Author Topic: Amazon paid today  (Read 4171 times)

Marti Talbott

Amazon paid today
« on: September 29, 2019, 10:51:04 AM »
Nice surprise for me at least.
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TimothyEllis

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Re: Amazon paid today
« Reply #1 on: September 29, 2019, 12:03:29 PM »
Why the surprise?

Seemed normal enough to me.
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LilyBLily

Re: Amazon paid today
« Reply #2 on: September 29, 2019, 12:09:52 PM »
Didn't pay here on the U.S. east coast. I'm not expecting it to pay tomorrow, either, since Sunday is not a business day.
 

TimothyEllis

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Re: Amazon paid today
« Reply #3 on: September 29, 2019, 12:15:41 PM »
Didn't pay here on the U.S. east coast. I'm not expecting it to pay tomorrow, either, since Sunday is not a business day.

Odd.

Mine all came in in the 28th, which would have been 27th in the US. So Friday payment.

Makes me wonder if the problem is not Amazon paying, but your bank receiving or notifying you about it. Or may you dont get told until the money clears, while I get told when it it arrives? Might also be your payment goes through several banks before getting to yours? (Happens in Aus, as US payments go to the National bank, which then on sends to the rest. It was the fee which spurred me to payoneer.) Just guessing.
Genres: Space Opera/Fantasy/Cyberpunk, with elements of LitRPG and GameLit, with a touch of the Supernatural. Also Spiritual and Games.



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LilyBLily

Re: Amazon paid today
« Reply #4 on: September 29, 2019, 12:49:29 PM »
 grint
Didn't pay here on the U.S. east coast. I'm not expecting it to pay tomorrow, either, since Sunday is not a business day.

Odd.

Mine all came in in the 28th, which would have been 27th in the US. So Friday payment.

Makes me wonder if the problem is not Amazon paying, but your bank receiving or notifying you about it. Or may you dont get told until the money clears, while I get told when it it arrives? Might also be your payment goes through several banks before getting to yours? (Happens in Aus, as US payments go to the National bank, which then on sends to the rest. It was the fee which spurred me to payoneer.) Just guessing.

It's not a big deal to me either way, but I've never gotten an Amazon payment that I can recall on a weekend.

I use an internet-only bank, and it is possible that it actually has to use some kind of proxy to receive payments. I can't deposit or withdraw from it directly, either. I have to move money to or from a bank that has a physical presence.

I happened to check it a couple of hours ago--early on a Saturday evening--and none of the Amazon payments listed on the KDP dashboard were pending.

Anyway, Amazon claims it pays on the 29th, and it's not the 29th yet here.  Grin
 

Lynn

Re: Amazon paid today
« Reply #5 on: September 29, 2019, 12:58:43 PM »
I just switched from Ally bank to my local little bank and started actually getting the deposits on the day Amazon claims I'll get them. Ally was the problem for me. I would get deposits 2 or 3 days after the fact.

I didn't realize it wasn't Amazon until I switched. SO glad I did. :D Interest rate on the account is better too, and I really should have been paying attention but I'd had the Ally account for years and years. Got too comfortable. :) Oh, also, the little bank shows me pending deposits, while Ally never did.
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LilyBLily

Re: Amazon paid today
« Reply #6 on: September 29, 2019, 01:19:32 PM »
I just switched from Ally bank to my local little bank and started actually getting the deposits on the day Amazon claims I'll get them. Ally was the problem for me. I would get deposits 2 or 3 days after the fact.

I didn't realize it wasn't Amazon until I switched. SO glad I did. :D Interest rate on the account is better too, and I really should have been paying attention but I'd had the Ally account for years and years. Got too comfortable. :) Oh, also, the little bank shows me pending deposits, while Ally never did.

That's probably why I get the payments when I do. I wonder if my other internet-only bank would do the same?
 

Marti Talbott

Re: Amazon paid today
« Reply #7 on: September 29, 2019, 01:21:40 PM »
I just switched from Ally bank to my local little bank and started actually getting the deposits on the day Amazon claims I'll get them. Ally was the problem for me. I would get deposits 2 or 3 days after the fact.

