Zombaio [OFFICIAL] ACH/SEPA/IBAN Release!

[Zombaio_Tomas]

!! New ZOMBAIO Payout Options !!

Zombaio [OFFICIAL] ACH/SEPA/IBAN Release!
October 2011



Zombaio are very glad to announce our new payout methods for the European and American market.

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ACH
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Finally we are able to pay American merchants with domestic bank to bank transfers and cut the expensive intermediate and international wire fees. This payout option is only available for USD accounts.

Price: $3.50 per transfer
earlier price $22.00 from zombaio and between $10 to $50 from the receiving bank

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IBAN/SEPA
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The new Single European Payment Area (SEPA) allows us to send cost effective and quick IBAN payments to all European countries (SEPA members) like the American ACH. IBAN/SEPA payments are quicker and much more cost effective. This payout option is only available for EUR accounts.

Price: €6.00 per transfer
earlier price €17.00

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USD CHECKS
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With a new check partner we are now able to send USD Checks cheaper and faster than before.

Price: $3.50 per check
earlier price $30.00



For existing clients:
To change payout method, login to ZOA and go to menu section: Tools -> Account -> Payout Information -> Change Payout Information. Before you start entering data you need to call och chat with support to get your ID Verification Code (valid one day) or login via a secure connection (SMS validation). This is to avoid account hijackings.


Enjoy!

[porn500]

Another zombaio success story

[DWB]

Good news on the IBAN price drop.

[Zombaio_Tomas]

Also note that you have to CHANGE payout method in ZOA from International Wire to ACH if you want this option.

All EU SEPA accounts will be updated automatically during Monday, you don't have to do anything.

[BIGTYMER]

Awesome news!

[AmeliaG]

This verification procedure is for your safety and protected. Please call or live chat with our support department to get your Merchant ID Key (valid for one day).

Enter the key below and press OK to continue with your update.

Phone: +1-650-230-0544 (option 2)
Live Chat: Chat Closed

[BIGTYMER]

I have a business account. Do I put Corporate or Personal? For the account type.

[Zombaio_Tomas]

Originally Posted by AmeliaG

This verification procedure is for your safety and protected. Please call or live chat with our support department to get your Merchant ID Key (valid for one day).

Enter the key below and press OK to continue with your update.

Phone: +1-650-230-0544 (option 2)
Live Chat: Chat Closed

Yes, you have to get the key tomorrow (Monday) or send a request via the ticketing system. This is for your safety.

Originally Posted by BIGTYMER

I have a business account. Do I put Corporate or Personal? For the account type.

Corporate

[Zombaio_Tomas]

Zombaio clients: Please also note that if you change payout method, it will be applied to all NEW payouts from the date you changed. The payouts already created and waiting for settlement will go with your current payout method.

[NetHorse]

This is great news!!!!!!

[lagcam]

Originally Posted by NetHorse

This is great news!!!!!!

Indeed it is. Maybe Redpass will materialise one day also

Incidentally, how long will one of these ACH payments take to hit a bank account? ie settlement date on a Monday, ACH hits bank when?

[Zombaio_Tomas]

Originally Posted by lagcam

Incidentally, how long will one of these ACH payments take to hit a bank account? ie settlement date on a Monday, ACH hits bank when?

This is a good question.

Since we are using a partner for the ACH payments, the payment will go to our partner 3 days before the settlement date. Our partner have 3-5 days to clear ACH transactions so settlement date + maximum 2 days for ACH.

Today for US int wires we settle funds on the settlement days and wires can be settlement date up to +7 days if intermediate banks are used. So this is a huge improvement.

[Captain Kawaii]

Great NEWS! We have changed our payment options...

[icymelon]

wow it was actually in motion. no lies

[shimmy2]

thanks for adding ACH

[cwd]

I have a US bank account in a Canadian bank.
I can get piad by ACH?

[lagcam]

Originally Posted by Zombaio_Tomas

This is a good question.

