How To Get Paid From Amazon Associate and KDP Via Transferwise?

Ebooks has become recently become more popular since Covid pandemic and many readers prefer nowadays to download ebook for casual reading rather than going out to bookshop and shopping to avoid exposure to  health risk . therefore being  an ebook publisher or author you are aware that you could get more sale as well as huge royalty from KDP ( Kindle Direct Publishing) platform rather than any other ebook platform such as Apple iBooks, Google Play store, Kobo etc.,

While many American  -local  citizen in the United States are very blessed with  easy access to the Most US banks  because they  can get their royalties  directly deposited to their  US bank account,  where else , for foreign publisher and authors it is normal practice to  wait for their  Monthy Check payment  from Amazon ..recently  there has been some changes  and  since last year  you can get paid from Amazon associate by using  Transferwise  US  account services via a routing  direct to Your USD bank account

How To Get Paid From Amazon Associate and KDP Via Transferwise?

Under Normal  Situation , Amazon associate’s Affiliate members   likewise   with  foreign publishers and  authors under  the Kindle Direct Publishing (KDP) platform only transfer royalty they  received from Amazon.com and amazon’s marketplace located in their respective  country  . For example, if you are from Australia  then royalty you received from amazon.com and Amazon.in marketplaces are directly deposited to your  australian’s bank account through Electronic Fund Transfer (EFT) and there is no Minimum threshold limit for EFT. But the royalty you earned from another the major   US based Amazon marketplace and their branch  such as amazon.ca, amazon.co.jp, amazon.es etc can only  be received via checks only if your royalty amount crosses the minimum threshold limit of individual marketplaces. Now with  Transferwise  - USD account service, all has changed .

We are  going to tell the easier and cheaper  way to receive the royalty from all the Amazon marketplaces and deposited directly to your bank account with the help of  Transferwise via a US routing account  . You don’t need to wait until it reaches the Minimum threshold limit. It’ll be automatically credited to your local bank account once your royalty reaches the payment date.

An example of  various Direct transfers from Amazon to Affilaite  via Transferwise 

What Is TransferWise ?

Transferwise is a global Payment company that provides Online Money transfer, e-payment services, cross-border wire transfer, and debit card services for Businesses and individuals. TransferWise  account holders have the option to receive funds into their local bank account or through debit card and the best route to receive your payment  from AMAZON – US -this is good news for Amazon  and others major US Based Affiliate Service providers , typically for    affiliate members  under the Amazon Associate and KDP  for  all NON USA   , as Transferwise has made it  easy to  setup for  their Routing account .

 

Sign Up And Get Paid From Amazon associate  Via Transferwise

You should go to TransferWise ‘s  website and fill the basic details such as your name, email address, Date of birth, residence address etc., and at last, you need to select any of the identity proof such as Government Issued ID card, Driver’s License or Passport and provide the ID details. Once you are done with everything, go ahead and click the submit button.  

TransferWise Sign Up

Login to your Transferwise account, go to  menu and select “To bank account” option. Enter your bank account details such as Account Number, account name, and branch details.

During the review process TransferWise  may ask you to submit the Scanned copy of your ID proof to activate your account so make sure that you have a scanned copy with you and this process may vary by Country. Your application will be submitted and pending for review.

Transferwise takes one to two business days to review and activate your TransferWise Account. You’ll can  get the virtual US, EURO and UK bank account details in your  TransferWise account.

( Optional ) If your country is eligible to receive Transferwise Debit  Card then it’ll take 15-20 Business days to get Transferwise delivered to your local address.  

Upon Approval from TransferWise -Your new USD account details: These are your shiny new USD details. Please use them for all transactions now, and make sure to give them to anyone who pays you. Note: You’ll have one number for both ACH and wire payments.

Your New USD Virtual account  comes with some nice benefits:

Link with your bank accounts, Stripe, PayPal, and other platforms to move money

Use a single routing number for ACH or wire payments  

Receive unlimited USD from inside the US

The new details are free, and you don’t have to do anything more than use them in place 

Support- Online Guide  from Transferwise 

  

HowTo Find Your Virtual US Bank Account Details In TransferWise?

Login to TransferWise account and go to Receive -> Global Payment service. Select the Payment service Option as USD. Now you can able to see your virtual US Bank account details on the page. Note down the details in notepad.

HowTo Update Your TransferWise Account In Your KDP?

Login to your KDP account. Go to your account details section by clicking the Account link displayed at the top right corner of your KDP account. Scroll down to ”Your Royalty Payment” section at the bottom of the page. Select the Edit button under the “Your Bank Accounts” details. You can see the “Edit bank account information” pop up the screen.

Enter the following details

Select “United States” as your Bank Country.

Enter Your “TransferWise” Name in the Account holder name field

Select “Checking” as your Account Type.

For the “Bank Name”, “Account Number” and “Routing Number” use the US Payment Service information provided to you by TransferWise.

Review the details once again and click the Done button.

Now you have successfully updated your virtual US bank account details to KDP. Next step is to update this information to all Amazon marketplaces. At the bottom of this section, you can see the list of market places, Click the button to open the amazon.com and choose to Pay my royalties as EFT and Currency as USD. Now you can see the bank account details populated below. Repeat the same steps for rest of the Amazon marketplaces and at last, don’t forget to click the Save button. That’s it you’re done.