Receive payment from Amazon KDP in Australia

If you’ve sold books on the KDP platform and the time has come to receive payment, having an account that can receive money in different currencies can come in handy.

In this article, we’ll look through the payment options Amazon KDP provides, how they all work and introduce a hassle-free option in the Wise Account which can enable you to receive payments like a local, even if you are based in Australia or overseas. Let’s jump right in.

What is Amazon KDP?

Kindle Direct Publishing — also known as KDP — is an Amazon service which enables anyone to self-publish digital books (ebooks), hardcover books or paperbacks for free. As a self-published book, you get to keep all the rights to your book and gain access to Amazon’s large selling platform.¹

How does Amazon KDP work?

To truly grasp the opportunity, we need to look at what is Amazon KDP and how does it work in practice. The platform is designed to be a self-service portal. As the author, you retain control over your book. You are the publisher. You upload your manuscript file (the text) and your cover file (the artwork). Amazon then lists your book for sale on their global marketplaces, including the Australian store (Amazon.com.au).

When a reader buys your eBook, it is delivered instantly to their device. When they buy a physical copy, Amazon prints it at a fulfillment center and ships it to the customer. You, the author, then receive royalty payments for those sales.

Can Australians Publish books on KDP?

Yes, Australians can set up KDP accounts, publish and sell their books on the platform internationally.

How to setup and get started with Amazon KDP publishing

Entering the world of Amazon KDP publishing requires preparation. Before you even approach the platform, your manuscript should be edited, proofread, and formatted correctly. Once your files are ready, the process is straightforward:

1. Set up your account: You will need to set up your tax and banking information so you can get paid. For Australians, this often involves providing your local bank details to receive electronic payments.

2. Create a listing: You will enter your book details, such as the title, author name, and a compelling description (blurb) that appears on the product page.

3. Upload content: Upload your interior manuscript and your book cover.

4. Set pricing: You choose the list price for your book. The platform will show you your estimated royalty based on that price.

Amazon KDP payout methods

Amazon KDP offers a host of payout possibilities. Here they are below. The full list based on your country can be found here:²

1. Check/Cheque
Payment via check/cheque can be made to the address you’ve entered in the Publisher information section of your KDP profile. Available for Australia.

2. Direct deposit or electronic funds transfer (EFT) to bank accounts
This is a payment option that transfers your money directly into your account and it is recommended by Amazon. Available for Australia only for sales on Amazon.com.au

Amazon states that you should confirm your local bank can receive international transfers.

3. Wire transfer
Wire transfers can be sent to a list of countries. Amazon claims that these transfers may be subject to fees associated with receiving wire payments or foreign exchange rates.

Payout frequency of Amazon KDP

Amazon claims:
“Royalties are paid every month, approximately 60 days after the end of the month in which the sale was reported (90 days for Expanded Distribution) as long as you meet the minimum threshold for payment.”

When do you receive payments from Amazon KDP?

• Check/Cheque - It can take up to 30 days for the check to reach the address in your KDP account once sent
• Wire payments - These payments can take 5–10 days
• Direct deposit - These payments can take 1–5 business days. This is the option if you are receiving USD payments from Amazon into your Wise Account

Wise Business: Simplify royalties across borders

For authors looking to keep their publishing income separate from personal funds, a Wise Business account helps smooth out the payment process. You can access local account details in US dollars, allowing Amazon to pay you via direct deposit rather than dealing with paper checks or potential wire transfer fees.

This flexibility means you can receive earnings like a local and hold multiple currencies in one place, giving you greater control over your international revenue as you grow your readership.

Account details offered by Wise Business

Now that we know how payment works on Amazon KDP, let’s see how a Wise Account can help you get around the hassle of opening a bank account in the US or receiving less than you earn with an international payment to your Australian bank account.

With a Wise Business account, you can order local account details in 10 world currencies including USD. These local USD account details work just like any regular account number in the US. Wise provided USD account details come with:

• account name — your name as it appears on your Wise account
• account number
• routing number(s)
• SWIFT code — for international payments from countries other than the US
• local US address — if your payer needs to include an address, use: Wise, 30 W. 26th Street, Sixth Floor, New York, NY, 10010, United States.

Here’s our guide on how to get local account details and what you can do with your USD account details.

Receiving royalty payments from Amazon KDP into Wise Business

You can use your Wise USD details to receive payments into your Wise account. You’ll have to choose direct deposits (ACH) to receive the USD payments for free as Wise charges a flat fee of $4.14 USD fee for USD wire transfers.

Once you receive money into your Wise Account, you can either spend it using a Wise Business Debit card which you can order for your account or transfer it locally in your local currency to your bank account.

Note: If you’re not a US resident, Amazon may ask for tax verification. Sign the document stating that you're a non-US citizen and not a taxpayer there. Your payments and new product postings will stay pending until you sign it and send it back to Amazon.

How to add your Wise account details to Amazon KDP

To add your Wise USD account details to your Amazon KDPaccount, you can sign in to your account and follow these steps:³

1. Click Your Account in the top right corner of your screen
2. In the Getting Paid section, enter your bank’s location. For Wise, select the United States
3. In the Account holder name box, enter your name as it appears on your bank account
4. Choose the type of account: Checking or Savings. For Wise accounts, select Checking
5. Enter your Wise Account number and verify in the second box
6. Enter the Routing number. This nine-digit code appears as the first set of numbers on the bottom of your checks. Your bank can also provide this anumber to you
7. Click Add then click Save at the bottom of the page

A Wise Business account allows users to can send, receive, and hold in multiple currencies. Experience hassle-free global transactions by transacting like a local business. Here's what you get with a Wise Business account:

• Free to register — Hold and convert between 40+ currencies. Send to 140+ countries
• Debit cards for you and your team, which you can use in 150+ countries
• Multi-user access for team members, with ways to control and manage permissions
• Pay up to 1,000 recipients at once with the Wise batch payments feature
• Integrate with your favourite cloud accounting solutions like Xero, QuickBooks, and more
• Get account details to receive in 8+ currencies for a one-time fee of 65 AUD

Sign up for the Wise Business account! 🚀

This general advice does not take into account your objectives, financial circumstances or needs and you should consider if it is appropriate for you.

Sources:

1. Start publishing with KDP
2. KDP payment methods
3. Amazon KDP edit bank account

Sources checked on: 05 October 2023