Since we are using a partner for the ACH payments, the payment will go to our partner 3 days before the settlement date. Our partner have 3-5 days to clear ACH transactions so settlement date + maximum 2 days for ACH.

Today for US int wires we settle funds on the settlement days and wires can be settlement date up to +7 days if intermediate banks are used. So this is a huge improvement.

That is great Tomas. I have never had a problem with the speed of your wires, it is just that annoying $20 intermediary bank charge that I didn't like.

[Zombaio_Tomas]

Originally Posted by lagcam

That is great Tomas. I have never had a problem with the speed of your wires, it is just that annoying $20 intermediary bank charge that I didn't like.

Yes, we are very glad that our customers won't have to feed the banks any more.

[Zombaio_Tomas]

Originally Posted by cwd

I have a US bank account in a Canadian bank.
I can get piad by ACH?

Will get back to you on this one.

[jreg81]

Now if your form would just accept my banks routing number this would be perfect! Called the bank to confirm it is indeed the correct routing number but your form still says its invalid. Funny, because its exactly the same info as you've had all along for wires. Talked to your chat support and said they would check on it and get back to us. Hope to hear something back soon. Will be great to save money on all of these wires fees. Nice to see improvements being made. Thats good business.

[Robbie]

Well, I just tried to enter my info..and it keeps telling me my routing number is "invalid". I've got my checkbook right in front of me and I'm looking at it. What's up with that?

[LA Crew]

Zombaio rox!

[Zombaio_Tomas]

Originally Posted by jreg81

Now if your form would just accept my banks routing number this would be perfect! Called the bank to confirm it is indeed the correct routing number but your form still says its invalid. Funny, because its exactly the same info as you've had all along for wires. Talked to your chat support and said they would check on it and get back to us. Hope to hear something back soon. Will be great to save money on all of these wires fees. Nice to see improvements being made. Thats good business.

Originally Posted by Robbie

Well, I just tried to enter my info..and it keeps telling me my routing number is "invalid". I've got my checkbook right in front of me and I'm looking at it. What's up with that?

We have looked in to this and it seems like the routing check we do with our banking partner is missing new routing numbers. We are looking into this right now and those of you who have problem entering routing number, please try again later today.

Are your routing numbers working in this check?
http://www.fededirectory.frb.org/search_ACH.cfm

[NetHorse]

/////////////////

[Zombaio_Tomas]

We just updated our routing database from 9,000 routing numbers to over 30,000 routing numbers. Those of you who had problems entering routing data should try again now.

If you still have problem, email me asap...

[CrocMint]

Are all the same payout methods available for affiliates too or for merchants only?

[cwd]

Originally Posted by Zombaio_Tomas

Will get back to you on this one.

Any news on this?

[Zombaio_Tomas]

Originally Posted by CrocMint

Are all the same payout methods available for affiliates too or for merchants only?

This release is for Merchants only. The new payout options will be available in the affiliate system around November 8

[LeivaMedia]

What about the RedPass

[Zombaio_Tomas]

Originally Posted by cwd

I have a US bank account in a Canadian bank.
I can get piad by ACH?

Hi cwd,
Unfortunately we will not be able to do ACH in Canada (only USA). However we will investigate Canadian options within a short time since we have many clients in Canada.

Meanwhile you can use either Int. Wire or USD Checks in Canada.

[Robbie]

Originally Posted by Zombaio_Tomas

We just updated our routing database from 9,000 routing numbers to over 30,000 routing numbers. Those of you who had problems entering routing data should try again now.
If you still have problem, email me asap...

That did the trick.

[Zombaio_Tomas]

Originally Posted by Robbie

That did the trick.

I'm glad to hear that

[JFK]

Originally Posted by Zombaio_Tomas

Hi cwd,
Unfortunately we will not be able to do ACH in Canada (only USA). However we will investigate Canadian options within a short time since we have many clients in Canada.

Meanwhile you can use either Int. Wire or USD Checks in Canada.

YES, dont forget the Republic of Canada

[Squirm]

I just can't express how glad I am that this has finally happened. A couple of months ago, I was actually working up a detailed written criticism to post here, and then I learned of the ACH trial. (I was invited to join, but then nothing came of it.)

