This article outlines tips and best practices for affiliates in order to receive their affiliate payments on time. We had received a few complaints about some forex and binary options affiliate programs not paying out on time. Upon further investigation it was revealed that most forex and binary options affiliates do not pay due attention on the affiliate payment aspects. So what can affiliates do in order to receive affiliate payments on time?
Choose the most credible payment providers
Most affiliate programs offer affiliate payments that include eWallets such as Paypal, Moneybookers as well as direct bank wire transfers. Perhaps the most critical element of managing a successful affiliate business is by ensuring that you have an account with credible eWallet providers such as Paypal or Moneybookers. While some affiliate programs pay the affiliate payments through other means, affiliates must take caution with which payment provider they wish to open an account with. Refer to this article about how QuickTender shut down its eWallet business.
Payment providers such as Paypal, Moneybookers have been around for many years, besides the fact that they are also legally registered with the respective Financial Services Authority. This only means that your money is safe and secure unlike other fly-by-night payment operators.
Keep your account in good standing
Credible payment providers always ask for verification documents in order to verify your account. Considering the amount of fraud that happens online, it is always imperative, from an affiliate’s perspective to ensure that their accounts are in good standing. Most payment providers require documents and verification as per the anti money laundering laws. Take a proactive approach and speak or email the customer service and ensure that your eWallet accounts are in good standing. The last thing any affiliate would want is to have their affiliate payments stuck in their eWallet accounts.
Most affiliates in the US usually deal with lots of restrictions when it comes to making use of their eWallet systems, a problem voiced by many affiliate programs. Quite often this is misinterpreted as the affiliate program not paying out the affiliate payments on time, but the truth is far from it. Despite having your eWallet accounts in good standing, most payment providers usually reject payments to US based eWallet accounts. An alternative to this obstacle would be to make use of Bank WIRE in order to receive your affiliate payments.
Bank WIRE’s are a long process, but a good alternative in case affiliates face any problems with their eWallet accounts. Always check with your bank and keep handy details such as your account number, SWIFT Code, Routing Number (for US Accounts) and any intermediary bank details. While Bank WIRE’s are usually expensive (approximately $30 for transaction) it is a good option for affiliates who are unable to make use of their eWallet systems.
Probably the least preferred method to receive your affiliate payments, but if in case your bank doesn’t offer international bank WIRE’s or for whatever reason, affiliates can take advantage of getting their affiliate payments using Checks. Make use of this option as a last resort only because there have been instances of checks being lost in transit or arriving a bit too late. Besides these factors ensure that the information on the check matches with your identity.
Remember! Affiliate programs, at least the serious ones do not intentionally delay your payments. Transferring funds across countries is a time consuming complex process in itself. By taking a proactive approach, affiliates can ensure that their payment methods are always up to date and verified, so when the next affiliate payments comes knocking, you can enjoy your rewards without any hassles!