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Should publishers/distribution platforms for Indie authors offer ACH (direct deposit) ?

  1. Yes

    2 vote(s)
    66.7%
  2. No

    0 vote(s)
    0.0%
  3. I'm so rich I don't care if anyone else gets paid

    1 vote(s)
    33.3%
  1. Ohmo

    Ohmo Banned

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    Getting Paid by Indie Publishers/Distribution Platforms

    Discussion in 'Self-Publishing' started by Ohmo, Apr 12, 2018.

    I looked at payment methods of a number of Indie Publishers/distributors (especially aggregators with multiple distribution channels) and came away disappointed. Not that I'm not interested in time travel, but I think paying authors in the 21st century should use 21st century methods. To wit: direct deposit (DD) to the author's bank of choice.

    Amazon and Create Space (pretty much the same thing, any more) pay by DD. Draft2Digital, a newer and smaller platform, offers both Paypal and DD. The older Indie Publishers/aggregators such as Smashwords, refuse to pay via DD, and when asked refuse to offer any sensible reason. At least in my opinion, "Paypal is secure" is a nonsensical response when asked about direct deposit since banks, I believe, are much more secure than stand-alone processors. Unless it's changed in five years since I closed my account with them, they still collect their fees from account holders and make them beg for their own money before it is released from the Paypal holding pen.

    I'm not an expert, but my understanding is that ACH, the banking industry standard for electronic funds transfers, costs less and is more efficient than credit card or other types of payment processing. A google search for "ACH processing fees" brings back more than 290,000 articles on the issue, so anyone wanting information can easily grab some.

    I know some people absolutely love Paypal or some other payment processing service, and I'm not suggesting you give up your romantic interests. I just think that when reducing payment processing fees for publishing/distributing platforms could increase royalty payments for authors. With that in mind I hope you wont' hate me for pointing out their drawbacks.
     
  2. big soft moose

    big soft moose An Admoostrator Staff Supporter Contributor Community Volunteer

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    amazon and D2D offer payment by paypal, DD or cheque ... smashwords will pay by cheque (in the US only), or paypal

    EOTD if you don't like smashword's payment methods use Draft to digital instead
     
  3. Ohmo

    Ohmo Banned

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    EOTD?
     
  4. ChickenFreak

    ChickenFreak Contributor Contributor

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    Are you positive that it costs less from the very first transaction—that is, that setup for ACH is easier and involves less labor and expertise from the small business in question? I’m guessing that it may be cheaper in volume.
     
  5. big soft moose

    big soft moose An Admoostrator Staff Supporter Contributor Community Volunteer

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    End of the day

    Thing is they are a service provider -they are completely within their right to pay only by paypal, cheque or indeed in small green monkeys if they choose

    if you don't want to receive your royalties in small green monkeys you can go elsewhere but you aren't able to demand they change their practices to suit you
     
  6. Ohmo

    Ohmo Banned

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    I did preface that statement with, "I'm not expert, but my understanding is..." My opinion was built on half a dozen or so articles I read on the issue. I wouldn't be surprised if there are other articles I did not see supporting your guess.

    EOTD I am scratching my head trying to figure out how you determined I said anything close to what you I stated or even implied concerning any business's rights or that I demanded anything from anybody. Of most concern to me is why two old hands are attacking me instead of discussing the issue.
     
  7. big soft moose

    big soft moose An Admoostrator Staff Supporter Contributor Community Volunteer

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    No ones attacking you - we are just saying that there's no issue to discuss... so smashwords don't pay in a manner you'd prefer, so what... you are free to use someone who does.

    It's like starting a thread about the 'issue' that Macdonald's don't server filet mignon

    Personally I'm with D2D so its a non issue for me ... although the lack of bank transfer payment wasnt the principal reason I didn't go with smashwords. The main reasons were as outlined here https://justpublishingadvice.com/draft2digital-vs-smashwords-review-one-clear-winner/
     
    Last edited: Apr 14, 2018
  8. ChickenFreak

    ChickenFreak Contributor Contributor

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    If you consider this level of mild disagreement to be an attack rather than discussion...well, that strikes me as a problem. Does “discussion” always start with agreement?
     
    big soft moose and BayView like this.
  9. big soft moose

    big soft moose An Admoostrator Staff Supporter Contributor Community Volunteer

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    Hes's been banned... probably not unconnected to the abusive pm he sent me (did you get one too or am I speshul ?)
     
  10. ChickenFreak

    ChickenFreak Contributor Contributor

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    Huh. No, I didn’t. Should I feel snubbed?
     
  11. big soft moose

    big soft moose An Admoostrator Staff Supporter Contributor Community Volunteer

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    You didn't miss a lot
     
  12. MarcT

    MarcT Active Member

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  13. big soft moose

    big soft moose An Admoostrator Staff Supporter Contributor Community Volunteer

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    They don't anymore - I honestly can't remember whether they did a year or so a go or not, I must have had a good reason for thinking they did but I don't know what it was - plus these things change all the time.

    Seems to now be the case that people who need alternate payments for whatever reason (like not having a bank account in an acceptable country for DD payment) are using Payoneer which is to all intents an online American bank account - I don't since my UK bank account provides an Iban etc for payment from amazon

    Amazon Associates (the afilliate link service) offer payment to you amazon voucher account , which can be handy since mostly the amounts involved are small and easily lost in a main bank account … you do have to remember to make a note of them for tax purposes however
     

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