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Author Topic: The AUSTRALIAN writer's support thread  (Read 249725 times)  

Offline NicoleSwan

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Re: The AUSTRALIAN writer's support thread
« Reply #75 on: July 29, 2013, 12:40:49 AM »
The obscenely long clearing time is just silly.  They can move millions of dollars in a microsecond, but it takes them 20 days to clear a cheque, absurd, it's all interest accumulation lies imo.

Offline A.A

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Re: The AUSTRALIAN writer's support thread
« Reply #76 on: July 29, 2013, 01:51:39 AM »
Hi Anya,

BB charge $10.00 (regardless of the amount of the cheque) per foreign cheque deposit. It sounds like St George offers a better deal. Is it $5.50 regardless of the amount of the cheque?

Payoneer charges when I enquired in October 2012 were as follows:
The cost of receiving a payment via the US Payment Service is 1% of the payment amount.  
If you choose to withdraw cash from an ATM, there is a charge of $3.15 per cash withdrawal.


JB, that's what I was told over the phone. I called Commonwealth first, and they assured me it was free for foreign cheque deposits (yes, assured...) When I went in, it was a different story.
I'm not sure re the amount of the cheque. I have around $4000 in cheques to deposit at the moment - will let you know how I go :)
If I used payoneer, they'd take $40 from that. So it's cheaper for me to deposit the cheques in my bank - and I don't need to pay $3.50 to withdraw money.

(Miranda, yes, that's what they told me - good to know they can give the right info over the phone!)
« Last Edit: July 29, 2013, 01:54:25 AM by Anya »

Offline Maya Cross

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Re: The AUSTRALIAN writer's support thread
« Reply #77 on: July 29, 2013, 01:55:44 AM »
Another Aussie here. I've been putting my Zon payments on hold while I worked out how I wanted to deal with them. I think I'm going to go cheque, although it's not an easy choice. For what it's worth, I'm with St George, and I went in the other day and asked about their foreign cheque policy, and was told the following:

You can do up to three cheques in a bundle, as long as they're the same currency.
It's $10.50 for a single foreign cheque, and then that goes up by about $0.50 per extra cheque you add to the bundle, so $11.50 for three cheques.
They can take up to 60 days to clear.

The 60 day lag is a pain in the ass, but I guess I'll take that over losing 1%.

Offline Selina Fenech

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Re: The AUSTRALIAN writer's support thread
« Reply #78 on: July 29, 2013, 02:03:06 AM »
Also with St George here. But while you're stashing your cheques so you can bank them together for the discount, also remember that if they get over 6 months old you can't bank them anymore (StG policy at least).
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Re: The AUSTRALIAN writer's support thread
« Reply #79 on: July 29, 2013, 04:11:55 AM »
For what it's worth, I'm with St George, and I went in the other day and asked about their foreign cheque policy, and was told the following:

You can do up to three cheques in a bundle, as long as they're the same currency.
It's $10.50 for a single foreign cheque, and then that goes up by about $0.50 per extra cheque you add to the bundle, so $11.50 for three cheques.
They can take up to 60 days to clear.

Maya, I should ask them about that next time.  I wasn't told about bundling three cheques even though I asked how I could reduce the fees further.  They did charge me $11 when I deposited 2 US cheques at the same time ($5.50 each).

I wonder if it's got something to do with the kind of account you have?  Or maybe the amount of your cheques?

Also my cheques have always cleared about a month (20 working days) after I deposited them, but then again, maybe it depends on the amount.

And yes, as Selina mentioned, I was also told they won't accept cheques that are over 6 months old.  I think Westpac also told me that as well.


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Offline kathrynoh

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Re: The AUSTRALIAN writer's support thread
« Reply #80 on: July 29, 2013, 04:30:17 AM »
Anya, it's frustrating when you get differing information from the banks  >:(

It's crazy warm here during the day for a Melbourne winter! Kinda annoying cos I leave the house so early for work, I have to rug up but then I'm sweltering in all my layers on the way home.

