Why don't more sponsors offer direct deposit? - GoFuckYourself.com

kenny · 01-10-2007, 10:10 AM

I may be ignorant for the accounting reasons on why more sponsors don't offer this.

All I know is that there is a small percentage of programs that have this for a option and it seems like the best option.

No lost/stolen checks or wire fees.

I can't see how it's anymore difficult to setup then epass.

Somebody explain this to me.

Thanks

directfiesta · 01-10-2007, 10:17 AM

I wonder the same ...

Between Paycom and my bank, it cost me 46.00 a week to receive my payment ( not an affiliate, but site owner).

$ 2392.00 a year ... a nice week of all-inclusive holiday ....

On the other hand, Ibill used to ach into my account, but we know the ending of this story

kenny · 01-10-2007, 10:26 AM

Quote:

Originally Posted by directfiesta

I wonder the same ...

Between Paycom and my bank, it cost me 46.00 a week to receive my payment ( not an affiliate, but site owner).

$ 2392.00 a year ... a nice week of all-inclusive holiday ....

I hear you on that one.

As a affilate who works with a dozen different programs the wire fees would be obsured if I used wires for a option on all transactions.

While I can understand epass is a good alternative to some webmasters I'd much rather have direct deposit.

kenny · 01-10-2007, 10:56 AM

Come on..

Nobody here knows or has wondered about this?

Pinacolada · 01-10-2007, 11:45 AM

cause they are shits

HAPPYPEEKERS · 01-10-2007, 11:58 AM

Topbucks Offers Direct Deposit

Jace · 01-10-2007, 12:00 PM

I never understood it either, direct deposit seems like such a great alternative to checks and wire fees

kenny · 01-10-2007, 12:13 PM

If I had to I could setup direct deposit through my bank easy

https://www.wellsfargo.com/biz/produ...bob/directpay/

Only thing is it's only for US bank accounts

It cost .50 cents a transaction for personal accounts and $10 a month overall..

I would imagine most banks are similar in charges

kenny · 01-10-2007, 12:54 PM

Bank of america

- I know of a few sponsors that use this bank and don't offer direct deposit. Some of them are big sponsors.

http://www.bankofamerica.com/smallbu...=tm_direct.cfm

Nicky · 01-10-2007, 01:01 PM

Im paying 20-35 bucks per wire transfer the sponsors send me, turns out to a pretty nice coin if you look at it over a years time

D · 01-10-2007, 01:26 PM

Well, we kinda operate under the assumption that a most people don't want to share their bank account information with anyone that they don't absolutely have to share it with.

That, and it would also require sponsers to adopt a level of responsibility that they may not be ready to or willing to adopt. Not that any financial information isn't, but bank account information is even moreso kinda sensitive stuff... I mean, I'm sure you have a lot more personal and important-type transactions going through that account than you might have on an epass account, or whatever. I'm no accountant, but I imagine it'd also mean more insurance cost on the part of the sponser in the event that something _could_ go wrong.

I reckon there's also the fact, as a few threads have discussed in this community before, that some institutions have problems doing business with entities in our line of business... I remember people talking about accounts being shut down, checks refused, and all that jazz...

Just seems like direct deposit would introduce a lot more variables than the simplicity of epass or mailing checks provides.

But then, like I said, I'm no accountant... just shooting from the hip here.

kenny · 01-10-2007, 01:29 PM

Quote:

Originally Posted by Nicky

Im paying 20-35 bucks per wire transfer the sponsors send me, turns out to a pretty nice coin if you look at it over a years time

It appears you're in sweden. I have yet to find a US bank that does direct deposits on a international level.

However, most US banks offer direct deposits to US accounts at costs that appear to be cheaper then cutting checks.

Few sponsors take advantage of this.

Although one big sponsor did give me a good explanation on the reasons why they can't.

pocketkangaroo · 01-10-2007, 01:37 PM

I'd love for more sponsors to offer direct deposit. I am also kind of surprised that it isn't more standard by now.

