Fast cars, fast internet and fast food… like everything else, we want it fast, and if your affiliate network isn’t delivering fast monthly (or weekly) payouts… they are way behind. While many affiliate networks are just starting to offer payment methods outside of the traditional checks by mail, many others have been sending faster payments through paypal, Direct Deposit and wire transfer for a while now. Like many affiliate networks, big programs like Google Adsense and Yahoo Publisher Network, both offer payments by Direct Deposit. There are several advantages to receiving your earnings by direct deposit or paypal vs. waiting on your monthly check. Here are a few reasons why…
Payment by Direct Deposit / Wire Transfers
– It sounds simple enough… and it is! Provide your affiliate network with your bank account information and instead of receiving a check each month, the company will directly deposit your payment every week or month depending on the programs.
PROS: No waiting for checks and having to deposit them at the bank.
CONS: Some banks charge a fee for direct deposits and wire transfers. However, if you have a contact or a big enough account at the bank, you can usually have these fees waived.
Payment by PayPal
– Even though paypal has been around for years and used by millions, it still isn’t accepted or used by all affiliate networks. Payment through paypal is instant, but as the receiver of money, you will have to lose a percentage to use their service.
PROS: Instant money. From paypal you can send the payment directly to your bank account, or send it to another advertiser or location of choice.
CONS: If you are going to accept large earnings through paypal, you are almost better off waiting for a check looking for an alternative method for payment. Premiere Business paypal accounts are charged around 1.9% to 2.9% + $0.30 USD per transaction.
Direct Deposit and wire transfers may seem like the bets options for affiliates, but it doesn’t come with out a cost. Most affiliate networks will only pay out on a weekly/monthly basis through direct deposit, if you are pushing some nice volume through their network. Here are a few of the networks minimums for wire transfers.
|Market Leverage||Wire Transfers
|NeverBlue Ads||Wire Transfers
|Hydra Network||Wire Transfers
$20,000 2x Monthly
|Rextopia||Upon Request / Approval|
What type of experience have you had with affiliate networks and making the change over from CHECKS to Direct Deposits and Wire Transfers?
[This post is covering part one of the “Five Reasons Your Affiliate Program Sucks” series, and is focusing on “Direct Deposit / Wire Transfer & Paypal“.]