Recently, I received my first cheque from one of my affiliate network Commission Junction. The first question that pops out of my mind is what will be the bank charges? I do not have much luck finding the answer to this. It seems like hardly any Singaporean publisher wrote about the bank charges one can expect when he banks in a foreign check.

Here I have with me a USD$419.80 cheque to be deposited into my Singapore bank account. The cheque was deposited on 3 January 2008. I was told by the bank teller that it will take about 21 working days to clear and they were unsure of the bank charges from USA.

On 25 January, I receive the funds in my bank account. It is a shorter wait than expected. The bank converts USD$419.90 to SGD$594.65. The rate is quite close to the market rate.

Singapore Bank charges: SGD$10
USA Bank charges: SGD$11.16

The total bank charges were less than what I have initially expected. My advice is set a minimum threshold of about USD$500 before requesting a cheque payout.

I hope this information helps when you need to decide the amount to request payout.

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I hope everyone has a great start to the new year. For the past 2-3 months, I have been concentrating on my journey in affiliate marketing. Though the income is not fantastic at the moment, I have learnt a lot and definitely I will be sharing my experience here.

For those who might already know, I’m currently using two affiliate networks Commission Junction and Clickbank. If you want to find out more about the other affiliate networks to join, you can read my post “Affiliate Networks“.

This is my January 2008 income solely derived from affiliate marketing.
Commission Junction: USD$1347.97
Clickbank: USD$502.96

Total January 2008 earnings: USD$1850.93.

First month (November 2007): USD$596.92
Second month (December 2007): USD$2005.55

Please check back my blog often. I will be sharing my newbie experience with affiliate marketing.

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