We now support using Wise to get your royalty payments!
(Wise used to be called TransferWise. Supporting TransferWise is something that some of our authors have been asking us to do for a long time!)
So, this means you can now choose whether you want to receive your Leanpub royalty payments via either Wise or PayPal.
With Wise, payments go directly to your bank account, so there is no intermediate step. Also, Wise supports payments to some countries where PayPal does not operate.
Perhaps best of all, Wise will convert your USD royalties into the local currency you choose, typically at a great rate! That's one reason we have made Wise the default royalty payment method for new author signups.
Wise is a fantastic choice if you are converting your USD royalties to another currency. You will almost certainly save money compared to receiving USD via PayPal and then converting either with your bank or when you withdraw it from PayPal. This is because Wise has excellent exchange rates to a number of currencies, including EUR, GBP and CAD. The full list of supported currencies is below.
To receive your Leanpub royalty payments via Wise, select Wise on your royalty payment settings page on Leanpub here:
If you choose to have Leanpub send you royalty payments via Wise, then the next time we send you a royalty payment, Wise will send you an email for you to sign in to your Wise account if you already have one, and give you the opportunity to sign up for a new Wise account, if you don't already have one.
You can also sign up for a Wise account any time here: https://wise.com.
You will need to give Wise your bank deposit information and go through a couple of confirmation steps, and then you will be able receive your royalties.
The way the currency conversion works is that you can specify the currency that Wise will convert your royalties into on your payment settings page on Leanpub. Then, when we send your royalties, Wise will do the conversion. (The full list of currencies supported is below.)
From our own perspective, here are three really good reasons for us to use Wise!
It means our authors get more money (especially when they are converting USD to some other currency), which makes them happier and makes Leanpub even better for them to use.
It reduces our fees when paying royalties. (PayPal charges us a fee to send royalties, and we just eat the cost.)
Now that we offer Stripe as a payment option, it saves us money if some meaningful percentage of our authors use Wise to receive their royalty payments instead of PayPal.
Those are among the important reasons that we are encouraging authors to use Wise.
Below is a link to an article where Wise explains which countries they do, and do not, operate in:
Below is a list of the currencies that Wise can convert your royalties into when paying you your royalties, provided you set your currency on your royalty payment settings page (at the time this information was added to this Leanpub Help Center article).
AED - United Arab Emirates dirham
ARS - Argentine peso
AUD - Australian dollar
BGN - Bulgarian lev
BWP - Botswana pula
CAD - Canadian dollar
CHF - Swiss franc
CLP - Chilean peso
CNY - Chinese yuan
CRC - Costa Rican colón
CZK - Czech koruna
DKK - Danish krone
EGP - Egyptian pound
EUR - Euro
FJD - Fijian dollar
GBP - British pound
GEL - Georgian lari
GHS - Ghanaian cedi
HKD - Hong Kong dollar
HRK - Croatian kuna
HUF - Hungarian forint
IDR - Indonesian rupiah
ILS - Israeli shekel
INR - Indian rupee
JPY - Japanese yen
KES - Kenyan shilling
KRW - South Korean won
LKR - Sri Lankan rupee
MAD - Moroccan dirham
MXN - Mexican peso
MYR - Malaysian ringgit
NGN - Nigerian naira
NOK - Norwegian krone
NPR - Nepalese rupee
NZD - New Zealand dollar
PHP - Philippine peso
PLN - Polish złoty
RON - Romanian leu
SEK - Swedish krona
SGD - Singapore dollar
THB - Thai baht
TRY - Turkish lira
UAH - Ukrainian hryvnia
USD - United States dollar
UYU - Uruguayan peso
VND - Vietnamese dong
XOF - West African CFA franc
ZAR - South African rand
ZMW - Zambian kwach
Related Article: Special requirements for royalty payments to India via Wise
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