Warning - this is a complicated one.
This is a real 'have you read the terms and conditions' moment - so to prove I have, I've posted the bit that's confusing me below.
'Please note that you can change your threshold at any time but it must be submitted by the first day of the payment month to be effective. For example, if you would like to raise your threshold to $500, it must be entered by 3/1 to be effective for January earnings paid in March. If you change your threshold to $1000 on 3/15, if will be effective for February earnings paid in April.'
Ok - here's my dillemma - I will have to pay a fee in the UK when I bank my Amazon check. My plan was to raise the threshold just before I reach it, each month, so that I'm not paying outloads of £10 fees on $100 checks - but I didn't want to just go ahead and put on a massive threshold in case it all went pear shaped, and I just wanted to take the money and run.
I wasn't expecting a check for ages but I think by the end of this month I will have $100+ in the account (if I am right in thinking that they will roll over last month's $20). So I went to change the threshold, then read the explanation above, and now I am really confused.
My interpretation is that the money I earnt in May and June would've been payable in July, if it had reached the original threshold of $100. If I move that threshold up today, which is before the 1st of July (the paymet month) will that mean the money rolls over, and maybe I'll take a bigger check next month?
Or shall I just set the threshold at $1000 and make sure the check I get is one I can really enjoy and the £10 fee won't make as much of a dent in? If I set it at $1000, I won't get a check until the end of the month after the month I hit that threshold in?
Sorry - I've confused myself again just writing about this.
Wow, Spacey, $100 already? I haven't hit the $100 mark YET!! I must check out your Hubs to see what you're doing right!
Amazon is very slow to pay - like Lisa said, they're about 2 months behind. So you should have plenty of time to adjust the threshold as you see the money climb.
I wouldn't be too greedy though - I've heard a couple of Hubbers mention that high value checks have gone missing and it's very hard to get them reissued. So maybe you should just set it at $200 or $300 and accept you're going to lose $10 of it each time - rather than risk not getting it at all!
In the UK can you have your earnings dropped in a PayPal account? That could allow the minimum payout to get to your hands without fees. Just a thought.
If only - nope its a check, or I read somewhere I can open a $ bank account in the UK - but to keep it simple I'm sticking with the check for now. Not moaning about the bank fee, I knew about it from the start - just trying to work oiut the best way to avoid paying it too often. Really hadn't anticipated getting any money this early.
Amazon payments are two months behind, so since you didn't reach the minimum payout until June, you won't get the cheque until August (unless you change your payout threshold of course). So if you want to change your payment threshold you can, and yes monies do roll over.
There doesn't seem much point to me in keep upping the threshold each month - just set a figure you're happy with
Thanks Susana - I guess its because I've only just started and I'm not sure how quick it will accumulate - so I didn't want to set it too high and then never see it, but I guess if I set it high and then business slows, then I can go back and put the threshold at a lower level, just a little above what would be sitting in the account already?
Thanks Marissa - good advice there. I haven't got $100 in there yet - its just over $60, but I'm waiting for 14 items to ship so I guessed I'd be at $100 or nearly by the end of the month, well close enough to need to look into the check situation anyway.
Pleeeeeaaasse don't check out my hubs. They are not beautiful like yours. They are really not what I set out to do- I just learn better by doing, so every time I read about researching keywords or backlinking, or layout of hubs etc, I would put up a few hubs based on what was selling well on Amazon. I just wanted to build up a big bank of hubs to play about with a learn. Now I have a plan of the niche I want to write about, I will probably create a new account. I like the idea of having a professional alter-ego working on a niche, with a really smart profile page and inter-linked hubs, and then keeping Spacey up as my fun / exploring account.
Spacey Gracey, check with your bank. Here in Spain they charge a percentage fee which is capped at different levels. So you might find the right threshold depends on how you get charged in the UK.
Thanks - even more good advice. I really should've sorted out the bank account stuff at the start but everyone said it would be ages before I got a check. Sold another $200 worth for Amazon today - think that should at least qualify me for a Christmas card now
You should've seen what mine looked like when I started! I did much the same thing - published 55 Hubs right off the bat (mainly because I was out of work at the time). Then didn't publish any more for ages (back at work) but tweaked endlessly!
OOooh might try and find them. Really hard to know when to stop tweaking and walk away - luckily I have an incredible short attention span which seems to suit HP well - so I can do 15 mins on forums, 15 mins on keyword research, 15 mins adding to a new hub, 15 mins tweaking an old one
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