Wonderful news from Clickbank – they are now offering WEEKLY payments as an option for affiliates and publishers. Anyone who knows anything about ol’ PotPieGirl knows I love me some Clickbank! Being able to get paid on a weekly basis is awesome news for me!
Introducing Weekly Payments From Clickbank
If you check within your Clickbank account, you will see recent news items from the Clickbank staff. Look for the one that says “2008-08-27 New Payment Schedule Coming”
Clients Receiving Weekly Payments (Direct deposit only)
To receive weekly payments you must elect this option in your account. We will provide more information on selecting weekly direct deposit payments once this feature is released. Clients electing to receive weekly payments will receive 52 payments a year.
Pay periods for accounts receiving weekly direct deposit payments end at 12:00:00 a.m. Pacific Time every Wednesday. The first weekly pay period of the new schedule ends Wednesday, September 24, 2008 at 12:00:00 a.m.
Period settlement occurs the Wednesday one week after the pay period ends. The first period settlement entry for accounts that receive weekly direct deposit payments occurs on Wednesday, October 1.
Payment distribution occurs the second Wednesday two weeks after the pay period ends. We will issue the first weekly direct deposit payment to clients on Wednesday, October 8.
Yup, it is a little confusing (at least for me it was, lol!). Clickbank gives a nice little pdf calendar to look at that gives a better ‘visual’ of how all this will work. You can see that here.
The Rules For Clickbank Weekly Payments
Yes, there are rules to be eligible to receive weekly payments.
First off, you have to elect direct deposit as your payment method. Wait, it gets better. In order to be eligible for direct deposit (and weekly payments), you have to have already received three paper checks from Clickbank.
So, if you haven’t had your first three paper checks, keep this info in your ‘back pocket’ and remember to consider this option after your third check.
If you HAVE received at least three paper checks from Clickbank, now looks like a good time to change your payment options to Direct Deposit to be able to take advantage of the weekly payments when they start. Not only does Direct Deposit save you potential bank fees and save time GETTING your money, also just think of all the TREES we can save with less paper checks!
Complete instructions to change your payment method can be found here. I did it last night, and it was quick and painless.
Seems that if you want to begin receiving Direct Deposit payments from Clickbank the next payment, you need to change your payment method option by the 8th of this month. To me, this was a good time. The paper check payment we are all about to get is already in the mail so I don’t have to worry about messing that up. Now, my next payment for the pay period ending 9-01-2008 will be a direct deposit. Then, according to Clickbanks calendar, I should start receiving weekly payments via direct deposit on 10-08.
Works for me!
As usual, there is a disclaimer to all this. This is how *I* understood all that I read about these payment options. Please be sure to check with Clickbank for your own unique situation and needs.
Thanks, Clickbank! This is awesome!