Sponsors - Help Non US Affiliates With Wires

[mcfester]

For myself and I'm sure lots of others these coming months are going to be difficult for non US affiliates getting paid from sponsor programs.

Very few sponsors are now offering epass and I would expect by now very few affiliates wouldn't want to take the risk.

Checks are time comsuming and costly, and totally out of the question for some due to postage problems. The postal service in Asia is well known for its unreliability but on a whole international post sent unregistered is likely to get lost, whether its lost on US side or foreign its just a waste of time.
I'm still waiting for an epass ATM card sent twice to UK, and about 17 checks from ccbill also sent to UK before I realised they hadn't changed my minimum payout as requested, it cost me $20 deduction stop payment fee for each check even though they was all over six months so regarded as 'stale checks'. So no thanks for checks.

Wires are the safest and quickest option for most but also this has drawbacks. Firstly the fee most sponsors charge is expensive, and secondly the minimum payment is also way over acceptable from most sponsors.
Some sponsors are offering wires for $20, others for $50 with minimums of $250 up to $1000. I can understand sponsors wanting to cut down workload by increasing the minimum payout for wires but I haven't seen any banks that have a minimum amount for wire transfers. Most sponsors are making money on the transfer fee and with online banking transfers take very little time.
Affiliates used to regural Epass payments of around $100 month from many sponsors are now looking at waiting several months for payouts, obviously this void in receiving funds is going to be a major problem for some and the added cost of wire fees from each sponsor will reduce income further.

Looking at this realisticly, until a better option is available and used by the majority of sponsors the wire option is going to be first choice for most.
I'm hoping sponsors will understand we are all in this mess together, some deeper than others but we need to find solutions.

I'm no expert here but wire transfer costs can be reduced by sending the amount in the receivers own currency, whether its done direct from the sponsors bank via FX Global Transfer or through a reputable broker, fees can be reduced to half in some cases depending on the amount transfered.
Minimum payouts need to be lowered, if an affiliate needs funds desperately why should one have to wait months when the funds are there and just require a simple online transfer? If one chooses to lose some dollars because requesting lower transfers more often than others thats the affiliates choice, the money has been earned, the money is there and the money is needed. If the money wasn't needed one would wait until the next payout and save a transfer fee, obviously.

It would be appreciated if sponsors could add their thoughts and suggestions to this and also to any other options available for sponsors and affiliates as a whole.

Thanks.

[CashGordon]

It is the banks that have no mercy. US to US transfers are no costy, but with international transfers each bank gets a part of your money while it travels. A USD transfer between EU bank to EU or EU to US costs a lot more than $50. Actually it may end up to $100 on the final sum. So it makes no sense to make this transfer for $250 and loose $100. You should really blame banking system for that.

[klinton]

how about different payout method similiar to epass ? wiresare too much hasslefor those making less than 200 with one sponsor....

[erooup]

Originally Posted by CashGordon

A USD transfer between EU bank to EU or EU to US costs a lot more than $50. Actually it may end up to $100 on the final sum.

I dont know what bank you have, but I can send money to any place in the world, and it dont cost me a dime. I have been doing that for years now with no problem.

[BJ]

Originally Posted by erooup

I dont know what bank you have, but I can send money to any place in the world, and it dont cost me a dime. I have been doing that for years now with no problem.

ok which bank. would LOVE to know who does this for biz accounts.

[erooup]

Originally Posted by BJ

ok which bank. would LOVE to know who does this for biz accounts.

Go to your bank, get a online banking setup, Tell them you need to know your IBAN account number.

[BJ]

Originally Posted by erooup

Go to your bank, get a online banking setup, Tell them you need to know your IBAN account number.

which bank lets you send wires for free you retard

[erooup]

Originally Posted by BJ

which bank lets you send wires for free you retard

My bank is called Nordea, but you cant use that, since you are located in Asia "you retard". That is why I told you what you should with your own bank.

But if you want to stay in your 1995 keyboardwarrior mindset, and send wires by showing up in the bank and fill out a paper-form, then its your choise and your problem.

[BJ]

Originally Posted by erooup

My bank is called Nordea, but you cant use that, since you are located in Asia "you retard". That is why I told you what you should with your own bank.

But if you want to stay in your 1995 keyboardwarrior mindset, and send wires by showing up in the bank and fill out a paper-form, then its your choise and your problem.

where did I say anything about showing up to a bank. Even if you send a wire online you will pay a fee. you cannot send a wire for free from nordea bank or any other bank on the planet.

http://www.nordea.dk/sitemod/upload/..._0110_NY .pdf

Product
Cut-off time for receipt of the payment instruction (1)
Netbank / branch
Maximum execution time
Credit value date and availiability in the receiving bank Netbank / branch
Via Netbank (5)
Via branch
Nordea Payment in Nordea currencies to Nordea units (2) (6)
13.00/11.30
0 - 1 / 0 - 1
40
125
EU Payment (3)
13.00/11.30
0 - 2 / 0 - 2
15
30
Ordinary transfer (6)
13.00/11.30
0 - 2 / 0 - 2
40
125

Nordea charges DKK 100 for payments up to DKK 100,000 or equivalent. As regards amounts exceeding DKK 100,000 or equivalent, the foreign bank’s charges will be applied if they are known. If not, DKK 200 will be charged and subsequently adjusted. Additional fees may be charged if the payment is to be handled by several banks.

