How To Open a Payoneer Account For Amazon KDP

Introduction.

Opening a Payoneer account is one of those small steps that can make a huge difference for anyone looking to sell books on Amazon KDP.

Amazon’s Kindle Direct Publishing (KDP) platform gives independent authors and content creators a way to publish their work worldwide, but if you’re an author outside the U.S., getting paid can sometimes be tricky. That’s where Payoneer comes in.

Payoneer is a payment platform that allows you to receive funds from companies around the world. It’s incredibly popular among freelancers, entrepreneurs, and—yes—self-published authors.

With Payoneer, Amazon KDP authors can receive their royalties in a cost-effective way, avoiding some of the high international fees that can come with other payment methods.

This is especially useful if you’re looking for a straightforward, reliable way to access your earnings without high fees cutting into your profits.

In this guide, I’ll walk you through the process of opening a Payoneer account specifically for Amazon KDP.

Why Use Payoneer for Amazon KDP Payments?

Amazon pays KDP royalties through either direct deposit (for select countries), U.S. bank transfer, or check. However, not all countries are eligible for direct deposit. This is where Payoneer steps in as a helpful alternative for receiving your payments. Here are a few reasons why Payoneer might be a better choice than other options:

Ease of Receiving Payments
Payoneer allows you to receive payments from Amazon as if you had a U.S. bank account, even if you don’t live in the U.S. The platform provides users with a virtual U.S. bank account number, so you can receive funds in USD directly from Amazon without dealing with currency exchange hassles.
Low Fees
Compared to wire transfers or international bank fees, Payoneer offers reasonable and straightforward pricing. Amazon doesn’t charge you to deposit royalties into your Payoneer account, and Payoneer’s fees for transferring money to your local bank are often lower than traditional banks’ international transfer rates.
Flexibility with Currency
If you’re outside the U.S., Payoneer allows you to hold your money in multiple currencies, including USD, GBP, and EUR, giving you options for exchanging your royalties at more favorable rates.
Access to a Prepaid MasterCard
Payoneer offers a prepaid MasterCard linked to your account, letting you withdraw funds from ATMs worldwide or spend directly from your account wherever MasterCard is accepted.

How Do I Open a Payoneer Account For Amazon KDP?

Setting up a Payoneer account is straightforward. Here’s a step-by-step guide to getting started with your Payoneer account for Amazon KDP:

1. Go to Payoneer’s Website.

Head over to the Payoneer website and click on the “Sign Up” button to start the registration process.

2. Enter Your Details.

Fill in your personal information, including your name, email, and date of birth. Make sure your details match those on your government-issued ID, as you may need to verify your identity later on.

3. Set Up Your Security Details.

Choose a secure password and set up security questions. This step helps protect your account, so pick answers you’ll remember but that is hard for others to guess.

4. Enter Your Address and Phone Number.

Add your mailing address and phone number. This information is essential for verification and for receiving the Payoneer MasterCard, should you choose to apply for one.

5. Add Bank Account Details.

This step is crucial, especially if you plan to transfer your funds to a local bank. You’ll need to enter your bank details accurately to ensure smooth transfers later.

6. Verify Your Account.

Payoneer will typically ask you to verify your identity by uploading a government-issued ID. This process can take a few days, so be patient.

7. Link Your Payoneer Account to Amazon KDP.

Once your Payoneer account is set up, head to your Amazon KDP dashboard. Go to “Account Settings,” select “Royalty Payments,” and choose the U.S. bank account details provided by Payoneer. Enter these details as your payment method on KDP, and you’re good to go!

Pros and Cons of Using Payoneer for Amazon KDP

Just like any financial service, Payoneer has its ups and downs. Here’s a quick look at the pros and cons:

Pros

Easy Payments in USD: For authors outside the U.S., Payoneer provides a way to receive payments in USD without needing a U.S.-based bank account.
Lower Transfer Fees: Payoneer’s transfer fees are generally lower than international bank fees.
Currency Flexibility: You can hold funds in different currencies, making it easier to manage your money if you sell books in multiple regions.
Access to Prepaid MasterCard: This allows easy access to your funds, whether you want to withdraw cash or make purchases.

Cons

Fees Can Add Up: While Payoneer’s fees are reasonable, they can add up depending on your transaction frequency.
Verification Process: The verification process can take a few days, which might delay the setup for first-time users.
Not Available in All Countries: While Payoneer is accessible in many countries, there are still a few regions where it’s not supported.

Frequently Asked Questions (FAQ)

Q1: Is it safe to use Payoneer for Amazon KDP?

Yes, Payoneer is a widely used and secure payment platform. With a verified account and standard security practices, it’s a reliable option for receiving KDP payments.

Q2: Are there any hidden fees with Payoneer?

Payoneer’s fees are transparent and straightforward. While there are charges for things like ATM withdrawals and currency conversion, Payoneer’s pricing page outlines these fees clearly.

Q3: How long does it take to receive Amazon KDP payments via Payoneer?

Amazon typically disburses KDP royalties 60 days after the end of the month in which they were earned. Once Amazon initiates the payment, it usually takes 1–3 business days to reach your Payoneer account.

Q4: Can I use Payoneer in any country?

Payoneer is available in over 150 countries. However, there are a few countries where Payoneer’s services are restricted, so check availability in your location on Payoneer’s website.

Q5: Can I link multiple Amazon KDP accounts to one Payoneer account?

Yes, it’s possible to receive payments from multiple Amazon KDP accounts into a single Payoneer account.

Conclusion

Payoneer offers Amazon KDP authors a simple and flexible way to receive their royalties, especially if they’re outside the U.S.

It’s a straightforward solution that brings reliability, lower fees, and currency options, making it ideal for international authors who need an efficient way to get paid.

So, if you’re ready to streamline your KDP payments, consider giving Payoneer a try. The setup is easy, the benefits are clear, and you’ll be in control of your earnings with more options for accessing and managing your funds.

Are you ready to set up your Payoneer account and start receiving your KDP royalties effortlessly?