ACH has been promised since I signed up with Zombaio back in January of 2010, "coming soon" for 2 years now. But if these lower fees genuinely apply to future payouts, I'll be much happier.

Some folks may shrug off various transfer fees as a cost of doing business, but what those fees actually do is raise the effective rate of processing.

It may be irrelevant now, but here's the math:

Take a hypothetical medium-performance adult site: Suppose you have your payout threshold set to $1000, and suppose your volume is just shy of $1,000/week. Under Zombaio's advertised rate structure for new customers, the processing cost is 10.9%. "Way back" 2 years ago, it was advertised as 4.9%, and then crept up to 8.9%, which I suspect is what a lot of you are paying these days. So I'll use 8.9% in this calculation.

But 8.9% isn't the end of it: A wire transfer costs $22 to originate from Zombaio, the intermediate bank takes about $20, and the receiving bank usually has a fee as well, in this case let's use $25. That's $67 lost out of every $1000 payout, or 6.7%.

Add that to 8.9% and the effective processing rate is (was) 15.6%! For those that started at 4.9% and watching the rates and fees slowly creep up, that's quite a difference!

But now, the advertised $3.50 fee for ACH payouts only works out to 0.35% of every $1,000, far far better. If you were getting 4 payouts a month and losing $268 in fees ($67 x 4), now that falls to just $14 in fees ($3.50 x 4), a savings of $254/month, or $3,048 per year! That's a new Kia every 3 years lost in fees!

So, if this works, I'll feel much happier about using Zombaio and may start directing more of my traffic and web clients there.

Now if only Zombaio would cut a break to those of us who signed up at 4.9% and have very, very low chargeback ratios.

[Zombaio_Tomas]

Originally Posted by Squirm

Now if only Zombaio would cut a break to those of us who signed up at 4.9% and have very, very low chargeback ratios.

Nothing is written in stone. Everything depends on volume and CB ratios. Drop me an email.

[cherrylula]

awesome to hear this.

[Robbie]

Quick unrelated question Tomas...On my dashboard it says I have a Chargeback Ratio of 1.52% over 30 days.

But when I go to search subscriptions and search for Chargebacks I don't see that I've ever had one.
???

[Zombaio_Tomas]

Originally Posted by Robbie

Quick unrelated question Tomas...On my dashboard it says I have a Chargeback Ratio of 1.52% over 30 days.

But when I go to search subscriptions and search for Chargebacks I don't see that I've ever had one.
???

Yes, please keep this thread to what it is about and questions regarding the new payout methods. Support will gladly help you with this question. I will ask them to contact you.

[kevlar1080]

I just requested a check payment to the U.S. but it still took out $30 in fees; this should be $3.50. Please take a look - user: strictly.bizness7

[Robbie]

Originally Posted by Zombaio_Tomas

Yes, please keep this thread to what it is about and questions regarding the new payout methods. Support will gladly help you with this question. I will ask them to contact you.

David got on that for me. I was looking in the wrong place. Thanks.

[Zombaio_Tomas]

Originally Posted by kevlar1080

I just requested a check payment to the U.S. but it still took out $30 in fees; this should be $3.50. Please take a look - user: strictly.bizness7

Kevlar,
It shouldn't if you have an USD account. Please open a support ticket for this.

Note:
Change will only affect NEW payouts being created. The ones already created will go with your old payout method.

[kevlar1080]

Originally Posted by Zombaio_Tomas

Kevlar,
It shouldn't if you have an USD account. Please open a support ticket for this.

Note:
Change will only affect NEW payouts being created. The ones already created will go with your old payout method.

Tomas, I did create a ticket and David responded,

Dear Kevin,

The new payout features will be made available to affiliates in November, until they have been released for affiliates I'm afraid the old prices still apply to affiliate payouts.

Best Regards,

David

Can you please make sure I do not get charged $30...if not I can simply wait til November...

Thanks for your help. Support ticket #213135