Why don't more sponsors offer direct deposit?

[kenny]

I already posted this on another forum but it doesn't seem like it's getting much attention so I'll try it here to cover more bases.

I may be ignorant for the accounting reasons on why more sponsors don't offer this.

All I know is that there is a small percentage of programs that have this for a option and it seems like the best option.

No lost/stolen checks or wire fees.

I can't see how it's anymore difficult to setup then epass.

Somebody explain this to me.

Thanks

[Xeno]

Although I'm a link directory and not a sponsor, but I can easily say most of the time the reason would be the fees associated with direct desposits for most foreign bank accounts. Plus, I cannot confirm this, but I beleive a direct desposit would only work best if the sponsor is in the same country as you are ie: Canada or USA...not sure about internationally.

Personally, I am not sure I would want sponsors who I've not seen in person, met, or know enough to give out my personal bank information. Especially if you have a huge list of sponsors you've signed up with...

As for espass... I don't like them. Direct deposit would be nice though.

[Greenguy]

It would make sense that, for webmasters in the same country as their banks, the 1099 Independent Contractors could get paid via direct deposit if they do offer that option to the W2 employees that are on their payroll.

[kenny]

Originally Posted by NetGoonie

Although I'm a link directory and not a sponsor, but I can easily say most of the time the reason would be the fees associated with direct desposits for most foreign bank accounts. Plus, I cannot confirm this, but I beleive a direct desposit would only work best if the sponsor is in the same country as you are ie: Canada or USA...not sure about internationally.

Personally, I am not sure I would want sponsors who I've not seen in person, met, or know enough to give out my personal bank information. Especially if you have a huge list of sponsors you've signed up with...

As for espass... I don't like them. Direct deposit would be nice though.

It wouldn't think that it would cost more then cutting checks or epassorte fees.

I worked for a company some years back and they told me that it cost them like $1 a transaction or something small like that.

Might depend on the bank or what not.

As for the personal bank information I can't see anymore difference security wise then writing a personal check.

As for the international thing you have a point there.

[kenny]

Originally Posted by Greenie

It would make sense that, for webmasters in the same country as their banks, the 1099 Independent Contractors could get paid via direct deposit if they do offer that option to the W2 employees that are on their payroll.

It doesn't look very expensive when looking at these bank sites

I could do it with bank easy if I had to

https://www.wellsfargo.com/biz/produ...bob/directpay/

[kenny]

Direct Pay access costs $10 per month.

Payments to Personal Accounts of Employees or Contractors: There is no per-payment charge for payments made to Wells Fargo personal bank accounts. Payments to non-Wells Fargo personal bank accounts are $0.50 per payment.

Payments to Business Accounts of Vendors or Service Providers: All payments made to business bank accounts are $3.

There is a one time set-up fee for Direct Pay of $24.95 (waived until December 31, 2007).

That has to be cheaper then cutting checks..

I imagine most banks are similar in cost

[kenny]

Bank of america offers it and I know of sponsors that use this bank but don't offer DD.

http://www.bankofamerica.com/smallbu...=tm_direct.cfm

[RamCharger]

Originally Posted by NetGoonie

Personally, I am not sure I would want sponsors who I've not seen in person, met, or know enough to give out my personal bank information. Especially if you have a huge list of sponsors you've signed up with...

I agree with you on being uncomfortable about handing a stranger my banking information, but, unfortunately, I believe that the cashed checks that arrive back at the person who wrote the check will have your banking information buried (routing number, account number, etc) in the numbers that get stamped on the back. Not to hard to find out what else is needed for identity theft. Sucks, but the banking system was designed in a different era. Kinda makes you wonder why the 419ers don't just ask you to send them a check for a dollar or something instead of using "clever" emails.

[Toby]

Originally Posted by NetGoonie

Personally, I am not sure I would want sponsors who I've not seen in person, met, or know enough to give out my personal bank information.

Every time you write a personal check you are doing just exactly that. All the account and routing information is at the bottom of every one.