For security concerns, how much different is it than a wire?

kenny · 01-10-2007, 01:43 PM

Quote:

Originally Posted by D_hodough

Well, we kinda operate under the assumption that a most people don't want to share their bank account information with anyone that they don't absolutely have to share it with.

You're disturbuting the same information everytime you write a personal check.

Quote:

Originally Posted by D_hodough

That, and it would also require sponsers to adopt a level of responsibility that they may not be ready to or willing to adopt. Not that any financial information isn't, but bank account information is even moreso kinda sensitive stuff... I mean, I'm sure you have a lot more personal and important-type transactions going through that account than you might have on an epass account, or whatever. I'm no accountant, but I imagine it'd also mean more insurance cost on the part of the sponser in the event that something _could_ go wrong.

I would imagine that the banks involved take on the liability. It shouldn't reflect on insurance costs. I can't figure how that would ever apply.

I mean isn't the same info used in wires?

Even if some sponsor commits fraud using the accounts its not like we would never get the money back. Banks protect agaisnt things like that these days.

Quote:

Originally Posted by D_hodough

I reckon there's also the fact, as a few threads have discussed in this community before, that some institutions have problems doing business with entities in our line of business... I remember people talking about accounts being shut down, checks refused, and all that jazz...

Just seems like direct deposit would introduce a lot more variables than the simplicity of epass or mailing checks provides.

But then, like I said, I'm no accountant... just shooting from the hip here.

I think direct deposits are just as simple as epass and easier on the sponsors and affilates then checks.

I mean their are already a few spnsors that I know who offer direct deposit.

Topbucks, Gonzo, ARS, etc.

They don't seem to have a problem with it and in fact it has been working flawless over the years that I have used the direct deposit option.

I appreciate your perspective though.

kenny · 01-10-2007, 01:44 PM

Quote:

Originally Posted by pocketkangaroo

I'd love for more sponsors to offer direct deposit. I am also kind of surprised that it isn't more standard by now.

For security concerns, how much different is it than a wire?

Exactly,

or writing a personal check for that matter.

woj · 01-10-2007, 01:58 PM

It's probably a scam to charge webmasters for wire fees, programs work out a deal with a bank to send out wires at $5 each in bulk, then charge $30-$40 each webmaster for a wire....

(well, probably not, but I don't really see any other logical reason why more programs wouldn't offer direct deposits)

jayeff · 01-10-2007, 02:00 PM

Because the majority just play follow-my-leader in payment methods as in most other things?

kenny · 01-10-2007, 02:07 PM

Quote:

Originally Posted by jayeff

Because the majority just play follow-my-leader in payment methods as in most other things?

That what I'm starting to think..

Because it's not yet a industry standard to offer it.

01-10-2007, 10:10 AM	#1
kenny Confirmed User Industry Role: Join Date: Mar 2002 Posts: 7,245	Why don't more sponsors offer direct deposit? I may be ignorant for the accounting reasons on why more sponsors don't offer this. All I know is that there is a small percentage of programs that have this for a option and it seems like the best option. No lost/stolen checks or wire fees. I can't see how it's anymore difficult to setup then epass. Somebody explain this to me. Thanks __________________ 7

01-10-2007, 10:17 AM	#2
directfiesta Too lazy to set a custom title Industry Role: Join Date: Oct 2002 Location: Montreal, Quebec Posts: 29,751	I wonder the same ... Between Paycom and my bank, it cost me 46.00 a week to receive my payment ( not an affiliate, but site owner). $ 2392.00 a year ... a nice week of all-inclusive holiday .... On the other hand, Ibill used to ach into my account, but we know the ending of this story __________________ I know that Asspimple is stoopid ... As he says, it is a FACT ! But I can't figure out how he can breathe or type , at the same time .... Last edited by directfiesta; 01-10-2007 at 10:18 AM..

