A number of Amazon U.S. affiliates are trying to get the affiliate payment. Many individuals from a different part of the world are trying to do so. Someone from the countries like UK and USA can get paid through direct bank deposit. If you are from countries like India, Bangladesh, Pakistan, Srilanka, Nepal or others, it is not possible to access direct deposit.
How to Withdraw Amazon US Affiliate Payment by Using Payoneer?
Payoneer is a service like PayPal that is used for obtaining and sending payments. It permits a user to get Euro and U.S. bank routing number that is used for getting payment from several services. Nowadays, they have made tie-ups with a number of services and their reach is also enhancing.
You may search for tutorials about the Payoneer on the Internet. It is possible to make an account on Payoneer. While making a transaction of $100 by using this platform, you will obtain a bonus of $50.
How to Make a Free Payoneer Account?
If you have an active Payoneer account or it is activated, it is recommended to login to the dashboard of Payoneer. By clicking on global payment service and the subsequent page, it is possible to obtain the account information regarding USD. You may log in to the dashboard of Amazon US affiliate. By clicking on account settings, come to “change payment method”. Here it is necessary to put the details of the US account of Payoneer.
If you are an associate from the United States, select the alternative “Pay me by direct deposit”. After filling the required information, click on submit button. Make sure that you have provided tax information that is must get the payment. If you miss providing tax information, your payment will be delayed.
The Problem to Get Affiliate Payment through Cheque
Cheques are the old way to send money. They are still used somewhere extensively. Most companies have chosen direct bank transfer to send money to their affiliates, clients or anywhere in the world. In the case of Amazon US affiliate payments, it takes approximately one month before the arrival of the cheque.
Afterward, you deposit it in the bank and it will take several days to credit the payments to your account. Sometimes the cheque does not arrive since it is simply lost in transit. In this circumstance, you need to ask Amazon for sending you another one. It will take a couple of months again before the well-deserved money.
How does Payoneer Help in This Regard?
By using Payoneer, you can overcome the problem of cheques. In this way, your payment can be transferred straight into your bank account. To accomplish this, a service of Payoneer can be used. It is called Global Payment Service. By using this service, it is possible to give instruction to Amazon for transferring your payment into a virtual bank account in the USA.
This virtual bank account will be supported by Payoneer on your behalf and name. Once, the payment is transferred by the Amazon to the virtual bank account, it is possible to withdraw it into your bank account. This process takes approximately a few days to be completed.
Fees and Exchange Rates of Payoneer
Let us know some important information regarding the fees and exchange rates of Payoneer.
- Withdrawing Funds – Transferring funds to your bank account is free in Payoneer. It denotes that you are eligible to get the accurate amount of euro or dollars that are sent to you by the company
- Getting Payments – It is absolutely free to get both Euro and US payments in Payoneer.
- Exchange Rates – You will get the finest rate of exchange compared to other financial services in the world like PayPal. Conversion rates on Payoneer are based on the mid-market rate while transferring it. Mid-market means the middle point between the buying and selling rate.
Online tools are available for calculating the mid-market rate. Besides this, 2% is charged for currency conversion. It is the only fee of this platform for obtaining money to the Payoneer account, transferring and withdrawing money from your local bank.
Purpose Code of Payoneer
Purpose code illustrates the nature of the foreign exchange transaction. It helps RBI for classifying and identifying the transactions with the foreign exchange. You require selecting the code which portrays the transactions of your business. This code would be several trade fair services and advertising for Amazon US affiliate. These services involve social media, SEMs, SEOs, internet marketing, and web designing.
It is possible to get payments from Amazon products easily even if you are not a citizen of the US. You do not need to make a US bank account with a Payoneer account to get paid. A virtual bank account is created by Payoneer on your behalf. The earnings from Payoneer will be transferred over there. Moreover this, you can use this platform to get money from Infolinks, Commission Junction, Fiverr and others.