If you want to know how Amazon pays royalties through Payoneer, then this article is for you.
Amazon pays authors’ book royalties through different ways but the option to receive eBook royalties through Payoneer was added some years ago. A lot of authors on Amazon KDP have found this option useful and convenient.
Amazon pays royalties through Payoneer: What you need to know
This is what you need to know about how Amazon pays royalties through Payoneer.
This is the way it works with Amazon and Payoneer in terms of receiving your royalties
Amazon pays after 60 days
Amazon sends your book earnings for December (for example) at February ending. There is a 60 days period your royalties sit in your account before it’s sent to Payoneer.
This is to allow for any refund to the customer if such issues come up.
So you may have royalties in your account that have not been sent to Payoneer.
Amazon sends an email showing royalties details
Amazon will always send an email to you some days before your payment is sent to Payoneer. Usually, they send payment to Payoneer on the 27th to 29th of the month.
Amazon deducts tax
You should know that Amazon deducts 30% tax from your royalties to be paid to US authorities if your listed country of origin does not have any tax treaty with the United States government.
Payoneer deducts charges
When your money gets to Payoneer, they deduct their charges too. Usually, $1 is deducted from each payment received.
Amazon pays each royalty from each of its stores separately. For example, they pay UK, US, and CA sales differently.
When each royalties payment gets to Payoneer, they deduct $1 from each.
If your royalties from UK or US or CA are not up to $1 they deduct everything!
Place a hold on your Amazon payment
If you are not selling many ebooks on Amazon, it’s better you place a hold on your Amazon payment and let them pay you quarterly. This will help you reduce the charges Payoneer deducts from each of the payments they receive from Amazon.
Amazon KDP and local bank account
Really, we are looking for the day Amazon will let Nigerians and some countries use our local bank accounts directly. Amazon only pays into local bank accounts in some selected countries in the world.
Pausing your Amazon royalties payment
Send an email to Amazon support to pause your payment. When you want to receive your payment, write an email to them to release it. They will pay the backlog immediately to your Payoneer account.
You can find Amazon contact details at the bottom of the page when you log in to your Amazon account dashboard. Click on contact at the bottom.
On the left side, you will find some categories of topics, click on the one for payment. To the right, you will see an option to send n email or phone call
Click the one for sending an email. You can follow the process to send your email.
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