01-10-2007, 10:56 AM	#4
kenny Confirmed User Industry Role: Join Date: Mar 2002 Posts: 7,245	Come on.. Nobody here knows or has wondered about this? __________________ 7

01-10-2007, 11:58 AM	#6
HAPPYPEEKERS Confirmed User Industry Role: Join Date: Feb 2004 Location: Margaritaville Posts: 7,562	Topbucks Offers Direct Deposit __________________ Please Read All Of My Posts In A Sarcastic Tone So You Get The Full Effect!! HappyPeekers - April

01-10-2007, 12:13 PM	#8
kenny Confirmed User Industry Role: Join Date: Mar 2002 Posts: 7,245	If I had to I could setup direct deposit through my bank easy https://www.wellsfargo.com/biz/produ...bob/directpay/ Only thing is it's only for US bank accounts It cost .50 cents a transaction for personal accounts and $10 a month overall.. I would imagine most banks are similar in charges __________________ 7 Last edited by kenny; 01-10-2007 at 12:16 PM..

01-10-2007, 11:45 AM	#5
Pinacolada Confirmed User Join Date: Jan 2007 Posts: 1,300	cause they are shits

01-10-2007, 12:00 PM	#7
Jace FBOP Class Of 2013 Industry Role: Join Date: Jan 2004 Location: bumfuck, ky Posts: 35,562	I never understood it either, direct deposit seems like such a great alternative to checks and wire fees

01-10-2007, 12:54 PM	#9
kenny Confirmed User Industry Role: Join Date: Mar 2002 Posts: 7,245	Bank of america - I know of a few sponsors that use this bank and don't offer direct deposit. Some of them are big sponsors. http://www.bankofamerica.com/smallbu...=tm_direct.cfm __________________ 7

01-10-2007, 01:01 PM	#10
Nicky Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Sweden Posts: 30,070	Im paying 20-35 bucks per wire transfer the sponsors send me, turns out to a pretty nice coin if you look at it over a years time __________________ gfynicky @ gmail.com

01-10-2007, 01:26 PM	#11
D Confirmed User Join Date: Jan 2006 Location: The Valley Posts: 7,412	Well, we kinda operate under the assumption that a most people don't want to share their bank account information with anyone that they don't absolutely have to share it with. That, and it would also require sponsers to adopt a level of responsibility that they may not be ready to or willing to adopt. Not that any financial information isn't, but bank account information is even moreso kinda sensitive stuff... I mean, I'm sure you have a lot more personal and important-type transactions going through that account than you might have on an epass account, or whatever. I'm no accountant, but I imagine it'd also mean more insurance cost on the part of the sponser in the event that something _could_ go wrong. I reckon there's also the fact, as a few threads have discussed in this community before, that some institutions have problems doing business with entities in our line of business... I remember people talking about accounts being shut down, checks refused, and all that jazz... Just seems like direct deposit would introduce a lot more variables than the simplicity of epass or mailing checks provides. But then, like I said, I'm no accountant... just shooting from the hip here. __________________ -D. ICQ: 202-96-31 Last edited by D; 01-10-2007 at 01:29 PM..

01-10-2007, 01:37 PM	#13
pocketkangaroo Confirmed User Join Date: Jan 2005 Location: Chicago, IL Posts: 8,452	I'd love for more sponsors to offer direct deposit. I am also kind of surprised that it isn't more standard by now. For security concerns, how much different is it than a wire?

01-10-2007, 01:58 PM	#16
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	It's probably a scam to charge webmasters for wire fees, programs work out a deal with a bank to send out wires at $5 each in bulk, then charge $30-$40 each webmaster for a wire.... (well, probably not, but I don't really see any other logical reason why more programs wouldn't offer direct deposits) __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager Last edited by woj; 01-10-2007 at 01:59 PM..

01-10-2007, 02:00 PM	#17
jayeff Confirmed User Join Date: May 2001 Posts: 2,944	Because the majority just play follow-my-leader in payment methods as in most other things?