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Thread: Affiliate marketing payments

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    Affiliate marketing payments

    I have a problem. I am entering the world of internet marketing - and specifically - affilliate marketing. My target market will be the US and UK because most of the merchants and customers are there. The affiliate merchants will only pay commissions in USD cheques, direct deposit, or Paypal. Is there any legal way I can establish a savings account in USD offshore without having to meet the ridiculous minimum deposit requirements demanded by most banks? I would be receiving commissions from a number of merchants and merchant programs like ClickBank. I need a vehicle to obviate the costs of receiving USD cheques here, paying all the fees, and waiting weeks before clearance. This is not an attempt to build up offshore funds but rather to enable me to legally - and efficiently - get my offshore income back to SA

    I would be able to provide contractual proof of agreements with affiliate merchants/programs.

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    Gold Member daveob's Avatar
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    The best I have seen was Lloyds TSB, where you can have Stirling, US$ and € accounts all for a monthly fee of about £7.50 per month.

    Only you need a minimum balance of 100 in each account ( £100 / $100 / €100 ).

    Transfers back to your SA account costs between £13 and £19, depending on how fast you want the transfer to happen. Usually not a consideration if the transfer amount is ZAR10,000+, but if you're talking about smaller amounts earned from affiliate income, it may not be that attractive to you.

    Alternative to the swift bank transfer is to use the debit card that you get with the account - you can draw cash at the ATM, buy groceries, etc. That's what I do and there's no red tape or paper trail asking where the cash came from.

    Otherwise you may want to "phone a friend" who already has the offshore accounts set up and use that as a vehicle for your fund flows. Depending on the amounts your talking about.
    Watching the ships passing by.

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    Quote Originally Posted by daveob View Post
    The best I have seen was Lloyds TSB, where you can have Stirling, US$ and € accounts all for a monthly fee of about £7.50 per month.

    Only you need a minimum balance of 100 in each account ( £100 / $100 / €100 ).

    Transfers back to your SA account costs between £13 and £19, depending on how fast you want the transfer to happen. Usually not a consideration if the transfer amount is ZAR10,000+, but if you're talking about smaller amounts earned from affiliate income, it may not be that attractive to you.

    Alternative to the swift bank transfer is to use the debit card that you get with the account - you can draw cash at the ATM, buy groceries, etc. That's what I do and there's no red tape or paper trail asking where the cash came from.

    Otherwise you may want to "phone a friend" who already has the offshore accounts set up and use that as a vehicle for your fund flows. Depending on the amounts your talking about.
    Thanks very much Dave.

    Was this on a personal or business account at Lloyds?

    can I PM you?

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    Site Caretaker Dave A's Avatar
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    Can't they just pay directly into a Paypal account?
    The trouble with opportunity is it normally comes dressed up as work.

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    Gold Member daveob's Avatar
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    Quote Originally Posted by Dave A View Post
    Can't they just pay directly into a Paypal account?
    Problem with living in SA, is that PayPal will allow you to Send payments via your PayPal account, but you can not Receive funds into your PayPal account.

    Might have something to do with :
    a. government red tape
    b. corrupt officials
    c. too many fraudulent transactions
    d. reserve bank restrictions
    e. all of the above


    So you could set up your PayPal account from another country, but you still have the problem of getting the funds into SA.

    With the Lloyds option, I just use my debit card to do the monthly shopping at Pick n Pay, buying accessories, etc. That way the funds never came via my SA accounts and no red tape or questions.
    Watching the ships passing by.

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    Hi guys,

    Afraid the Lloyds option didnt work either. Spoke with Basil who was sympathetic but he stressed that if anything like business related monies went into the account they would close it. Ive had the same response from HSBC as well.

    I cant believe the attitude - and apparently it has a lot to do with the huge money laundering problems. Seems a bit crazy to punish someone who is trying to earn a living - because they dont have efficient controls over money laundering!

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    I have done the affiliate marketing intensively a couple of years ago. Just a word of caution if you want to promote something by using adwords, be careful that you don't spend more than you earn, you need thousands of visitors(clicks) for each sale. I have had no real success with Clickbank. The 2 or so checks I got from them wasn't that difficult to cash-my bank cleared it for me before they went through the process of clearing foreign cheques- takes a few weeks because they send it back to the original bank before they can clear it unless you have , like I had , a large enough overdraft facility or enough funds in your account in which case they will clear it instantly. It was a nuisance later on when I didn't have that luxuries anymore. Cheques from Google( Adsense) is in Rand so there is no foreign exchange rate but it still took a few weeks. Cheques was the only way I found to receive payments from affiliates, because like mentioned, Paypal doesn't work for SA's and other methods aren't supported by most affiliate sites(Like Moneybookers or Neteller) If you want I can introduce you to a few affiliate sites if you want to try them. Good luck

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    Hi Conan,

    Thanks for the heads up. I am going to attack it by focussing on very tight market niches, via different websites. Well see how it goes - I think it is more work than people realise, so I am prepared for lots of input for very little return initially.

    I have got quite a list of Affiliate Networks and independent affiliate programs and I am spending quite a lot of time on the specialist affiliate forums as well.

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