The Cost and Changing Face of Doing Business
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Recently Amazon.com sent an announcement to many of the publishers they’ve been working with announcing some changes. One important change involves the way they want to pay publishers in the future.
If you want to continue being paid by check, Amazon.com will comply–but at a cost. They will not write checks until the dollar amount owed to you reaches or exceeds $100 and they have tacked on a cost of $8 for each written check.
You do have another option, however. It’s having them electronically transfer the dollars to your account. This will be done at no charge and the money will be transferred as soon as they receive it.
Getting Banks on Board
To me, this sounded like a no-brainer. Do I want my money right away and not have to pay for it, or do I prefer to pay $8 to get a check in the mail, which may take weeks or longer? I couldn’t understand why many publishers were outraged about the electronic transfer. I have been paying my bills by transferring funds from my account into other accounts for ages. It’s easier for me to do this. Lots of times, I’m on the road during key bill-paying times and I forget to write the checks before I leave. Then I spend the entire traveling time worrying about that which I forgot. To avoid this problem, I spoke with my local banker and set up electronic transfer to pay my bills. And if anyone wants to deposit dollars into my account, they can do so by electronic tra…IBPA Members – Click here to view the full article (login required).
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