[erooup]

Originally Posted by BJ

Even if you send a wire online you will pay a fee.

As I said, it dont cost me a dime. There are no fees when sending money as a Ordinary transfer when using a IBAN account number, because that way the bank dont have to spend time checking the transactions. Sending to a IBAN account number means there are no routing involved.

[Vjo]

If the wire cost is $100 how about lowering the minimum from say $1000 to $500 and charging the affil $50 of the fee. Then the affil can get at the money if needed and all is win-win. Keep the wire free for those at $1000 min.

A sliding scale as it were. Simply pass some wire costs on. That would be ok with me.

[CashGordon]

Originally Posted by erooup

I dont know what bank you have, but I can send money to any place in the world, and it dont cost me a dime. I have been doing that for years now with no problem.

My US bank charges $30 for wires and my German bank charges $42 (32 Euro) for wires. You are forgetting the US intermediary bank which is between source and destination bank for USD wire transfers. They get a piece from the wire as well. Which is like $30-40. If money travels more banks, each continue to get a piece. Even for EU to EU IBAN transfers the bank charges around 30 Euro. In my all business life, i did not hear any international bank doing wires for free. As you say maybe there are but not in US or EU. But I have also heard there is a new system for EUR IBAN transfers which might be free, but this is not for USD.

[Blatino]

Just started another thread about wires, both domestic and international.



erooup - US Banks don't use IBAN numbers, SWIFT numbers are used for international transfers.

I think the whole attitude towards wires is ridiculous. My bank does not charge me for wires - domestic or international. I'm in the USA.

[McSpike]

Originally Posted by CashGordon

It is the banks that have no mercy. US to US transfers are no costy, but with international transfers each bank gets a part of your money while it travels. A USD transfer between EU bank to EU or EU to US costs a lot more than $50. Actually it may end up to $100 on the final sum. So it makes no sense to make this transfer for $250 and loose $100. You should really blame banking system for that.

$100, not even close. WAY less. Ask me. This is EU to EU state to state. Anyone heard of SEPA? No? Well there's your reason for misinformation for inside EU economic zone wire transfers. If your banks are charging you this much for Inside EU wires then god bless you for staying with them.

I proposed this solution before:
You open an account in US, in EU, in ASIA. The you wire the total batch sum from your main bank to each of the "sub-accounts" you have opened on each continent. Then you do "inside continent" wires, which cost WAY less than doing each from your main bank.

The bigger the sum, the smaller the % they take away from your batch sum wire to other "sub-accounts".

It's all up to the abilities of the sponsor, their knowledge, the interest to adapt, etc...

When approached to some sponsors asking them how about adding checks to their payout options, quite a few never heard of webmasterchecks (this has been a very good choice until the DA went to vacation and still hasn't come back) or chexx inc. WTF? Seriously WTF?! And at the time there was also Partner Payments (went tits up after). Seriously, if these sponsors didn't know about the basic options available to them, how would they ever be able to open a few more accounts worldwide. Especially with porn behind the operation. This is a silly problem, but if you ask me, only the best programs will be able to accommodate what I propose. The rest are just not capable.

[McSpike]

Originally Posted by erooup

As I said, it dont cost me a dime. There are no fees when sending money as a Ordinary transfer when using a IBAN account number, because that way the bank dont have to spend time checking the transactions. Sending to a IBAN account number means there are no routing involved.

You've never sent the wire to US from EU, right? IBAN... Just like the US folks who ask you to give them a routing number to wire you money to EU. And when one doesn't exist in EU they will ask you for, watch it here it comes, "an international routing number". The term doesn't even exist.

Jesus F... Christ!

[McSpike]

Originally Posted by erooup

My bank is called Nordea, but you cant use that, since you are located in Asia "you retard".

OMFG! Like really? No shit, how come I have accounts for my companies outside of the countries they have a presence in?

I guess I am retarded and they let me.

[Barry-xlovecam]

At ACWM and XloveCam we pay out by wire free with a 100 € minimum.

[erooup]

Originally Posted by CashGordon

My US bank charges $30 for wires and my German bank charges $42 (32 Euro) for wires. You are forgetting the US intermediary bank which is between source and destination bank for USD wire transfers. They get a piece from the wire as well. Which is like $30-40. If money travels more banks, each continue to get a piece. Even for EU to EU IBAN transfers the bank charges around 30 Euro. In my all business life, i did not hear any international bank doing wires for free. As you say maybe there are but not in US or EU. But I have also heard there is a new system for EUR IBAN transfers which might be free, but this is not for USD.

IBAN account number, and yet you keep takling about routing. No wonder they charge you money.

[erooup]

Originally Posted by Blatino

Just started another thread about wires, both domestic and international.



erooup - US Banks don't use IBAN numbers, SWIFT numbers are used for international transfers.

I think the whole attitude towards wires is ridiculous. My bank does not charge me for wires - domestic or international. I'm in the USA.

