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Author Topic: Shutterstock July Payment Schedule Affected by Independence Day Holiday  (Read 5246 times)

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« on: June 27, 2016, 23:31 »
0
"Hello,

Due to the Independence Day holiday in the United States on July 4, Shutterstock will observe a modified payout schedule for June payouts.

June payouts will start processing after the holiday, on or around Tuesday, July 5. If you are eligible for a payment, youll see your earnings reset to $0. You will receive an e-mail from Shutterstock later that week. You will still receive your payment by the 15th, as per our Terms of Service.

Thank you for your understanding.

Shutterstock Contributor Support Team"


Does anyone received this email from SS too?


« Reply #1 on: June 28, 2016, 00:46 »
0
Yes. Standard procedure when a US holiday falls on a Monday.

« Reply #2 on: June 28, 2016, 01:26 »
+4
why cant they process it on friday 1 july? 3rd month in a row with payment delays is called a pattern, they are slowly moving the payment date so they can get more interest. they are gradually moving towards the 15th, a couple of millions in the bank for a week longer makes a nice interest if done every month.

« Reply #3 on: June 28, 2016, 02:22 »
+6
why cant they process it on friday 1 july? 3rd month in a row with payment delays is called a pattern, they are slowly moving the payment date so they can get more interest. they are gradually moving towards the 15th, a couple of millions in the bank for a week longer makes a nice interest if done every month.

Payment date is by 15th as its always been. There's plenty of things to complain about in this industry...this isn't one of them. What payment delays?

« Reply #4 on: June 28, 2016, 02:39 »
+1
Here we go again.

Yeah, real disaster if you'll receive your money a few days later.

« Reply #5 on: June 28, 2016, 02:58 »
0
I've having a mental block. If they move the date but it is still once a month on the same day of the month, say the 20th. Apart from the first month won't they still have the funds for the same amount of time? How would they benefit by paying on any particular day of the month if the dates are always the same distance apart (say 30 days or so)?

« Reply #6 on: June 28, 2016, 03:59 »
+1
I've having a mental block. If they move the date but it is still once a month on the same day of the month, say the 20th. Apart from the first month won't they still have the funds for the same amount of time? How would they benefit by paying on any particular day of the month if the dates are always the same distance apart (say 30 days or so)?

You are right  in any event 5 days interest is trivial at current rates. Yes I know they get higher rates than us mere consumers blah blah but they HAVEN'T moved the payment date anyway. I really don't why people have suddenly got so excited about the date of SS payouts

« Reply #7 on: June 28, 2016, 04:08 »
0
Thanks for that, I thought so. I don't think they would bother for a one off small interest payment.

« Reply #8 on: June 28, 2016, 05:19 »
+1
Thanks for that, I thought so. I don't think they would bother for a one off small interest payment.

Am I beginning to doubt my self...every month they would have "your" money for an extra 5 days so 60 days "extra" time per year. But I think its still relatively trivial even IF it happened and there is no reason to think it will.

« Reply #9 on: June 28, 2016, 08:06 »
+3
why cant they process it on friday 1 july? 3rd month in a row with payment delays is called a pattern, they are slowly moving the payment date so they can get more interest. they are gradually moving towards the 15th, a couple of millions in the bank for a week longer makes a nice interest if done every month.

Payment date is by 15th as its always been. There's plenty of things to complain about in this industry...this isn't one of them. What payment delays?

no matter what.. BY THE 15TH is the keyword to ponder.
last month was a good example of all those panic-strickened , yet we all did get paid
BY THE 15TH.
conserve your energy and just make more uploads, and trust us...

when it comes to being paid monthly... ss has never failed to do so...

Fudio

« Reply #10 on: June 28, 2016, 08:53 »
+2
I've having a mental block. If they move the date but it is still once a month on the same day of the month, say the 20th. Apart from the first month won't they still have the funds for the same amount of time? How would they benefit by paying on any particular day of the month if the dates are always the same distance apart (say 30 days or so)?

You are right  in any event 5 days interest is trivial at current rates. Yes I know they get higher rates than us mere consumers blah blah but they HAVEN'T moved the payment date anyway. I really don't why people have suddenly got so excited about the date of SS payouts

It all depends on the reporting period; which for Shutterstock is one calender month. Technically every day beyond a given reporting period that a company can hold money in limbo is a potential revenue stream for that company. Big business does it all the time. Banks hold cheques, box stores post cash sales daily, PayPal holds bank transfers for an extra for 3 to 5 days, and so on. Personally I'm surprised Shutterstock has historically payed out earlier than obligated anyway.

« Reply #11 on: June 28, 2016, 13:50 »
0
Oh yeah of course.  I was thinking about it as if it was day by day but of course we are paid earnings up to the last day of the previous month regardless so they get to hold onto it longer every month. Thanks for that I knew I was being dim.

« Reply #12 on: June 28, 2016, 17:03 »
0
 i am not complaining, just noticing a new trend, for the past 3 months there have been delay (apologies for calling it that for lack of having a better word, i know payday is by the 15th, officially) and it wouldnt surprise me if they are slowly moving towards paying on the 15th. that would allow them to have a few millions in the bank for 7-8 days. in fact they paid out 18 million last year, thats  1.5 million per month

hmmm, just did some calculations, it would make them about 15000 per year (4% interest) to keep the money for a week longer every month, probably will pay for their friday pizzas

dbvirago

« Reply #13 on: June 28, 2016, 17:36 »
+3
I agree that waiting a few days to get paid is not a problem, but hanging on to the mantra that they pay by the 15th is silly. They have never, ever paid anywhere near the 15th. Not once. Not in 10+ years. Below are the payout dates for the last 8 Julys. Regardless of what they say, when you do something the same way every month for over 100 months in a row, it becomes expected behavior.

July 6, 2015
July 7, 2014
July 3, 2013
July 6, 2012
July 7, 2011
July 9, 2010
July 6, 2009
July 9, 2008

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« Reply #14 on: June 29, 2016, 00:45 »
0
I concur. Was the 9th in May, the 10th in June.... and if it's the 11th in July then that'll do me just fine. That's when I get to Vietnam. I'm not going to die if I get it on the 15th, but sooner rather than later always works for me.


 

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