Nowhere Else To Go

A 1-post collection

I learned something today

The nice folks at Smashwords control when I get my payment from them.

They take a percentage of the sales. That’s fine.

They hold my money in escrow until the end of the month. That’s peachy.

Then they charge me withholding fees for hanging on to my money before they deign to give me that money?

Of the $84.22 I had in escrow for them to give me, they charged $25.27, and handed me almost $60.

It’s a good thing I have a day job…

But let me get this straight:

  • they take a percentage off the top

  • I have no control of when I get my money from them

  • and then they charge me a fee for hanging on to my money

As I understand fiscal relationships, the delay in clearing a cheque comes from the banks gambling with that money before they give you a cut of the profits that looks exactly like the money one expects to get.

So Smashwords has my money and -I assume- they are making interest off of it in the meantime… then they charge me for doing that?

I think I found the fishhook in this deal.

Edit - It’s tax. I’m paying tax. I am derp.