IBAN are used globally, but most places you need to ask for it.

[erooup]

Originally Posted by McSpike

I guess I am retarded and they let me.

Looks like it.

[erooup]

Originally Posted by McSpike

You've never sent the wire to US from EU, right? IBAN... Just like the US folks who ask you to give them a routing number to wire you money to EU. And when one doesn't exist in EU they will ask you for, watch it here it comes, "an international routing number". The term doesn't even exist.

Jesus F... Christ!

All my hosting, partners and commision are payed to people (mainly in the US) through wire.

But keep going forward with your keyboardwarrior approach, I am sure you will go far. I told you how to solve your problem if you are paying to much for wire, but I guess your pride and ego are getting in the way of progress for you.

[erooup]

I have said what I wanted to say on the topic. Take it or leave it. If you are paying for your international wires, you are cheating yourself.

[willwank]

Originally Posted by erooup

My bank is called Nordea, but you cant use that, since you are located in Asia "you retard". That is why I told you what you should with your own bank.

But if you want to stay in your 1995 keyboardwarrior mindset, and send wires by showing up in the bank and fill out a paper-form, then its your choise and your problem.

I have a Nordea account too and it is not free for me to wire money from my online banking. I pay an outgoing fee of approx $30 to Nordea and an incoming fee of $10 here in Canada.

[McSpike]

Originally Posted by erooup

But keep going forward with your keyboardwarrior approach

You started with the "retard" remarks, remember?

Saying EU bank would be of no use to someone in Asia and praising IBAN like it's the real worldwide deal shows you need to do some more business before you can comment such topics.

[Lightning]

Originally Posted by Vjo

If the wire cost is $100 how about lowering the minimum from say $1000 to $500 and charging the affil $50 of the fee. Then the affil can get at the money if needed and all is win-win. Keep the wire free for those at $1000 min.

A sliding scale as it were. Simply pass some wire costs on. That would be ok with me.

We have only a $10.00 wire fee, and We can pay you Daily, Weekly or Monthly as long as you have just a $100.00 minimum balance.

[Alprazolam]

sponsors are no longer kissing asses. business relationships must be equally profitable. the lost ability to fuck over the surfers is going to come back on equaling the relationship between traffic providers and content providers(programs). like it or not, the squeeze on affiliate traffic is not over. sponsors won't eat those fees, that's just the way it is. i am an affiliate first, and run a program second. my sponsors are squeezing my balls. don't look for sponsors to eat a 50 dollar fee on a 250 dollar wire or anything close to that anytime soon.

[mcfester]

Originally Posted by CashGordon

You are forgetting the US intermediary bank which is between source and destination bank for USD wire transfers. They get a piece from the wire as well.

An intermediary bank is only needed for USD transfers from banks outside US, not from banks in US.
And even if a bank is outside US an intermediary bank is not needed, maybe you jumped the gun and didn't read all of the OP...

wire transfer costs can be reduced by sending the amount in the receivers own currency

This can be done from any bank anywhere in the world to any bank anywhere in the world very easily online. All you need is a name, account number and IBAN or SWIFT (BIC).
If your bank can't do this you need a new bank thats not stuck in the 90's.

Originally Posted by BJ

http://www.nordea.dk/sitemod/upload/..._0110_NY .pdf

Nordea charges DKK 100 for payments up to DKK 100,000 or equivalent.

Why did you only paste part of the sentence?

If the remitter wishes to pay all charges, Nordea charges DKK 100 for payments up to DKK 100,000 or equivalent.

The fee is 15DKK to an EU bank and 40DKK to any other bank anywhere in the world.
Thats 2.5USD and 6.8USD
And even if the sender pays all charges, his bank and the receiving banks charges is only 17USD

[Wizzo]

Smartbucks doesn't charge our affiliates any wire fees and also has lowered the min. payout to $300 on wires.

http://www.gofuckyourself.com/showthread.php?t=986998

[willwank]

Originally Posted by mcfester

An intermediary bank is only needed for USD transfers from banks outside US, not from banks in US.
And even if a bank is outside US an intermediary bank is not needed, maybe you jumped the gun and didn't read all of the OP...

This can be done from any bank anywhere in the world to any bank anywhere in the world very easily online. All you need is a name, account number and IBAN or SWIFT (BIC).
If your bank can't do this you need a new bank thats not stuck in the 90's.



Why did you only paste part of the sentence?

The fee is 15DKK to an EU bank and 40DKK to any other bank anywhere in the world.
Thats 2.5USD and 6.8USD
And even if the sender pays all charges, his bank and the receiving banks charges is only 17USD

Nordea operates in a range of northern european countries. Fee structure vary.

[kowalsky]

For us the cost for each wire is $50. We don´t like to charge affiliates the whole fee, that´s why our minimun payout was high. Now with all the epassporte mess of course that things must change. We are trying to find a godd balance of minimun payout and minimun wire fee for affiliates. We don´t want to make money with wire, we don´t want to lose it either. We also don´t want affiliates to make them wait so much for money, or we don´t want to charge them so much for a single wire.

It´s all new so it´s gonna take some time to know what the best for all of us, but I am sure in the end everything will work fine!