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Alamy's bank is charging transfer fees


H Kotowski
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I have been contributor to Alamy for 10 years and it had been smooth until this year. The US bank takes every time USD 15 from the transferred amount. I have contacted Alamy a few times but they seem to be ignorant of this. I am receiving payments from other sources to the same bank account (in EU) and nothing like this happens.

This is new - started in April 2021. Is this connected in some way with the change of ownership or the Brexit?

No clue so far from Alamy - such things should be clearly stated in the contract.

Has anyone same problem with bank transfers from JPMorgan/Alamy?

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I have my Alamy money sent to me JPMorgan checking account and have no fee collected. My account has enough automatic money coming into it that I am not subject to those fees. That is the bank policy, not Alamy. I'm in the USA.

 

Paulette

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Yes there's always a fee and it can be as high as $25. Annually it's about $200.

I have kept a record of all payments including the exchange rates on the day Alamy reports the money has been transferred and the day the money is in the bank at my end. There's nothing that can be done about it, so I stopped recording it last year. Too depressing.

A solution that works is having a US bank account, which I have, but then the IRS comes knocking. (Depending on the amount you're earning of course.) According to my accountant it's far cheaper to accept the loss and only pay taxes in one place.

 

wim

 

edit: Part of the fee is from my/your own bank btw. This is normal for a transaction outside SEPA. In this link it's explained which countries are part of it (and why the EU was such a good idea).

 

Edited by wiskerke
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I might have not made it clear enough. In ten years the bank had been transferring the net amount indicated by Alamy. Last such transfer was made in February 2021 - no deduction from the net amount. In April 2021 JPMorgan deducted USD 15 and now in August 2021 the same - deduction of USD 15. I receive payments from other sources and no surcharge is being made. My bank takes a small fee for the incoming wire from outside the EU which is indicated by my bank. So this is odd and rather recent. Anyone in the EU that has noticed the extra surcharge?

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59 minutes ago, H Kotowski said:

I might have not made it clear enough. In ten years the bank had been transferring the net amount indicated by Alamy. Last such transfer was made in February 2021 - no deduction from the net amount. In April 2021 JPMorgan deducted USD 15 and now in August 2021 the same - deduction of USD 15. I receive payments from other sources and no surcharge is being made. My bank takes a small fee for the incoming wire from outside the EU which is indicated by my bank. So this is odd and rather recent. Anyone in the EU that has noticed the extra surcharge?

 

Would it not be best to ask your bank?

 

Jill

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Well, it seems that some people do not read but hasten to respond.

My bank does charge about USD 3 for incoming transfers from outside the EU and it is clearly indicated.

In February 2021 I received the net amount from Alamy without any deduction, in April 2021 the bank deducted USD 15 and in August again a deduction of USD 15. Alamy says their account was charged with the net amount so the bank took surcharge but without any warning nor information.

PayPal - as far as I remember - takes a juicy commission on transfers - once they took USD 75 on a transfer of USD 1500.

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43 minutes ago, H Kotowski said:

Well, it seems that some people do not read but hasten to respond.

My bank does charge about USD 3 for incoming transfers from outside the EU and it is clearly indicated.

In February 2021 I received the net amount from Alamy without any deduction, in April 2021 the bank deducted USD 15 and in August again a deduction of USD 15. Alamy says their account was charged with the net amount so the bank took surcharge but without any warning nor information.

PayPal - as far as I remember - takes a juicy commission on transfers - once they took USD 75 on a transfer of USD 1500.

 

Alamy absorbs the Paypal fees.  I pay nothing on my Paypal earnings from Alamy, it just takes about a week or so to get it..

 

Jill

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