Just a tip, from someone who’s had a PSP account t for years: Wise is quite excellent. Every one of my tips, products, subscriptions, etc is through Stripe, but it’s not approved by Amazon because it doesn’t give users an account number and routing number.
Thanks for the info. I got the impression from their many tedious emails that Revolut has jumped through sufficient hoops to be an actual bank. We'll see.
Incidentally I am a tax accountant who ended up in publishing ;-)
Amazon is not being fully truthful here. I've banked with a traditional brick-and-mortar FDIC bank for decades, direct deposits from all over. Signed up for KDP a few months ago. They said my bank doesn't accept deposits. I have a letter from my bank saying different. Retried several times. Nope, nope, nope.
I think KDP doesn't want to do business unless they can collect kickbacks from their PSP partners.
Complaining about corporations on a site run by a corporation is so tedious. Amazon doesn’t owe you squat, most KDP authors are probably a net negative for them. And as Sally said above, if this makes a dent in the rampant plagiarism and fraud, good.
While I am an American who has a credit union, I'm putting myself in this situation trying to understand why a company would do this? Does it actually affect their bottomline or did someone in their vast system successfully argue we can do this more efficiently? Who knows. The company is so big at this point that trying to understand will be reverse engineering some executive's mind through a series of decisions that doesn't make sense when it finally reached us. So, let's all call it stupid.
The problem is they for some reason won't accept my Payoneer. It keeps getting rejected. The bank I had before: rejected. The two other accounts? Rejected. And I sure as frick don't make enough book sales to get a brick and mortor account. I'd pay more in fees in a single month than book sales for the past 5 years (my book sales abysmal, and KDP is making it even harder).
Big corporations doing weird things that make sense only to them and hurt their clientele .... check! I swear every big company disappoints.
Just a tip, from someone who’s had a PSP account t for years: Wise is quite excellent. Every one of my tips, products, subscriptions, etc is through Stripe, but it’s not approved by Amazon because it doesn’t give users an account number and routing number.
Luckily Wise is also on the list. Thanks for this!
Thanks for this! Good thing I’ve been using a participating PSP ever since :)
Very helpful article
Thanks for the info. I got the impression from their many tedious emails that Revolut has jumped through sufficient hoops to be an actual bank. We'll see.
Incidentally I am a tax accountant who ended up in publishing ;-)
I hadn't heard about this, so it was helpful. Cheers, my friend.
Amazon is not being fully truthful here. I've banked with a traditional brick-and-mortar FDIC bank for decades, direct deposits from all over. Signed up for KDP a few months ago. They said my bank doesn't accept deposits. I have a letter from my bank saying different. Retried several times. Nope, nope, nope.
I think KDP doesn't want to do business unless they can collect kickbacks from their PSP partners.
I'm sorry for your trouble, Amazon can be real pain in the a$$ :/
Complaining about corporations on a site run by a corporation is so tedious. Amazon doesn’t owe you squat, most KDP authors are probably a net negative for them. And as Sally said above, if this makes a dent in the rampant plagiarism and fraud, good.
Good stuff, Marcin!
I locked them out.
I think this is Brilliant!
Why?
Who else does not have a legit bank?
Scammers and fraudsters and AI bots generating slop.
This is genius
Thank you Amazon
And remember: https://substack.com/@derreklennox/note/c-297366365?r=842sma&utm_medium=ios&utm_source=notes-share-action
While I am an American who has a credit union, I'm putting myself in this situation trying to understand why a company would do this? Does it actually affect their bottomline or did someone in their vast system successfully argue we can do this more efficiently? Who knows. The company is so big at this point that trying to understand will be reverse engineering some executive's mind through a series of decisions that doesn't make sense when it finally reached us. So, let's all call it stupid.
The problem is they for some reason won't accept my Payoneer. It keeps getting rejected. The bank I had before: rejected. The two other accounts? Rejected. And I sure as frick don't make enough book sales to get a brick and mortor account. I'd pay more in fees in a single month than book sales for the past 5 years (my book sales abysmal, and KDP is making it even harder).
This is NRTM.
I don't know any of those acronyms, and trying to read it HMB.
So I won't! Sorry.
<smh>
Thanks for this. I didn’t know that was going on, but I sure will check.