 (qualified surveys a day) = $3 (a day)
$10 (threshold amount) divided by $3 (survey payment per day) = 3 approx. (days to reach threshold)
31 (days in a month) divided by 3 (days to reach threshold) = up to 9 times of redeemable payments per month.
You will likely "cash out" or redeem your $10, every 3 days or for up to 9 times a month. This will give you a total of about $90 a month.
Threshold Payment of $20 (you need at least $20 to redeem for cash)
$1.50 (avg. pay per survey) x 2 (qualified surveys a day) = $3 (a day)
$20 (threshold amount) divided by $3 (survey payment per day) = 7 (days to reach threshold)
31 (days in a month) divided by 7 (days to reach threshold) = about 4 times of redeemable payments per month.
You will likely "cash out" or redeem your $20, every 7 days or about 4 times a month. This will give you a total of about $80 a month.
Threshold Payment of $30 (you need at least $30 to redeem for cash)
$1.50 (avg. pay per survey) x 2 (qualified surveys a day) = $3 (a day)
$30 (threshold amount) divided by $3 (survey payment per day) = 10 (days to reach threshold)
31 (days in a month) divided by 10 (days to reach threshold) = about 3 times of redeemable payments per month.
You will likely "cash out" or redeem your $30, every 10 days or about 3 times a month. This will give you a total of about $90 a month.
Threshold Payment of $50 (you need at least $50 to redeem for cash)
$1.50 (avg. pay per survey) x 2 (qualified surveys a day) = $3 (a day)
$50 (threshold amount) divided by $3 (survey payment per day) = 17 (days to reach threshold)
31 (days in a month) divided by 17 (days to reach threshold)= about 2 times of redeemable payments per month.
You will likely "cash out" or redeem your $50, every 20 days or about 2 times a month. This will give you a total of about $100 a month.
One other thing I forgot to mention is that they're a few paid survey panels which actually requires lesser to NO thresholds at all for you to redeem for cash. In the next chapter, I will show you in detail a list of which ones you need to check out!
Payment Per Survey
Every individual paid survey taken has a value in money and if qualified you'll receive it after completion. This value can usually range greatly anywhere from $.25 to $50 a survey. To my experience, it averages about $1 to $5 a survey but at times you can find some a lot lower and higher. Many high paid surveys are done in lengthly case studies, which you must complete over a set time period for you to get paid.
The payment per survey will play an important part in not only how much you'll make but if its wise to even take it in the first place. You don't want to waste all of your time on a survey that pays very little money. Sometimes you may come across a survey that only pays $.35 for about 25 min. This is quite low compared to many others that would pay you around $2-3 for the same amount of time given.
Just remember if a survey that pays you less, it doesn't mean that your chances of qualifying for it would be higher. To get qualified for more surveys, you must throughly complete your profile information in the survey account. This will give you more frequent surveys but if the surveys are low in payment amounts, then you can make it up in the higher frequency. For example, some sites would send you up to 15-20 surveys a day and you might only qualify for 5-6 of those with different payments per survey.
In the example below, you can see how low payment amounts could be made up in high frequency. This is based on 5 and 6 qualified surveys a day at various low amounts under a $1.00.
Example:
$.25 (payment per survey) x 5 (surveys) = $1.25 (day)
$.35 (payment per survey) x 5 (surveys) = $1.75 (day)
$.50 (payment per survey) x 6 (surveys) = $3.00 (day)
$.70 (payment per survey) x 6 (surveys) = $4.20 (day)
Again, you must fully complete your profile to receive a higher amount of surveys. As a result, the money from with frequency would make up for the lack of lower paying surveys in the day. In later chapters, I will go into detail with my list of which survey panels that pay the most per survey. I will also talk about the different GPT or "Get Paid To" sites, which falls under the many ways to make more money with low payments.
Payment Processing
Payment processing deals with both how you will be paid (Paypal 0r check) and long it takes to be paid after cashing out. This has to be the most important since everything else can seem to be going fine, until you find out it takes 2-4 weeks to get your money after cashing out. Sometimes this can be understood if you have a higher threshold for example, a $30-50 cash out could take up to 2 weeks or so to have the money in your account. Having a low threshold with long payment processing is what you need to avoid if you want to be paid quickly.
Survey panels that pays out cash usually do it with Paypal or another online payment site, but some of them still choose the old way with sending checks. This is totally up to you how you want to be paid, but for me I love having my money delivered as quickly as possible. Checks can sometimes take up to a month for processing before it's mailed out. Not to mention, it'll probably take you a month just to redeem for a cash out.
If you want to cash out for a $25 check, waiting up to 2-4 weeks to get it can be a real pain. Paypal is faster but some panels would still wait a few days, after you have already redeem for a cash out. This is an important situation since for whatever unknown reason that my arise, you would want have to quick access to your funds immediately. Choosing the wrong panels with long payment processing could have you taking surveys and not getting paid until literally the following month after redeeming for it.
However, the good news is they're survey panels that will pay you instantly after redeeming for cash. This is also in the form of Paypal and it comes no later than 24 hours. I have paid many bills with a number of survey panels, as it was in my Paypal account within minutes after cashing out. This combination of low thresholds and instant payments, makes it the fastest way to earn a supplemental income taking surveys.
In the next chapter, I will give you my top dedicated list of paid survey panels. Again, I will explain each one in greater detail by applying it with the payment trio. Afterwards, hopefully you can get a more clearer understanding of why you should join them.
See you in the next chapter!