I didn't realize it wasn't Amazon until I switched. SO glad I did. :D Interest rate on the account is better too, and I really should have been paying attention but I'd had the Ally account for years and years. Got too comfortable. :) Oh, also, the little bank shows me pending deposits, while Ally never did.

That's probably why I get the payments when I do. I wonder if my other internet-only bank would do the same?

Are you worried about giving Amazon your direct banking information? Just curious.
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DrewMcGunn

Re: Amazon paid today
« Reply #8 on: September 29, 2019, 01:51:45 PM »
If you're in the US, the deciding factor is likely your bank. When Amazon sends the payment through the Automated Clearinghouse network to your bank, they put an effective date on the transaction. Some banks are cool about it and put the money in your account the day they receive it. For instance, Amazon sent the transaction so that it would arrive on Friday. The effective date on the file is for Sunday the 29th. Of course, the banks are all closed and won't run transactions until Monday.  Some banks, like mine, squeeze every day out of their deposits that they can, because they earn interest on the float.


Drew McGunn
 
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Cobbah

Re: Amazon paid today
« Reply #9 on: September 29, 2019, 03:35:41 PM »
If you're in the US, the deciding factor is likely your bank. When Amazon sends the payment through the Automated Clearinghouse network to your bank, they put an effective date on the transaction. Some banks are cool about it and put the money in your account the day they receive it. For instance, Amazon sent the transaction so that it would arrive on Friday. The effective date on the file is for Sunday the 29th. Of course, the banks are all closed and won't run transactions until Monday.  Some banks, like mine, squeeze every day out of their deposits that they can, because they earn interest on the float.

Definitely this. The new digital banks are working hard to to speed up the process between payer-payee and taking their cut immediately.

I just transferred money from my DB to a client in Spain from US$ to Euros and the transaction was immediate. However, the amount won't show on the client's landbank until tomorrow (Monday) at 8am.

Are you worried about giving Amazon your direct banking information? Just curious.


I don't know if your question was directed at someone, but Amazon don't see your details in human readable form. It's why it always takes so long to resolve payment issues when people mix up their ACH with their WIRE codes. (the most common error). Unless they're hacked it's secure. Even if it's hacked I don't believe it can be used which is why many companies put their bank payment details on their invoices. I haven't heard of any of them having a problem with fraud.
 

LilyBLily

Re: Amazon paid today
« Reply #10 on: September 30, 2019, 01:02:23 AM »
Are you worried about giving Amazon your direct banking information? Just curious.

No, not at all. I'm sure Amazon isn't trying to peek into my personal finances. It leaves the creepy stuff to all the spy machines that people allow in their lives. (Maybe people are flattered that a device is listening to and recording their every utterance, but it sure seems like Big Brother to me.)

I created an online-only account just to handle self-publishing payments, and it works out nicely as a de facto portion of a balance sheet since money comes in from half a dozen sources. My freelance payments go through my physical banks, as does my other income. Everything gets put on a spreadsheet, and after that the relevant parts go to tax forms. Simple and organized.

As for bank interest, it's been laughable for years. When I was a child, 4% interest was common. As a young adult, 7% and a free gift was the rule. We all got a lot of free stuff during those inflationary times. We're still using the stainless steel flatware someone gave us that in my opinion was a bank gift that was re-gifted.     

 
 
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Rosie Scott

Re: Amazon paid today
« Reply #11 on: September 30, 2019, 02:40:12 AM »
I just switched from Ally bank to my local little bank and started actually getting the deposits on the day Amazon claims I'll get them. Ally was the problem for me. I would get deposits 2 or 3 days after the fact.

I didn't realize it wasn't Amazon until I switched. SO glad I did. :D Interest rate on the account is better too, and I really should have been paying attention but I'd had the Ally account for years and years. Got too comfortable. :) Oh, also, the little bank shows me pending deposits, while Ally never did.

You have a local bank with an interest rate better than Ally's? Sweet Lord, I didn't think one existed. Ally pays ten times the interest of my local bank. I've never noticed the deposit delay with Ally, but then again, my local bank has really bad delays. Deposits (even cash) made at my local branch take just as long as transferring it to Ally (2 days), where I hoard it to take advantage of those interest rates.  :hehe

This thread got me excited. I checked and lo and behold, I didn't get paid yet. But I'm closer to the eastern coast like LilyBLily, and I do use Ally. Maybe it has a delay and I just never noticed.

