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02-06-2013, 07:31 AM | #1 | |
Wizard
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Amazon now offers EFT payment to UK & EU authors for Amazon.com sales
Authors in the UK and EU now have the option of getting their Amazon.com royalties paid direct to their bank account via EFT, instead of getting a cheque.
From https://kdp.amazon.com/self-publishing/help Quote:
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02-06-2013, 08:35 AM | #2 |
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That's good. I think Amazon are the only people who still send me cheques! They're getting pretty rare these days - I know I haven't written one for about two years.
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02-06-2013, 10:16 AM | #3 |
cacoethes scribendi
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No sign of Australia on that list yet.
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02-06-2013, 02:56 PM | #4 |
Wizard
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It's amazing that this should be news. Electronic funds transfer (aka direct deposit or bank transfer) has been the norm among businesses for many years now. It's hard to believe that Amazon has only just realised that.
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02-06-2013, 03:03 PM | #5 |
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More common in Europe I think? Many businesses in the US still use paper checks for a lot of transactions.
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02-06-2013, 03:49 PM | #6 |
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Yes, I believe many people in the US still pay bills by cheque? "Direct Debit" (the company withdrawing money directly from the customer's bank account) has almost entirely replaced it in the UK. Generally companies give you a discount for paying by DD, because it's a lot easier for them, too.
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02-06-2013, 03:57 PM | #7 | |
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Quote:
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02-06-2013, 04:02 PM | #8 | |
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Quote:
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02-06-2013, 04:11 PM | #9 | |
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Quote:
EDIT: I guess the direct debit term does get used some times, but the term I was thing of was ACH (Automated Clearing House) which is the overall system used. This system is also what's used when companies offer direct deposit of employee paychecks. Last edited by AnemicOak; 02-06-2013 at 04:16 PM. |
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02-06-2013, 04:42 PM | #10 |
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I haven't personally written a check in long while, but my wife still writes one or two a month. Sometimes because she has to, sometimes because she resists the electronic payment system for some inexplicable reason.
I've always gotten my Amazon/Smashwords/ebay/etc payments electronically, but lately, I enjoy when someone writes me a check, because I get to deposit it instantly from my smartphone, and that still amuses me. |
02-17-2013, 12:39 PM | #11 |
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Good news - that'll save a few pennies on paying the cheque into a UK bank. I found Natwest charged the least, think it was £5 per cheque.
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02-17-2013, 01:38 PM | #12 |
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Yes, I've had some cheques from Amazon which werent worth paying in - the charges would have been more than the amount.
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02-19-2013, 09:08 AM | #13 |
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Ah, this is excellent news! Especially since Natwest seem to have upped their charges to about 10% for foreign currency cheques.
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02-19-2013, 11:22 AM | #14 |
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02-19-2013, 12:04 PM | #15 |
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I like getting a cheque from Amazon, it makes it more real.
So they are paying dollar accounts in pounds now? That would be more useful, but it doesn't say what their conversion rates are? |
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