One of the things we’re impressed by about DistroKid is how its constantly innovating. It seems like every week, we’re writing about a new feature that the ultra-low cost flat free music distributor has added. This week it’s the simple but important ability to decide how you get paid.
Distrokid already offers a unique payment-splitting service that makes it easy pay multiple collaborators and rights holders directly. Now, each one decide how they want to get paid. Instead of PayPal as the only option, Distrokid now has 6 choices. Here is as list and the fees charged by their banks and payment providers:
ACH (U.S. only) — Also known as “direct deposit.” The money goes straight into your bank account. This is how most employers in the U.S. pay their employees. Fee is only $1 per payment.
eCheck (U.S.) — This is like ACH, but reflects as a check in your bank account. $1.50 per payment.
eCheck (non-U.S.) — Same as eCheck above, but $5.00 per payment.
Check — That’s right! We can mail you a paper check. Old school, keepin’ it real. $3 per check.
PayPal — Fast, cheap, works in most countries. $1 plus 2% of the payment amount with a total ceiling of $2 in the U.S. or $21 outside the U.S. Amounts over $10,000 will be split into separate payments.
Wire Transfer (U.S.) — $15 per payment.
Wire Transfer (International in local currency) — $20 per payment.
Wire Transfer (International in USD) — $26 per payment.