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Thread: Receiving payments in another currency than USD


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Permlink Replies: 4 - Pages: 1 - Last Post: Dec 7, 2017 2:50 PM Last Post By: Gabriele Threads: [ Previous | Next ]
Tomáš Jonáš

Posts: 1
Registered: 07/23/17
Receiving payments in another currency than USD
Posted: Jul 24, 2017 12:52 AM
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Hey guys,

I am the publisher from the Czech Republic and when I am asked to fill in my bank account information there's automatically filled that I will receive my payments in EUR. Currency in the Czech Republic is Czech crown. I want to ask how it works. My royalties are counted in USD and then converted to EUR by Amazon and then send me in EUR? I heard that Amazon pay based on the primary currency that is in the location of the bank that holds the particular account, that would mean that my royalties would be counted in USD, then transferred by Amazon to Czech crown and then send to the Czech Republic. I try to discover if I should create an account in EUR or just to fill in my account in Czech crowns that I already have (in which case I there will be fewer conversions). I contacted the support also, but I didn't receive any response yet. So please if there is someone who can explain to me how this system works I would be grateful.

Best regards,

Tomáš
Donna St Felix

Posts: 5,655
Registered: 09/18/13
Re: Receiving payments in another currency than USD
Posted: Jul 24, 2017 4:00 AM   in response to: Tomáš Jonáš in response to: Tomáš Jonáš
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Tomáš Jonáš wrote:
I am the publisher from the Czech Republic and when I am asked to fill in my bank account information there's automatically filled that I will receive my payments in EUR. Currency in the Czech Republic is Czech crown. I want to ask how it works. My royalties are counted in USD and then converted to EUR by Amazon and then send me in EUR? I heard that Amazon pay based on the primary currency that is in the location of the bank that holds the particular account, that would mean that my royalties would be counted in USD, then transferred by Amazon to Czech crown and then send to the Czech Republic. I try to discover if I should create an account in EUR or just to fill in my account in Czech crowns that I already have (in which case I there will be fewer conversions). I contacted the support also, but I didn't receive any response yet. So please if there is someone who can explain to me how this system works I would be grateful.

Payment is in the currency where you live - or rather, where your bank is.
cdalebrittain

Posts: 11,287
Registered: 03/05/11
Re: Receiving payments in another currency than USD
Posted: Jul 24, 2017 6:33 AM   in response to: Tomáš Jonáš in response to: Tomáš Jonáš
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When you filled out the bank information, did KDP accept it? I ask because there are only a few countries where you can have your earnings directly deposited.

I had not thought that Amazon would deposit your earnings in crowns, so you would be better off getting a euro account. But to be sure, ask KDP directly, using the Contact link at lower right.

If you are in a country where Amazon does not deposit the money directly into your account, you will have to wait until your total earnings are $100, and then you will receive a check/cheque, in US dollars.
Ward Rogers

Posts: 1,308
Registered: 12/02/16
Re: Receiving payments in another currency than USD
Posted: Jul 24, 2017 7:23 AM   in response to: Tomáš Jonáš in response to: Tomáš Jonáš
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You are paid in your own currency. The exchange rate is applied by your bank, not KDP, on the date of deposit, not the date the order is issued. There's nothing complicated about it.
Gabriele

Posts: 1
Registered: 12/21/16
Re: Receiving payments in another currency than USD
Posted: Dec 7, 2017 2:50 PM   in response to: Tomáš Jonáš in response to: Tomáš Jonáš
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Hello Tomáš!

I would like to move to Czech Republic, may I ask you how much is taxes for people that receive royalties from Amazon?! (No company)
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