Kindle Revises Payment Plans – For the Better

New FlashI received the following message in my inbox recently. It means that many of us won’t have to wait to reach a certain amount before we are paid royalties for our books.

The message reads

We’d like you to know about an important update to your Kindle Direct Publishing (KDP) account.  As of December 16, 2013, the minimum threshold amount has been removed for accounts selecting Electronic Funds Transfer (EFT) as their payment method.*  You will now be paid 60 days after the month your royalties are earned without needing to meet a minimum threshold amount prior to receiving payment.

You will receive an EFT payment from KDP for any royalties earned that were previously under the minimum threshold. To see if you have royalties awaiting payment, check your Royalty Reports at: http://kdp.amazon.com/self-publishing/reports
 
While there is no action necessary, you can review or update your EFT banking information by Amazon marketplace any time, by visiting the “Your Royalty Payments” section in your KDP Account at: http://kdp.amazon.com/account
 
Kind regards,
The Kindle Direct Publishing Team

*Note: The EFT threshold for royalties earned from sales on Amazon.com.br is still R$20 for Brazilian publishers and $100/£100/€100 for non-Brazilian publishers.

Bugsy2

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9 thoughts on “Kindle Revises Payment Plans – For the Better

    • Thanks, Art. Yes, great news for all writers, and the December 30th royalty payments will be looked forward to. It will be interesting to see how much the bank will charge for the wired money to be received. This is a new service offered to Canadians, so I haven’t read anywhere what the service charge will be, if any.

  1. Thank you for explaining everything so clearly to me. I’m on your mailing list and I always check out your new posts. I’m also stalking…I mean, following you on Twitter. You’re very helpful and I like the way you share your work, and the process you follow. I was going to comment on your Twistmas cover (and I love the title, btw), but I decided not to because you’re far more expert and have lots more experience in this.

    Mind you, all I really wanted to say was that I liked the ‘clothesline’ one best…so there, I’ve stuck my nose in. And no, don’t let my opinion sway you at all. I’m not visually-oriented enough to know what’s best.

    Thanks again.

    • Hello, Nikki, and welcome to my blog comment section. I am happy to help other writers who are where I’ve been. We all start out at the beginning. I remember when I first started; I didn’t know a thing about self-publishing. I’ve read the blogs of many other writers who kindly shared their experiences. As I see it, we’re all in this together.

      Thank you for your input into the Twistmas cover. I really that one too.

  2. Thanks for the info, Diane. I hope this comment doesn’t get posted twice because I had trouble logging into WordPress. As a Canadian, how would I arrange for Electronic Funds Transfers? Does this mean PayPal?

    • Hello, Bea. Electronic Funds are set up in your Kindle Account. It’s not through PayPal. The money is directly deposited into your bank account, so you’ll have to go to your account information and enter information for a bank account. You’ll also have to choose the EFT instead of receiving royalty payments by cheque. This is something new for Canadians. Up to a month or so ago, Canadians didn’t have an option; they had had to get a cheque and the amount of the cheque had to be $100. So there have been a few positive changes with regard to Kindle.

      Thanks for visiting my site and leaving a comment.

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