KDP is one of the publishing tools on Amazon that helps the authors to use to publish their books online. KDP helps an online book available on Amazon to Kindle readers. There are many features available in KDP like free file conversion, sales tracking, and many more tools that you may use to format such as textbooks and children’s books. You can update your book, work on script, book detail and the cover of the page as well. The self-publishing interface in KDP is very simple and easy to use.
Now, let us see the payment methods to the writers of the books from KDP. If you do not have a bank account, you will get mail for the checks. The checks from different countries will be with their respective currencies. You will need to carry the checks to a bank to cash them. Bank charges a fee to convert the foreign currency checks in local currency. While doing so you may pay more than what you get if it is from a small market. On the other hand if you have a bank account you do not have to pay a hefty fee to the bank.
With KDP on Amazon you can restrict sale of your book in certain regions anywhere in the world to avoid the small market or issues due to currency. But the book will appear on all Amazon sites, showing that your book exists.
Royalties are paid every month from KDP. You will receive different royalty payments from different location of Amazon where you have chosen your book to be distributed. The payment methods that are available from KDP are direct deposit, wire transfer, or check. These payment methods are based on the location of the writer’s bank. The bank may impose fees for some of the payment types. You can contact your bank to get the fee structure for the same while receiving payments from KDP.
If you choose the payment method, direct deposit which is also known as Electronic Funds Transfer (EFT), then you will be allowed to receive royalties you earned without any threshold before releasing the funds. This is more secure and environment friendly procedure than the paper checks which you will get in your local currency. In some countries like US, UK, and EU, there is a handling fee per check payment to authors for direct deposit.
Direct deposit is a solution to avoid the handling fee or any other processing fees associated with paper check or EFT as discussed above. As you sign up for direct deposit, your money get deposit in your account immediately irrespective of the amount and in local currency as and when royalties are earned.
While adding bank account, the name of author in the Publisher Information and the same in the bank account must be identical to avoid any duplicate and fraud cases.
Finally, even if there are many ways to get payment from KDP, direct deposit is the best solution to cut the cost and maximize the profit on Amazon.