Permalink 15 September 2010 at 11:52 by James Allsworth - Content Executive
Posted under Boring but necessary announcements, News
© ClassicStockAs recently announced, we have been working on a project to phase out cheques as a method of payment. The first part of this is now live, and we will no longer be paying contributors via cheque in £GBP. We will shortly be phasing out cheques paid in $USD and EURO.
If you are one of the small percentage of Contributors due to be paid via £GBP cheque then your payment will be held until you provide us with your bank details for a BACS payment. You can enter this information by clicking "My Alamy" and then "Change payment and tax details". You will also have a reminder to do this displayed in your balance of account pages.
Cheques are being used less and less these days and can go missing in the post. They are also expensive to send out. BACS direct deposit is quicker, more efficient and there is no chance of the money being lost in the post. Remember, we do not charge any fees for paying this way and your bank should not either. For those of you who request transfer payments in EURO and $USD, we have switched to SEPA and ACH direct deposit respectively, meaning your bank should not charge you for the incoming payments* see below update. This is because they will now be domestic payments rather than international. Again, Alamy do not charge any fees for this.
If you have still opted to be paid via £GBP cheque, now is the time to update your details or your payment will be held. If you have opted to be paid via cheque in either $USD or EURO, now is a good time to update your details in anticipation of the future phasing out of these methods.
For future payment options, we are looking at offering Paypal as an alternative payment option, but more on this will be announced in due course.
*Update - this is only the case if your bank is based in the country of currency - e.g USD$ into a US bank. As an example, being paid USD$ into a bank not based in the USA will likely incur a fee from your bank, likewise with EURO and GBP£.
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