Clickbank affiliates who log into their accounts on a regular basis will already be aware of this, but a few days ago Clickbank (finally) launched a blog (WordPress) – they intend to publish a couple of time per week, which will be very welcome for both Clickbank publishers and affiliates.
Clickbank are one of the largest affiliate organizations in the world, but news from Clickbank often took a long time to filter out of the organization, often only through people with inside connections such as Harvey Segal at the Clickbank Forum.
Also being a private company they have never been obligated to provide financial details in public, so press releases and news isn’t in any way a legal obligation compared to public companies.
The first substantial post, other than an initial welcome message is by Clickbank CTO Monty Sooter who delves into some of the new features coming in the future.
- More internationalization
- Client to client communications
- A new publisher referral program
- Extension of electronic payments to our clients
Adrian has also published full instructions on the information you have to provide to Clickbank
XACH is available for the following countries now
- The Netherlands
- New Zealand
- United Kingdom
One massive caveat that Rosalind discovered is that Clickbank direct deposits must be made in local currency, so if you are in the UK, you would get deposits in GBP. You couldn’t get payment to a USD account even if it is a UK bank account.
For people in the US this might not be a significant change, but for smaller publishers who didn’t meet the requirements of Clickbank’s Wire Transfer service and didn’t want to pay a $35 fee for each transfer, this is a major change.
In the past I have avoided promoting Clickbank products because of the hoops I have to jump through to cash checks. Endorsing cheques (yes I do know how to spell it the English way too) when you live in a different country to your bank is a pain, plus I normally have cheques posted to my UK address.
The XACH service apparently is free and they use bank rates of exchange – That makes Clickbank quite attractive for a payment processor and affiliate management system for international publishers – no worries about tax paperwork for your affiliate army.
You might think you receive your money with PayPal faster, but that is not always so clear for those living outside the US. It takes 5-7 days to withdraw money from PayPal, so Clickbank works out only a little slower.
For an affiliate promoting many affiliate products that are paid through PayPal, the merchant may only make payments at the end of each month, and I have personally experienced payment delays of up to 3 months.
Clickbank does hang on to a rolling percentage of what is withdrawn, but if you are actively promoting Clickbank products, that isn’t a major problem – I don’t think it is too much of a burden for merchants either.
Last year I had one good friend contact me for advice on Paypal – it was more for moral support than anything else – they had something like $50,000 frozen by Paypal and still had to meet affiliate obligations – something like that can destroy a business – and this was a situation which had been going on for over 6 months.
A lot of the bigger internet marketers now use merchant accounts and pay their affiliates by check – I really don’t like checks.