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Rosie Scott

Re: Amazon paid today
« Reply #12 on: September 30, 2019, 02:46:01 AM »
When I was a child, 4% interest was common. As a young adult, 7% and a free gift was the rule.

I WISH! :eek: With interest rates like that, I wouldn't want to spend any money! I'd hoard it all and watch it grow. My money market accounts and CDs pay half as much as the lower value you listed, and that's the best rate I could find.

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Simon Haynes

Re: Amazon paid today
« Reply #13 on: September 30, 2019, 02:46:02 AM »

As for bank interest, it's been laughable for years. When I was a child, 4% interest was common. As a young adult, 7% and a free gift was the rule. We all got a lot of free stuff during those inflationary times. We're still using the stainless steel flatware someone gave us that in my opinion was a bank gift that was re-gifted.     


Here in Australia we had interest rates on savings of around 15% in the early 90's. I remember because I was looking at buying a house and the mortgage rate was 18.5% at the time. (I waited a couple of years and got a far 'better' 10.5%)

Now it's something like 3% on a mortgage and absolutely nothing on savings. How things change.

 

Lynn

Re: Amazon paid today
« Reply #14 on: September 30, 2019, 03:06:53 AM »
I just switched from Ally bank to my local little bank and started actually getting the deposits on the day Amazon claims I'll get them. Ally was the problem for me. I would get deposits 2 or 3 days after the fact.

I didn't realize it wasn't Amazon until I switched. SO glad I did. :D Interest rate on the account is better too, and I really should have been paying attention but I'd had the Ally account for years and years. Got too comfortable. :) Oh, also, the little bank shows me pending deposits, while Ally never did.

You have a local bank with an interest rate better than Ally's? Sweet Lord, I didn't think one existed. Ally pays ten times the interest of my local bank. I've never noticed the deposit delay with Ally, but then again, my local bank has really bad delays. Deposits (even cash) made at my local branch take just as long as transferring it to Ally (2 days), where I hoard it to take advantage of those interest rates.  :hehe

This thread got me excited. I checked and lo and behold, I didn't get paid yet. But I'm closer to the eastern coast like LilyBLily, and I do use Ally. Maybe it has a delay and I just never noticed.

I double and triple checked the rate because I was like What? when I realized it.
Don't rush me.
 

LilyBLily

Re: Amazon paid today
« Reply #15 on: September 30, 2019, 03:38:59 AM »

As for bank interest, it's been laughable for years. When I was a child, 4% interest was common. As a young adult, 7% and a free gift was the rule. We all got a lot of free stuff during those inflationary times. We're still using the stainless steel flatware someone gave us that in my opinion was a bank gift that was re-gifted.     


Here in Australia we had interest rates on savings of around 15% in the early 90's. I remember because I was looking at buying a house and the mortgage rate was 18.5% at the time. (I waited a couple of years and got a far 'better' 10.5%)

Now it's something like 3% on a mortgage and absolutely nothing on savings. How things change.

You're right. There was even worse inflation to come. I think mortgage rates were 13% here at one time. We got a better rate with our first house and then refinanced to an even better rate, and then we did it again and yet again. The current mortgage stretches beyond my likely lifespan.

As for keeping money in the bank as a primary place to save, I'm done. Not only are interest rates low, but the government taxes the interest now as it basically didn't in the past. If I want my savings to grow, I invest in low-fee mutual funds through a discount brokerage in a Roth IRA, which is a tax-advantaged account when one withdraws: no tax on the capital gain--the "interest," as it were.
 
Although Amazon has paid me quite a bit of money over the past four years, the arrival of the payment isn't a concern to me. I'm not paying bills with or living off my indie income. But this has been an enlightening discussion.
 

Lynn

Re: Amazon paid today
« Reply #16 on: September 30, 2019, 04:14:45 AM »
You're right. There was even worse inflation to come. I think mortgage rates were 13% here at one time. We got a better rate with our first house and then refinanced to an even better rate, and then we did it again and yet again. The current mortgage stretches beyond my likely lifespan.

