Copywriters, taking in $6000+ a week, how do you receive your funds?

by 25 comments
Copywriters who take in $5k - $10k + a week, from your copywriting clients and the jobs you do for them,

how do you take in these funds?

What is the best way you have found?

1) paypal
2) bank transfer? wire transfer?
3) 2co, or other processors?

for those of you who do 2) wire transfers, then how do the clients pay you ?

Do you give them your bank number details, to put the money in,

and do they just go into their bank, and say they want to pay you?
Are they senders banks ok with this ? or they will ask them, what is the reason for sending $5k + in single transactions?


EDIT:
How about 1shoppingcart, and 2co etc, would that be an option? or will they give questions to answer,
or they understand high payments for such services? ?


#copy writing #$6k #copywriters #funds #receive #taking #week
  • Profile picture of the author Michael Ten
    What sort of copyrighting would one be doing to earn 6k per week copyrighting? Sign me up!
    • Profile picture of the author entry
      Originally Posted by Michael55555 View Post

      What sort of copyrighting would one be doing to earn 6k per week copyrighting? Sign me up!
      haha, i was just using that number as an example.

      Some copywriters charge $7000- $10,000 per sales page.

      so they charge high.

      (and i was using the fact that you are charging a high amount for a service)
  • Profile picture of the author Justin Quick
    Originally Posted by entry View Post

    Copywriters who take in $5k - $10k + a week, from your copywriting clients and the jobs you do for them,

    how do you take in these funds?

    What is the best way you have found?

    1) paypal
    2) bank transfer? wire transfer?
    3) 2co, or other processors?

    for those of you who do 2) wire transfers, then how do the clients pay you ?

    Do you give them your bank number details, to put the money in,

    and do they just go into their bank, and say they want to pay you?
    Are they senders banks ok with this ? or they will ask them, what is the reason for sending $5k + in single transactions?



    A good old-fashioned paper check!

    It only took me one time of receiving a front-end payment
    of $3,500 and losing an uncomfortable chunk of it to "fees"
    to never, ever, ever do it again.

    I love Paypal and the service they provide. But, in my
    opinion, no processor deserves over $100 just for taking
    money one place and putting it in another.

    A bank-wire would be fantastic, but that seems to be a
    lot of work for the client and they usually have to pay
    a ridiculous fee.

    I kind of like paper checks. They're fun to look at and make
    me feel all warm inside.

    Hope that helps,

    Justin Quick
  • Profile picture of the author BrandonT
    Originally Posted by entry View Post

    Copywriters who take in $5k - $10k + a week, from your copywriting clients and the jobs you do for them,

    how do you take in these funds?

    What is the best way you have found?

    1) paypal
    2) bank transfer? wire transfer?
    3) 2co, or other processors?

    for those of you who do 2) wire transfers, then how do the clients pay you ?

    Do you give them your bank number details, to put the money in,

    and do they just go into their bank, and say they want to pay you?
    Are they senders banks ok with this ? or they will ask them, what is the reason for sending $5k + in single transactions?


    A few things to keep in mind.

    Firstly, the security of your own banking information is PARAMOUNT. I wouldn't provide anyone with my full banking information, because all it takes is one unscrupulous customer who knows your routing and account #'s and they can clean you out.

    In fact, it doesn't even need to be malfeasance on their part; perhaps their own setup is infected with malware or something and your info gets stolen that way. I hardly trust my own setup is secure; why would I think some strangers' system is even half as safe?

    Go with some sort of escrow or transfer system, for sure.

    Beyond that, banks are required to complete a CTR (cash transaction report) for anyone who deposits or withdraws more than $10k in a single day. They also have other requirements, like being mandated to report suspicion of 'structuring', which is where transactions are scheduled, apportioned, or manipulated so as to not trigger CTRs. So, transactions of this size are perfectly fine and legal, but they WILL get big brother looking at you. Make sure you aren't cheating on your taxes if this is the case!
  • Profile picture of the author shawnlebrun
    I used to accept checks... but i soon found that the process of them writing a check often put some procrastination into place... meaning it would take a while to get and i'd never start working until the check cleared.

    then i started having them fed ex it/priority mail... I do like using checks as a payment method because it does kinda weed out the Maybes from the Hell Yeahs.

    In other words, if a client really wants to work with you, they'll send a check by carrier pigeon if they have to. for some reason, the checks i get are from really motivated clients.

    I still offer paypal as a payment alternative because almost everyone and their dog uses paypal.

    But recently, I've been accepting mostly credit cards with Square, which I LOVE

    If you go to Square.com, you can sign up for a free account and they will actually send you a free card reader. but you don't even need that if you have an iphone, ipad, or itouch... you can download the square app and actually take credit cards that way, without needing a merchant account or needing to have the client put in the info.

    it's awesome... paypal has a similar feature where you can take payments over the phone... but square has smaller fees.

    and the real cool thing about using square is, they deposit funds into your bank account the next day. with paypal, they hold funds for days, if not weeks.

    i once had a client pay me $10,000 for a project, and i used paypal's $19.95 a month program where you can take credit cards over the phone.

    well, they proceeded to hold that $10,000 for weeks because of the amount. so now i use paypal as little as possible and use square a lot more.
  • Profile picture of the author Daniel Sanchez
    Online: Paypal, wire transfers, or e-transfers.

