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Cleared balance enigma


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On May 31st, I had a fairly healthy cleared balance showing. However, on the next day the amount transferred to PayPal by Alamy was considerably less, and the difference was rolled over into June's cleared balance.

 

This happens a lot. Has anyone figured out why?

Edited by John Mitchell
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Could it be because the month ends on or close to a weekend?

And then there's the time difference between the UK and India.

If you make a note of your daily views for a couple of days, you'll notice that there can be considerable corrections some days later. My guess is that has something to do with time zones as well.

 

wim

 

edit: wasn't there a US bank involved in all this? That would make matters even worse.

Edited by wiskerke
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1 hour ago, Ed Rooney said:

Gee, John -- Was going to ask if anyone in the forum had Alamy transfer their payments into PayPal. 

 

Edo

 

I've been using the PayPal option for several years with no problemas.

Edited by John Mitchell
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I've never had the problem under discussion, and the transfer into my American bank doesn't cost me anything, and has been quick and reliable. But because of the complications of finding myself a homeless international nomad, I may find switching to PayPal works better in the future. 

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7 hours ago, LawrensonPhoto said:

Isn't a bank transfer free for you then?, no way would I have a payment made through paypal knowing yet another fee would be made.

 

There is no fee taken for your Alamy payment.  Alamy pays it.

 

Jill

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5 hours ago, Michael Ventura said:

John, I experience the same thing nearly every month, but the amount is never all that much.  I don’t know the answer as to why.

 

Same here. Glad to know I'm not alone. The only thing that I can think of is that there must be a cutoff date after which newly cleared funds roll over into the next month. But why would this not happen to everyone?

Edited by John Mitchell
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4 hours ago, Ed Rooney said:

I've never had the problem under discussion, and the transfer into my American bank doesn't cost me anything, and has been quick and reliable. But because of the complications of finding myself a homeless international nomad, I may find switching to PayPal works better in the future. 

 

Keep in mind that the PayPal option is slower. Recently the transfer process has been quicker, but it can take nine days for payments to reach your PP account and then a couple more days for it to hit your bank account. We don't have any other option in Canada because international direct deposit doesn't work (in order to hinder money laundering all that) and banks charge hefty funds for wire transfers.

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15 minutes ago, John Mitchell said:

 

Keep in mind that the PayPal option is slower. Recently the transfer process has been quicker, but it can take nine days for payments to reach your PP account and then a couple more days for it to hit your bank account. We don't have any other option in Canada because international direct deposit doesn't work (in order to hinder money laundering all that) and banks charge hefty funds for wire transfers.

then add the lovely FX fee as well :wacko:

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12 minutes ago, MandyD said:

then add the lovely FX fee as well :wacko:

 

But we do gain at least 25% when converting USD to CAN. Also, it's generous of Alamy to cover the PayPal fees. I doubt that another agency would do that.

Edited by John Mitchell
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36 minutes ago, John Mitchell said:

 

But we do gain at least 25% when converting USD to CAN. Also, it's generous of Alamy to cover the PayPal fees. I doubt that another agency would do that.

yup....think I will leave mine in my paypal account until needed and try to transfer when rates are decent.

Edited by MandyD
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