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Alamy says 'Paid'. How long until receipt?


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Hi

 

My Alamby balance finally crossed $75 for the firstg time and I was due to be paid $85.65 today into my UK £GBP bank account.

 

How long does this take?

 

"Total sales:

  $171.26 Commission / charges: $-85.61 Total payments to you: $-85.65 Balance carried forward: $0.00 Cleared balance: $0.00 Next payment date: Not due  

Should it arrive the same day, or is there a standard timescale of which I should be aware?

 

Many thanks.

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Thanks.

 

Having worked in banking, in many areas, I was hoping that the currency conversion would be done as they opened for business and the Faster Payments System would have settled same day, usually well within 2 hours.

 

Oh well, I will know for next time.

 

Regards

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You should know, but I understood that Faster Payments is intended for individuals and that businesses use BACS. In any case Alamy payments go through a currency conversion- would they even be eligible for FP? Their payment system long predates it.

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Hello. :)

The currency conversion is a separate transaction.

 

They know the previous week what they are to pay out in 1st of each month. They can easily sell that to their bank/in the market 'spot' for deliver in 2 working days.

 

A simple database extraction into a spreadsheet could allocate how much of the resultant £GBP was allocated to each client.

 

Faster Payments can be used by businesses up to a certain value. (It's quite high!)

 

Extracting the £GBP conversions into an automated payment system is very straightforward.

 

It's equally simple if recipients wish to receive payments in other currencies.

 

I'm not being too critical of Alamy as such, but there are quicker and easier ways of doing things in this day and age.

 

And it is/was one of my specialities during decades with NatWest Bank.

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  • 4 months later...

It's a stock reply- that's the longest it takes. Those of us on bank transfer usually get it in 4, but there's a holdup this month.

 

It's been 7 days and I still haven't received it, which is a bit strange all things considering PayPal payments are received in seconds. I understand Alamy is a company and it might be making mass payments, but  "there's a holdup this month" doesn't inspire much confidence. Anyway, it will be interesting to see when it arrives.  

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It's a stock reply- that's the longest it takes. Those of us on bank transfer usually get it in 4, but there's a holdup this month.

 

It's been 7 days and I still haven't received it, which is a bit strange all things considering PayPal payments are received in seconds. I understand Alamy is a company and it might be making mass payments, but  "there's a holdup this month" doesn't inspire much confidence. Anyway, it will be interesting to see when it arrives.  

 

I refer only to bank transfer and it's the first delay in years.

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