    Offline Local: cash or check....but 99 times out of 100, it's going to be a check. You can request a direct deposit option if the commissions are recurring.

    Fact is: you decide and negotiate the method of payment. And don't do squat until they pay.

    And heads up - people who make demands on you are likely to continue making demands indefinitely. Get clients to follow your rules or you'll pay for it later on.

    PS - thanks Shawn for the heads up on paypal. I usually take payments half up front and half later...but I'm thinking I'll sign up with square now because I'm raising my prices shortly.
    • Profile picture of the author entry
      Originally Posted by Daniel Sanchez View Post

      Online: Paypal, wire transfers, or e-transfers.

      Offline Local: cash or check....but 99 times out of 100, it's going to be a check. You can request a direct deposit option if the commissions are recurring.

      Fact is: you decide and negotiate the method of payment. And don't do squat until they pay.

      And heads up - people who make demands on you are likely to continue making demands indefinitely. Get clients to follow your rules or you'll pay for it later on.

      PS - thanks Shawn for the heads up on paypal. I usually take payments half up front and half later...but I'm thinking I'll sign up with square now because I'm raising my prices shortly.
      Cheers, and if the customer is from USA, but is paying us abroad {uk, or Australia for example? }, can checks also be used? {although the additional fee might be required.}

      and can you also explain the wire transfer method? does the buyer who is paying have to go to the bank, and request this?

      How about 1shoppingcart, and 2co etc, would that be an option? or will they give questions to answer,
      or they understand high payments for such services? ?
  • Profile picture of the author The Copy Nazi
    Brown paper bag usually.
    • Profile picture of the author Joseph Robinson
      Originally Posted by The Copy Nazi View Post

      Brown paper bag usually.
      I'd go for the classic cloth bag with a $ on it personally. Although to tell the truth I'm not bringing that much revenue in monthly period at this point, let alone just from Sales Copy.

      Square looks like a good idea though, I've been looking for PayPal alternatives ahead of an upcoming raise in prices.
  • Profile picture of the author Derek Pankaew
    Just want you guys to know - Chase offers a service that lets anyone with a US bank send you money for free. They don't have to have a Chase account.

    It's like a wire transfer, but it's free.

    Learn about it here:

    https://www.chase.com/online/services/quickpay.htm

    Worth opening a Chase account if this is an issue.
  • Profile picture of the author shawnlebrun
    i wouldn't use 2co, i don't know if you can, first of all, or if it's mostly for downloadable goods. but just their fees alone would prob be not worth using.

    i used square again this weekend, it's amazingly easy. you just get the credit card info, enter it into your iphone, ipad, or itouch... and presto... money is in your bank account
    a day later. love it.
  • Profile picture of the author pamon
    never realized that copywriters could be making this much $$ per week? Would love to see an example of a high end job that someone did. Can PM me. Done a ton of writing and have a lot of inside/outside sales experience, maybe can transition to that? Nice thread...
  • Profile picture of the author shawnlebrun
    pamon, copywriters are some of the highest paid folks in the world... many multi-millionaires have come from copywriting. bly, carlton, bencivenga, makepeace, and probably anyone writing for the rodales, philips, agora, boardroom clan.

    i've made as much as $25,000 a week, and i've had weeks where i made zero.

    but once you "get good" and the top marketers find you, you'll never be out of work again.
    • Profile picture of the author entry
      Originally Posted by shawnlebrun View Post

      pamon, copywriters are some of the highest paid folks in the world... many multi-millionaires have come from copywriting. bly, carlton, bencivenga, makepeace, and probably anyone writing for the rodales, philips, agora, boardroom clan.

      i've made as much as $25,000 a week, and i've had weeks where i made zero.

      but once you "get good" and the top marketers find you, you'll never be out of work again.

      Which methods did you get paid in ?
  • Profile picture of the author Don Grace
    hahaha, "Brown paper bag- copy nazi"

    I've never had a problem with paypal, and you can avoid all the fees by having them choose the settings "personal" and then "other"

    take care

    don
    • Profile picture of the author marciayudkin
      and if you want to get around the Special rule, for $10,000 or more

      {Lets say the payment is for $14,000}, can you just do 2 seperate payments of $7000, (2 x $7,000 = $14,000)

      so you do get $14,000..but avoid the special rules ?
      If you are a law-abiding citizen and report your income to the authorities, there is no reason to avoid the special rules regarding amounts over $10,000.

      How many days do international wire transfers take?
      In my experience, they take 2-3 business days.

      Marcia Yudkin
  • Profile picture of the author TheVoicesInMyHead
    As a voice actor, I love using PayPal. Lately, a lot of my clients have money in PayPal already and as a result I don't take the credit card processing fee hit.

    If anyone out there has a genuine horror story, please share. I hear 2nd and 3rd hand tales of PayPal being naughty, but never first-hand.

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