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Alamy.com / Re: Alamy discontinuing cheque payments
« on: September 07, 2010, 08:07 »
ACH Transfers do not cost you anything. You are giving the same information that is on your checks that you write.
This is the Alamy Blog post:
Update on USD payments
Permalink17 August 2010 at 15:10 by James Allsworth - Content Executive
Posted under Boring but necessary announcements, News
We are making plans to phase out check payments by the end of the year. With checks there can be issues with them being lost or delayed by the postal system. As a form of sending payment out, they are also not very cost effective.
If you are currently set up to be paid by check, now is a good time to change the method of payment to funds transfer in preparation. You can do this by going to My Alamy and then Change payment and tax details". Your money will be sent via direct deposit ACH transfer.
For Contributors who currently receive wire transfers these will change to ACH direct deposits on September 1st. This method will save you money if your bank charges you for receiving wire transfers. For this we need your bank's 9 digit routing code without dashes or spaces. This will be the 9 digit number on the bottom of your checks to the left of your account number. (The routing code number is also known as the ABA number, routing transit number (RTN), ACH RTN or FED WIRE number). If you currently have a SWIFT (8 or 11 alphanumeric) code or CHIPS (6 digit) number as your routing code, please make the changes as soon as possible from within My Alamy in preparation of the changes.
Your bank should not charge you for receiving money this way and we do not charge you any fees for this. Please note that even though we may be using your FED WIRE number, we are not sending you a FED WIRE payment (this typically incurs a fee), we are sending you a direct deposit ACH transfer.
We will also need to know whether your account is a Checking, Savings or Loan account. We will automatically default everyone to have a Checking account, so you only need to change your details if your payments currently go to either a Savings or Loan account.
Again, we do not charge any fees for sending funds transfer payments and any money due to you will be clear in your account within 3 working days of us sending it.
This is the Alamy Blog post:
Update on USD payments
Permalink17 August 2010 at 15:10 by James Allsworth - Content Executive
Posted under Boring but necessary announcements, News
We are making plans to phase out check payments by the end of the year. With checks there can be issues with them being lost or delayed by the postal system. As a form of sending payment out, they are also not very cost effective.
If you are currently set up to be paid by check, now is a good time to change the method of payment to funds transfer in preparation. You can do this by going to My Alamy and then Change payment and tax details". Your money will be sent via direct deposit ACH transfer.
For Contributors who currently receive wire transfers these will change to ACH direct deposits on September 1st. This method will save you money if your bank charges you for receiving wire transfers. For this we need your bank's 9 digit routing code without dashes or spaces. This will be the 9 digit number on the bottom of your checks to the left of your account number. (The routing code number is also known as the ABA number, routing transit number (RTN), ACH RTN or FED WIRE number). If you currently have a SWIFT (8 or 11 alphanumeric) code or CHIPS (6 digit) number as your routing code, please make the changes as soon as possible from within My Alamy in preparation of the changes.
Your bank should not charge you for receiving money this way and we do not charge you any fees for this. Please note that even though we may be using your FED WIRE number, we are not sending you a FED WIRE payment (this typically incurs a fee), we are sending you a direct deposit ACH transfer.
We will also need to know whether your account is a Checking, Savings or Loan account. We will automatically default everyone to have a Checking account, so you only need to change your details if your payments currently go to either a Savings or Loan account.
Again, we do not charge any fees for sending funds transfer payments and any money due to you will be clear in your account within 3 working days of us sending it.
