From my author blog:
Ooh it's Friday the 13th! Remember to throw your black cat over your
shoulder while standing on a ladder or however all that works. Anyway,
I ran into some bad luck recently where I actually lost money for
It was maybe late last year or early
this year that Amazon changed its royalty payment policy from paying
only once $10 had been earned (which B&N still does) to just paying
whatever the hell you had earned no matter how low. Which in some ways
is great because it's not like B&N where if I only make $9.60 I have
to wait a whole extra month (providing I sell another book) to get
paid. That has happened a couple of times and it's annoying.
problem though is sometimes your royalty really is too low so you end
up getting royally screwed. In April I got a payment of $0.59 or
something like that from one of the European Amazons. Hey great 59
cents, don't spend that all in one place. Well the problem is the next
day or so I check my account activity and realize my bank charged a $1
fee for this foreign wire. So I actually LOST 41 cents!
it actually cost me money to sell a couple of ebooks overseas. I
didn't think too much of it at the time; I just shrugged and said,
"Whatever." But then it happened AGAIN the next month, leaving me out
another 41 cents or whatever it was.
At that point I
decided something needed to be done. First I had to track down where
these wires were coming from. Using the new charts on the sales
dashboard I realized they were coming from Spain. My first thought was
to just stop selling books there. But then I realized what a pain it is
to go into each book and try to select where you want to sell it. My
second thought was to just make the price in Spain so high no one would
ever buy any. But again that would be a real pain in the ass to do for
like 40 books.
So I decide to go ask Amazon's customer
service. For once they actually had something helpful to say.
Basically you can go in and change your payment method from EFT or wire
or whatever to check. Which also means you won't get paid until you hit
$10. Which in Spain means probably never. While I was at it I changed
that for the rest of Europe, except the UK. And India, Japan, Mexico,
and Brazil as well.
The thing is I don't sell a lot of
books in continental Europe. Or pretty much anywhere except the US and
UK. And in the UK it's mostly one book of short stories under a pen
name that for some reason sells over there but has sold maybe 1 copy in
the US. The last thing I want is to lose money when I do manage to sell
something over there.
So there you go, a Pro Tip:
unless you sell a lot of books in those other countries, don't use the
wire or EFT payments--unless you have a bank that doesn't charge a fee
for that. Ha, yeah right, a bank not charging fees? ROFTLOL