No More ClickBank Commission Cheques…

April 7th, 2008 | by Paula Brett |

… or to many of my readers, this should read checks!

I caught a whiff a couple of weeks back that ClickBank were now offering direct bank transfer of commission payments. As I live in the UK, this was something that really interested me.

Contrary to popular folklore, apparently I’m a rare woman that doesn’t derive great pleasure in trawling round the shopping malls. Ewwww! If I can’t buy it or do it on line, then I try to avoid it!

Because of my aversion to shopping centres I rarely go into town and my visits to the bank are few and far between - once every 90 days with a wad of cheques to deposit all at once - US checks are only valid for 90 days, unlike UK ones, which are valid for six months.

Now, I’m delighted to say I can knock even these visits on the head and can stop paying a currency conversion commission to my bank for exchanging foreign checks.

So for all those that would find it much more convenient to have your commissions paid directly to your bank account, here’s the details that I received from ClickBank

Hello,

ClickBank is pleased to offer a new service, International Direct Deposit (XACH), for direct deposit of your ClickBank account payments!

XACH offers a fast and reliable method for direct deposit of your account payments in your local currency. Best of all, XACH is offered at no extra charge, including conversion to your home currency which is done at published market rates.

What information do we need to get you setup to receive XACH? To start XACH, we need your bank Account Number, and the International Routing
Code for your bank. You should be able to get both of these items from your bank. Please note that the International Routing Code is NOT the same as a SWIFT or IBAN code. Please see the information below for information about International Routing Codes as the vary by country.

Be sure to let us know all of your ClickBank accounts that you want setup to receive XACH. Deadlines to receive the information are as follows:

? For payments sent at mid-month, your information must be received prior to the 8th of the month.

? For payments sent at month-end, your information must be received prior to the 23rd of the month.

Here’s how the timeline for XACH payment works. For periods ending on the 1st of the month (for example, the 12-01 period), XACH payments are sent on the 15th of the same month (the same day a paper check would have been mailed). If the 15th falls on a weekend or holiday, then the XACH payment will be sent on the first business day following the weekend/holiday.

For periods ending on the 15th of the month (for example, the 12-16 period), XACH payments are sent on the last day of the same month (the same day a paper check would have been mailed). If the last day of the month falls on a weekend or holiday, then the XACH payment will be sent on the first business day following the weekend/holiday.

Once sent, XACH payments take only a few days to reach your account, depending on what country your account is in. Specifically, payments take 1-2 days for Canada, 2-3 days for Australia, Belgium, France, Germany, Ireland, Mexico, The Netherlands, and New Zealand, 3-4 days for Austria, Switzerland, and the United Kingdom, and 4-5 days for Spain

United Kingdom
Account number – 8 digits numeric. Add leading zeros if less than eight digits. For example, if the account number is 123456, the account number you use is 00123456. Savings accounts at banks are assigned a sort code and account number, just like checking accounts. For these accounts, follow the same guidelines as for checking accounts.

Note Building Society collection accounts cannot be used for XACH.

International routing code (sort code) 6 digits numeric. The sort code is six digits.

If you have any further questions, feel free to contact us!

Regards,

ClickBank Accounting

Now obviously if you’re not in the UK, you’ll need to email them at

paychecks at clickbank dot com

and ask them about your International Routing Code if you are not sure (for UKers it’s what we call the Sort Code).

Then simply email them at the address above, give them your name, your ClickBank nicknames and tell them your bank details. Within about twenty minutes I had a reply back from them confirming that it was all set up and I’ve already received payments to my bank account. Fantastic! No more queuing in the bank!

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