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Permlink Replies: 5 - Pages: 1 - Last Post: Jan 4, 2018 10:55 AM Last Post By: Janu Threads: [ Previous | Next ]
Janu

Posts: 5
Registered: 11/28/17
Bank details query from India
Posted: Jan 1, 2018 12:57 PM
 
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We are from India.My wife and I both are writing and publishing books on KDP.Because of EFT I signed up for Payoneer account and linked to my account.My wife also tried to sign up with Payoneer but her application got declined.She also wants EFT in her bank account.Could she also use the same Payoneer bank account details that I am using to take the benefit of EFT for the payment or she will have to wait for the threshold to be completed?
Maheshwaran

Posts: 25
Registered: 01/19/17
Re: Bank details query from India
Posted: Jan 3, 2018 4:19 AM   in response to: Janu in response to: Janu
 
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Just curious. Why not attach your existing bank account to receive royalties? Would have been much easier to operate, right?
Finch Field Drake

Posts: 8
Registered: 10/23/17
Re: Bank details query from India
Posted: Jan 3, 2018 7:56 AM   in response to: Janu in response to: Janu
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Keep things simple. If you have an account in your name, why not have your wife's books published by you in your account also? This will only become annoying if either of you becomes a best-selling author (which is a good problem to have.) The likelihood for 99% of authors is that you will receive a very tiny income. I wish you well, but to get started I would not bother to get a separate account for her and just put my energies into writing and marketing.
Donna St Felix

Posts: 6,052
Registered: 09/18/13
Re: Bank details query from India
Posted: Jan 3, 2018 1:16 PM   in response to: Maheshwaran in response to: Maheshwaran
 
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Maheshwaran wrote:
Just curious. Why not attach your existing bank account to receive royalties? Would have been much easier to operate, right?

It can cause problems at tax time and also with retirement income if sales sore.
Maheshwaran

Posts: 25
Registered: 01/19/17
Re: Bank details query from India
Posted: Jan 4, 2018 12:35 AM   in response to: Donna St Felix in response to: Donna St Felix
 
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Not sure I got this.
For every payment in each market place, Amazon requests user to provide the tax compliance. And depending on that it will deduct tax and send you the royalties.
So, how can this help in avoiding such?
Janu

Posts: 5
Registered: 11/28/17
Re: Bank details query from India
Posted: Jan 4, 2018 10:55 AM   in response to: Maheshwaran in response to: Maheshwaran
 
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Maheshwaram ,it is saying that you will get INR from 2 marketplaces i.e. India and USA.But from other 11 marketplaces it is showing their multiple currencies.My question is how will i get paid from another marketplaces.I am having ICICI bank in INDIA.Please advice me the best.Thank You.
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