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Best way to get direct deposit with international Amazon Associates?

by zxcvbnm
7 replies
Amazon.co.uk Associates payments does not allow to direct deposit into US bank account. Moreover, the are further issues - regarding currency conversion.
  1. Want direct deposit with Amazon Associates. Means getting international bank account. (NOTE: Seychelles, Isle of Man, and other easier-to-get offshore accounts, Amazon will not allow to direct deposit into. See the list at the end to see the allowed countries.)
  2. UK bank seems like the easiest because they speak english, eliminating the language barrier.
  3. HSBC is an option but the reviews of their bank are horrendous. Also there are many fees - $50 a month for Premiere account, along with currency conversion fees. Note that 50/mo is $600 per year, not including wire transfer fees. Alternatively if you get the Choice checking account, you also have to pay wire transfer fees and many other fees, adding up to potentially much more than the $50 per month. It is $15 for every transfer in, and $15 or more for every transfer out. Also there are ATM fees and more. Worse, if you have under 3 million yearly revenue, then you are not allowed to get a Business bank account. I much prefer to get a business account because then I don't have to disclose so much personal information to the bank by opening a personal account.
  4. A bank in the UK (not HSBC) suggested I should open a branch of my small business in the UK. I could hire a registered agent to help open a bank account in the UK without having a UK address or USA-based bank account (with a bank that does not have USA branches). This could also be expensive, but I could get a business registered for under $100 USD and for under $200 USD/year I could get a registered agent in the UK. Note that $300 the first year and $200/year thereafter is much less than the $600+ for having an international account with HSBC. Plus, then I would also have a UK business and business address - so more to show for my $200/year.
  5. I need to know the best way to get checks or currency converted into USD. Bank of America takes out a significant percentage (around 6%) just for converting the checks to USD. I want to know how to do this for free or near free so I don't lose so much of my income to merely currency conversion.
  6. If there is another way to get my money from the UK without having to give away part of my earnings to the banks, please do tell me. For my US earning I just get direct deposited and immediately get all my money. The UK money is a different story. I need to know the best, fastest, and cheapest way to get my money.

Countries which Amazon will direct deposit into (for non-USA amazon accounts):
Belgium
Bulgaria
Cyprus
Czech Republic
Denmark
Estonia
Finland
France
French Guiana
French Polynesia
Germany
Greece
Guadeloupe
Hungary
India
Ireland, Republic of
Italy
Latvia
Lithuania
Luxembourg
Malta
Martinique
Mayotte
Netherlands
New Caledonia
Poland
Portugal
Reunion
Romania
Saint Pierre and Miquelon
Slovakia
Slovenia
Spain
Sweden
Switzerland
United Kingdom
Wallis and Futuna
#amazon #associates #deposit #direct #international
  • Profile picture of the author Mrs S
    I live in the UK and am an associate with Amazon.com - I couldn't have direct deposits as I didn't have a US bank account in the US, so I have a USD account with Citibank in the UK. I get charged £5 to deposit a check and the funds remain in USD until I either spend them or transfer them into a sterling account.

    Citibank also have sterling accounts in the UK so you might be able to open an account with them? I'm not sure if they charge for you to hold an account but I'm pretty sure they wouldn't charge you to receive an electronic payment in the same currency as the account.
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    • Profile picture of the author zxcvbnm
      Originally Posted by Mrs S View Post

      I live in the UK and am an associate with Amazon.com - I couldn't have direct deposits as I didn't have a US bank account in the US, so I have a USD account with Citibank in the UK. I get charged £5 to deposit a check and the funds remain in USD until I either spend them or transfer them into a sterling account.

      Citibank also have sterling accounts in the UK so you might be able to open an account with them? I'm not sure if they charge for you to hold an account but I'm pretty sure they wouldn't charge you to receive an electronic payment in the same currency as the account.
      I am the opposite. I live in the US.
      Also credit card debt prevents me from doing anything with citibank.
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    • Profile picture of the author cooler1
      Originally Posted by Mrs S View Post

      I live in the UK and am an associate with Amazon.com - I couldn't have direct deposits as I didn't have a US bank account in the US, so I have a USD account with Citibank in the UK. I get charged £5 to deposit a check and the funds remain in USD until I either spend them or transfer them into a sterling account.

      Citibank also have sterling accounts in the UK so you might be able to open an account with them? I'm not sure if they charge for you to hold an account but I'm pretty sure they wouldn't charge you to receive an electronic payment in the same currency as the account.
      How do you deposit a check with Citibank? Do you take it to a branch or post it? Also, do they charge a fee to transfer money to another bank account?
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      • Profile picture of the author zxcvbnm
        Originally Posted by cooler1 View Post

        How do you deposit a check with Citibank? Do you take it to a branch or post it? Also, do they charge a fee to transfer money to another bank account?
        No the whole point here is to AVOID CHECKS. So that we can do DIRECT DEPOSIT for international Amazon!
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  • Profile picture of the author Mrs S
    That's a shame - I've been pleased with their service.

    I think I've seen people posting on the forum about having the commissions paid through to a card that they can then use. Hopefully someone with some experience in that will chime in!
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  • Profile picture of the author Kurt@viewswin
    You should make more than 3 million per year so yo can save the $600 per year at HSBC.
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    • Profile picture of the author cooler1
      Originally Posted by zxcvbnm View Post

      No the whole point here is to AVOID CHECKS. So that we can do DIRECT DEPOSIT for international Amazon!
      OK. Mrs S said "I get charged £5 to deposit a check and the funds remain in USD until I either spend them or transfer them into a sterling account." So I thought that meant it involved depositing a check.

      If you do a direct deposit, do Citibank charge a percentage fee similar to how Payoneer do or is it a set fee?
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