Offline CJArcher

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Re: The AUSTRALIAN writer's support thread
« Reply #81 on: July 29, 2013, 04:48:48 AM »
The problem with the foreign cheques is you really need to find someone who knows what they're doing. I rang around some of the banks recently and while they all told me their fee (ranging from $5 to $20), when I asked what they charge for bigger cheques I was met with silence, followed by "let me check with someone", followed by "<insert reasonably small amount here eg. $40>". BUT, what they fail to tell you over the phone (because they don't know themselves) is that those larger cheques (and I'm not talking massive here, just a few thousand dollars) are sent back overseas (or something like that) and Amazon's bank then charge you THEIR fee, plus a courier fee. When I put that to the employee on the phone, they usually say "Well, that's not OUR fee".

Ugh. Kobo do it right. 1 direct deposit in your local currency. And the fee? $0.

Kboards is always really quiet at this time of night.
 
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Offline JB Rowley

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Re: The AUSTRALIAN writer's support thread
« Reply #82 on: July 29, 2013, 04:50:57 AM »
The obscenely long clearing time is just silly.  They can move millions of dollars in a microsecond, but it takes them 20 days to clear a cheque, absurd, it's all interest accumulation lies imo.

Yes, it is a pain. I wait 28 days with Bendigo Bank, although once or twice the cheques went through with no waiting period at all. That was nice!

Here's a hint that might be of use but I have not checked it out myself. A teller at BB told me that Commonwealth Bank offers immediate clearance of foreign cheques on certain business accounts (or maybe it's on any business account, I cannot remember what he said).

JB (Yes, Kathryn, I was out walking in the lovely warm winter's day in Melbourne today.)

Offline ShaneJeffery

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Re: The AUSTRALIAN writer's support thread
« Reply #83 on: July 29, 2013, 04:56:18 AM »
With winter this warm, you know summer is going to get ugly again  ???

Offline Sam Winterwood

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Re: The AUSTRALIAN writer's support thread
« Reply #84 on: July 29, 2013, 05:04:58 AM »
With winter this warm, you know summer is going to get ugly again  ???
Colour me not excited. I am not a fan of the heat.

Offline NicoleSwan

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Re: The AUSTRALIAN writer's support thread
« Reply #85 on: July 29, 2013, 05:21:50 AM »
Kboards is always really quiet at this time of night.

It's what drove me insane, hence making the thread :)


Now as for the weather, yes, given that our "Winter" up here consisted of only ONE night where I almost had misty breath, I am greatly fearing the approaching Summer.

Offline JohnHindmarsh

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Re: The AUSTRALIAN writer's support thread
« Reply #86 on: July 29, 2013, 07:39:43 AM »
Yaaay, woke up this morning, no changes on my KDP panel... but as a big bonus, I've got the flu... woohooo.. *bleaaaarh*, sore joins, raw nasal, drinking water hurts, ringing in the ears like I'm stuck in the outback on a Summer evening with the cicadas, oh I hate this :(

I hope it's not contagious...

Get well.

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Offline Bec

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Re: The AUSTRALIAN writer's support thread
« Reply #87 on: July 29, 2013, 08:46:21 AM »
Has anyone actually got a list or something with all the different banks and their fees? I started trying to do it the other day, from their websites (after working in an insurance call centre, I quickly learned to trust only things in writing - some of the people on the phone will just say anything to get you to go away - very frustrating when you have to clean up their mess later) but the information was pretty hard to find for some banks.

Cheques are still really common here in Canada. They only just got Visa Debit cards within the last year or two. I confused a lot of shop keepers with my card three years ago.

Anyway.

I have to figure out what to do with my money by October...

1. Payoneer. ($29.95 annual fee, then percentage of each withdrawal etc.)
2. Cheques. (and find the best bank for that)
3. Keep Canadian bank account and transfer money to Australia when I need it. Dealing with two different exchange rates, plus fees. Bleh.

Ugh. Really wish Zon would get with the program and direct deposit to Aus...


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Re: The AUSTRALIAN writer's support thread
« Reply #88 on: July 29, 2013, 11:31:11 AM »
Hi, I'm from Adelaide. I use the Commonwealth Bank, who charge $10 per cheque in foreign funds, with 28 days for the cheque to clear. They say they have to post the cheque back to the US for verification, which is why it takes so long to clear. I've never deposited a large cheque so I don't know if it's different for a bigger amount.