As for keeping money in the bank as a primary place to save, I'm done. Not only are interest rates low, but the government taxes the interest now as it basically didn't in the past. If I want my savings to grow, I invest in low-fee mutual funds through a discount brokerage in a Roth IRA, which is a tax-advantaged account when one withdraws: no tax on the capital gain--the "interest," as it were.
 
Although Amazon has paid me quite a bit of money over the past four years, the arrival of the payment isn't a concern to me. I'm not paying bills with or living off my indie income. But this has been an enlightening discussion.

One of the main reasons it annoys me is because it caused me issues at year end with 1099 balances and my own records. Amazon would claim to pay me on the 29-31 but my bank deposit wouldn't arrive until January 1 or 2 some years. I've never liked having to make allowances for that at tax time. But I refused to pay taxes on money I didn't receive (yet) because I'm a cash basis taxpayer, so... inevitably I had to deal with it. I shouldn't have to deal with it any longer, assuming my small bank continues to credit deposits more quickly than the other one did. :)
Don't rush me.
 

LilyBLily

Re: Amazon paid today
« Reply #17 on: September 30, 2019, 05:55:49 AM »

One of the main reasons it annoys me is because it caused me issues at year end with 1099 balances and my own records. Amazon would claim to pay me on the 29-31 but my bank deposit wouldn't arrive until January 1 or 2 some years. I've never liked having to make allowances for that at tax time. But I refused to pay taxes on money I didn't receive (yet) because I'm a cash basis taxpayer, so... inevitably I had to deal with it. I shouldn't have to deal with it any longer, assuming my small bank continues to credit deposits more quickly than the other one did. :)

I went around and around with Amazon on that last year, and sometimes I've had similar problems with other clients. This year I'll assume the Amazon payment is December 29th.
 

Lynn

Re: Amazon paid today
« Reply #18 on: September 30, 2019, 06:09:02 AM »
I just use the 1099 to roughly check that the income being reported is remotely correct. I use my own records for the actual filings and the 1099 can stuff it. :D In fact, about three years ago I quit waiting for the 1099s before I filed. They're purely informational forms anyway, and I keep excellent records. I don't need the information. :D
Don't rush me.
 

Post-Crisis D

Re: Amazon paid today
« Reply #19 on: September 30, 2019, 06:19:35 AM »
I wish Amazon would pay me instead of this Today fellow.  :icon_cry:
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LilyBLily

Re: Amazon paid today
« Reply #20 on: September 30, 2019, 01:18:33 PM »
 Grin
I just use the 1099 to roughly check that the income being reported is remotely correct. I use my own records for the actual filings and the 1099 can stuff it. :D In fact, about three years ago I quit waiting for the 1099s before I filed. They're purely informational forms anyway, and I keep excellent records. I don't need the information. :D

For many years, I've had clients based in foreign countries. They have footprints in this country, but some of them claim to be based elsewhere and don't issue 1099s. I'd probably be in trouble reporting so much uncorroborated income if I were also trying to get the Earned Income Credit, but because the income makes me liable for more taxes, the IRS has never uttered a peep.Grin
 

She-la-te-da

Re: Amazon paid today
« Reply #21 on: September 30, 2019, 08:46:03 PM »
My bank (actually an employee credit union) always delays payments from foreign stores. I don't know why, as Amazon pays in American dollars, but that's how they roll. Sometimes it takes a while before they accept it and put it in my account. I'm still waiting for them to tell Amazon they'll take my $1.82 from the UK.

Of course, I'm not depending on money from Amazon to pay my bills, so I just get money out when I can, usually when I'm going to be out. I don't even bother to check online with the credit union to see when something comes in.

I always thought Amazon paid early around holidays and end of year, so money would be in the account before the banks close/tax year ended.
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Marti Talbott

Re: Amazon paid today
« Reply #22 on: October 02, 2019, 07:51:42 AM »
Maybe we are all forgetting that banks hold money in order to make interest on it. They actually put a hold on my deposit that I was so happy about getting early. The hold will come off at midnight tonight. Since I pay myself out of my own business account, I can see that the money was transferred yesterday. Why else would they hold it except to make interest?
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https://www.amazon.com/dp/B08QG5K23