Hello there dear ClickBank affiliates and sellers. You should be aware that ClickBank has made a VERY important change to their payment schedule policy. Checkout the info below for more details:
New Payment Schedule Coming
2008-08-27
As part of our release of weekly direct deposit payments we will move all accounts to a new payment schedule (either weekly or bi-weekly). Starting with pay period Wednesday, September 17, 2008 all payment related activities – including the start and end of pay periods, period settlement, and payment distribution – will occur on Wednesdays.
For this reason, the first pay period of September, the transitional pay period, will contain an extra day. Rather than ending at 12:00:01 am Pacific time on the September 16, it will end at 12:00:00 am Pacific time on Wednesday September 17. We will include payment for this extra day in payments issued Tuesday, September 30.
Another effect of moving to bi-weekly payments is that clients who remain on the default schedule will receive 26 payments a year instead of the current 24 payments.
Clients Receiving Bi-Weekly Payments (Direct deposit and paper checks)This is the new default payment setting. No action is required to select bi-weekly payments. All clients will be switched to bi-weekly payments automatically.
Pay periods for accounts receiving payments bi-weekly end at 12:00:00 a.m. Pacific Time every other Wednesday. The first bi-weekly pay period of the new schedule ends Wednesday, October 1, 2008 at 12:00:00 a.m.
Period settlement occurs the Wednesday one week after the pay period ends. The first period settlement entry for accounts that receive bi-weekly payments occurs on Wednesday, October 8.
Payment distribution occurs the second Wednesday two weeks after the pay period ends. We will issue the first bi-weekly payment to clients on Wednesday, October 15.
To clarify the process for clients we have provided a visual representation of the payment schedule.
Clients Receiving Weekly Payments (Direct deposit only)To receive weekly payments you must elect this option in your account. We will provide more information on selecting weekly direct deposit payments once this feature is released. Clients electing to receive weekly payments will receive 52 payments a year.
Pay periods for accounts receiving weekly direct deposit payments end at 12:00:00 a.m. Pacific Time every Wednesday. The first weekly pay period of the new schedule ends Wednesday, September 24, 2008 at 12:00:00 a.m.
Period settlement occurs the Wednesday one week after the pay period ends. The first period settlement entry for accounts that receive weekly direct deposit payments occurs on Wednesday, October 1.
Payment distribution occurs the second Wednesday two weeks after the pay period ends. We will issue the first weekly direct deposit payment to clients on Wednesday, October 8.
To clarify the process for clients we have provided a visual representation of the payment schedule