Offline JB Rowley

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Re: The AUSTRALIAN writer's support thread
« Reply #89 on: July 29, 2013, 01:39:28 PM »
*Waves to neighbours across the ditch*

Great to see so many of us from the upside-down of the world!

Right back at ya', Shayne. Congratulations on the success of your books. I have observed some of your posted sales results and noticed the great reviews and high rankings of your books- impressive!

JB :)

Offline Sam Winterwood

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Re: The AUSTRALIAN writer's support thread
« Reply #90 on: July 29, 2013, 03:04:31 PM »
Good morning fellow Australians. Here's to many words today!

Offline A.A

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Re: The AUSTRALIAN writer's support thread
« Reply #91 on: July 29, 2013, 03:09:12 PM »
Anya, it's frustrating when you get differing information from the banks  >:(

It's crazy warm here during the day for a Melbourne winter! Kinda annoying cos I leave the house so early for work, I have to rug up but then I'm sweltering in all my layers on the way home.

Sure is frustrating. Seems that the banks themselves are confused...
If Google can manage to pay Australians any amount per month (through their AdChoices program) direct to their bank accounts, with no fees or US taxes and no need for any kind of US EINs or ITINs - why can't Amazon?
Amazon is making a ton from Australian authors, yet they put us through hoops and we have to pay US taxes. :(
Am actually wishing that Google would become a strong competitor.

Offline Scarlett_R

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Re: The AUSTRALIAN writer's support thread
« Reply #92 on: July 29, 2013, 03:20:13 PM »
Charges for Payoneer:

Monthly payment fee ($5 odd)
ATM withdrawal/exchange charge.

I preferred to pay those fees and access funds straight away. I don't use it as a bounce account to then transfer that into my Australian bank account, I treat it like a normal ATM card.

Offline CJArcher

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Re: The AUSTRALIAN writer's support thread
« Reply #93 on: July 29, 2013, 03:20:25 PM »
Amazon CAN do it. They direct deposit my Montlake payments into my ANZ account, just not my KDP payments. That's why it's so frustrating. Different accounting departments and all that.
 
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Offline Scarlett_R

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Re: The AUSTRALIAN writer's support thread
« Reply #94 on: July 29, 2013, 03:22:50 PM »
Amazon CAN do it. They direct deposit my Montlake payments into my ANZ account, just not my KDP payments. That's why it's so frustrating. Different accounting departments and all that.

Ditto- Amazon paid me directly into my ANZ account too for the work I did for them, and their turn around time for it was always on the better side.

Offline Patty Jansen

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Re: The AUSTRALIAN writer's support thread
« Reply #95 on: July 29, 2013, 04:05:47 PM »
Hi, I'm from Adelaide. I use the Commonwealth Bank, who charge $10 per cheque in foreign funds, with 28 days for the cheque to clear. They say they have to post the cheque back to the US for verification, which is why it takes so long to clear. I've never deposited a large cheque so I don't know if it's different for a bigger amount.

I've banked cheques of a few thousand $$$ (although not Amazon payments), and when I did this, a few years ago, the $10 was just the same. It's a flat fee.

Offline JB Rowley

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Re: The AUSTRALIAN writer's support thread
« Reply #96 on: July 29, 2013, 04:30:04 PM »
Just sticking my nose in to say hi. Though I did have an Australian grandmother, does that count? :)

Nothing better than an Australian grandmother! Welcome Ariadne.

JB :)

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Re: The AUSTRALIAN writer's support thread
« Reply #97 on: July 29, 2013, 04:56:31 PM »
Right back at ya', Shayne. Congratulations on the success of your books. I have observed some of your posted sales results and noticed the great reviews and high rankings of your books- impressive!

JB :)

Hey, thanks, JB! Yes, I've been very lucky, thanks to my lovely readers.

Joining the chorus of wishing for direct deposits from Amazon to our part of the world!
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Offline NicoleSwan

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Re: The AUSTRALIAN writer's support thread
« Reply #98 on: July 29, 2013, 05:07:09 PM »
Morning all, feeling like warmed over death here.  Hope you all have a good day.

Offline Selina Fenech

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Re: The AUSTRALIAN writer's support thread
« Reply #99 on: July 29, 2013, 06:12:43 PM »
I love how this thread has just become all complaining about banks and talking about the weather  ;D
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