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Author Topic: Seven day wait for money....  (Read 4234 times)

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jsnover

« on: August 20, 2008, 11:08 »
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I logged in this morning to find that I now have to wait 7 days for payments to clear (versus 3 before). They stated that it was increased instances of fraud.

I'm not saying I doubt their word, but it does seem odd that we have such different procedures and wait periods across the various sites. I'd have expected that they'd all be hit about equally (or not) with fraud problems. Why can't they place a hold on the results of purchases from first time buyers - which is I assume where the fraud comes from, not established accounts? Even though it'd be a nuisance to have some payments take longer to clear, it'd avoid this creep in the amount of time the sites hold our money.

The other possibility is for BigStock to up its payout threshhold to $50 from $30 (which is unmatched AFAIK) which would effectively make a bit more of a wait anyway.


« Reply #1 on: August 20, 2008, 11:53 »
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I saw that yesterday and it's indeed odd.  Maybe as they are a smaller business, they can't afford the risk.  But in a way this is better than what people reported here from FT (cancelled sales).

It annoys me more to think that apparently people can download images before their payment is authorized, so in the end they get the images (even if the license becomes void) but we get no pay.  I wonder why sales are only after its authorized by the credit cards.  If I purchase something online, it's not delivered to me until payment is clear.

Regards,
Adelaide

« Reply #2 on: August 20, 2008, 12:30 »
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They have always paid me quickly, so I don't mind waiting 7 days.  I have been waiting a couple of months for a payment to clear with alamy, so this is still a relatively short time.

lisafx

« Reply #3 on: August 20, 2008, 18:02 »
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I'm not crazy about the 7 days either.  I would much rather they raise the payout threshhold.  I don't request until I have $100 anyway. 

But sharpshot does make a good point - they pay out very quickly after a request.  Usually within a day. 

« Reply #4 on: August 21, 2008, 07:15 »
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What kind of fraud are they talking about anyway?  It would have been nice if they were more specific.

« Reply #5 on: August 21, 2008, 09:53 »
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I completely agree with you.  Why can't the stocksites require the payment be verified before releasing the photo for download?  Not only that, but give the buyer a specific time frame during which they can download the photo (say 3-5 days) once the payment has been processed.  If you go to a store and make a credit card purchase you can't leave with the merchandise until the credit card transaction has been approved (as in it goes through immediately or is denied).  Why can't stocksites do the same or more specifically why don't they?  If I make a purchase at an online store the merchandise isn't shipped until the transaction has been processed.

Marburg

I saw that yesterday and it's indeed odd.  Maybe as they are a smaller business, they can't afford the risk.  But in a way this is better than what people reported here from FT (cancelled sales).

It annoys me more to think that apparently people can download images before their payment is authorized, so in the end they get the images (even if the license becomes void) but we get no pay.  I wonder why sales are only after its authorized by the credit cards.  If I purchase something online, it's not delivered to me until payment is clear.

Regards,
Adelaide

RacePhoto

« Reply #6 on: October 22, 2008, 12:48 »
0
I saw that yesterday and it's indeed odd.  Maybe as they are a smaller business, they can't afford the risk.  But in a way this is better than what people reported here from FT (cancelled sales).

It annoys me more to think that apparently people can download images before their payment is authorized, so in the end they get the images (even if the license becomes void) but we get no pay.  I wonder why sales are only after its authorized by the credit cards.  If I purchase something online, it's not delivered to me until payment is clear.

Regards,
Adelaide

I think it's interesting that people are complaining about reversals of commissions on one site, where the agency has been defrauded and then complaining because there's a protective seven day wait at others.  ;D

Due to fraud incidents, a grace period of 7 days is required on image sales and 45 days on affiliate commissions (due to higher fraud risk) before a payment request can be made on the earned commission amount. Bigstock on the commissions page.

I'm still in the middle on this, because I don't mind waiting for seven days for payment confirmation, it's not that big of a deal. I also don't think I should get paid, when the agency didn't get paid.

If the agency gets nothing for the photos, I can't expect them to lose hundreds of dollars in sales and then pay me too? If we want them to pay commissions on stolen goods and soon be out of business, I  think it's short sighted.

Here's the problem and question?

As for sites that reverse payments and commissions, that are previously listed, don't they have the same CC protection as the corner gas station? These are electronic transactions, with what we can guess is stolen credit cards. If someone goes to the store and fills up their tank, buys beer and snacks, on my stolen CC, the company reverses the charges to me, the store gets their money for the goods and the CC company chases down the people who committed the fraud.

Why then, isn't it the same if someone buys photos with a stolen card, the Agency gets nothing and therefore the Photographer/Designer gets nothing, but the thief has the goods? Why doesn't the CC company cover this type of loss? If the CC company does cover these losses, then we should get paid. I suspect that somehow downloaded electronic goods are not covered the same way as a bag of groceries, tank of gas, or something that's physically delivered.

I need some help from someone who knows the answer on this. Why aren't fraudulent charges for photos the same as someone going to the corner store and using a stolen card?

If these charges are protected, we should get paid!


« Reply #7 on: December 16, 2008, 08:10 »
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I don't think this is a stolen CC type of Fraud. I'm new to BigStock, still waiting for my first batch of 20 to get approved. Looking around I noticed that I do not have the option to convert commissions to credits until after I've been a member for 60 days. I think the fraud, in part, is people signing up friends and family (like your 3 year old kid or 98 year old mother who can't see the monitor let alone be interested in purchasing images) or non-existent people in order to earn the referral commission. This is why several of the big players require that the referral purchase credits or upload images before they will honor the referral with a payment. On other sites these fake accounts are used to rate images in the main account or down rate images in competitors account, view images to change their rankings or to purchase small images in order to boost search results.

Once the account is discovered to be fraudulent anything that was done on that account is deemed as fraudulent. Ratings are removed, purchases are voided, and credits are forfeited.

Other sites have fewer issues with this because they require proof of Identification, have extensive contracts that must be signed or have a reputation for coming after you if you violate the policies.

As far as the wait time I've seen everything from 24 hours to 10 days. A lot depends on the site and how their accounting system is set up.
« Last Edit: December 16, 2008, 08:11 by azurelaroux »


 

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