Guide You How To Get Paid On Amazon KDP In Nigeria – Even if you live in Nigeria, a profitable topic, keyword research, copyright protection, appealing book covers, and appropriate pricing can help you earn $150 to more than $20,000 each month. Every year, around 2 million books are produced on Amazon KDP. Amazon pays publishers’ royalties via direct deposits, checks, and wire transfers 60 days after a transaction.
Because Amazon cannot make direct transactions to Nigerian bank accounts, with the exception of account numbers in a few countries such as the US and UK, there are certain restrictions on how you can use Amazon KDP to get paid if you live in Nigeria. Continue reading to learn more about how to get your Amazon royalties into your Nigerian accounts via Payoneer.
How To Get Paid On Amazon KDP In Nigeria
You can make money on Amazon KDP if you sell a book, have a verified Amazon Kindle Direct Payment (KDP) account, and have a bank account that Amazon can pay into. As a Nigerian self-publisher on Amazon KDP, you will uncover additional criteria as you proceed, such as validating your KDP account and activating a bank account that can accept Amazon direct deposits.
To earn Amazon royalties, you must have a top-tier country local account, such as a US or UK bank account.
To be clear, royalty payments cannot be received in your local Naira bank account. Payoneer is a simple way to open a bank account in the United States or the United Kingdom in order to collect Amazon royalties. Filling out your tax identity, on the other hand, is essential in order to validate your KDP account because Amazon would not transmit royalties without it.
There are two types of Amazon KDP royalties accessible to publishers. These are the 35% and 70% royalty programs, respectively. The 70% royalty bundle (available in the majority of English-speaking markets) will boost your Amazon KDP earnings potential. To be eligible for the 70% royalty package, your books must be priced between $2.99 and $9.99 and have secure copyright protection.
Plagiarism entails a severe punishment.
Every 60 days after the book sale, the 70% royalty plan pays you up to 70% of the price of each ebook you sell (or 60% if it is a paperback). That example, if you sell anything on January 1st, you will receive cash from Amazon 60 days later. The delivery price for paperback orders will lower your income; if you live in the United States, the delivery fee for ebooks is $0.15 per megabyte. Your royalties would be lowered by the minimum of $0.85 required by Amazon to publish a paperback edition of your work.
How To Obtain A US And UK Bank Accounts For Amazon KDP In Nigeria
Payoneer is an online payment gateway that you may use as a Nigerian utilizing Amazon KDP in Nigeria to get your Amazon payment and withdraw your earnings directly into your local Naira bank account. Continue reading to learn how to get a Payoneer account for free.
Please keep in mind that Payoneer receives a tiny percentage of every
dollar paid through Amazon KDP and any other foreign payment method. That being said, let us now look at how to open a Payoneer account in Nigeria and the conditions involved.
Requirements For Opening A Payoneer Account In Nigeria
A mobile phone or computer with an internet connection, proof of your residential address, such as a utility bill or bank statement, official identification, such as a driver’s license or international passport, and a local bank account are all required for Payoneer withdrawals. For your Payoneer registration to be successful, ensure that the name, date of birth, and other information on the documents match.
Processes For Creating A Payoneer Account In Nigeria, Step By Step
The following is a step-by-step approach to opening a Payoneer account in Nigeria:
- Go to https://www.payoneer.com/in/ and click the “Register” button.
- Choose between USD and GBP as your account currency, then fill out the registration form with the relevant information.
- Then, to confirm and activate your email, click the link that was provided to your inbox.
- You have now established a Payoneer account.
- After successfully creating your Payoneer account, log in and navigate to your dashboard to view information about your US or UK bank account.
How To Add Your Payoneer Us And Uk Bank Account To Amazon KDP
After you have your US or UK bank account, which must have the same name as your Amazon KDP account, you may now give the essential bank information. Remember that your US or UK bank account information is available on the Payoneer account dashboard.
The following are the steps to adding your US or UK account to Amazon KDP:
- Sign in to your Amazon KDP Account.
- Then, on your dashboard, click “Getting Paid” and “Receiving Account” from the burger app.
- On the next screen, enter the bank details from your Payoneer account.
- Your bank account has now been successfully linked to Amazon KDP.
Guide On How To Verify Your KDP Account In Nigeria
When your account number has been added and you have a valid Amazon KDP payment option, the final step is to verify your account by inputting your tax information.
Follow these procedures to collect your tax information as a Nigerian before upgrading your tax ID on Amazon KDP:
- To verify your TIN, go to https://tinverification.jtb.gov.ng/Template/TINVerification
- Choose Individual Taxpayer.
- Choose your birthdate.
- From the Select Criteria Dropdown, choose your preferred search criteria: TIN, NIN, BVN, or Registered Phone Number.
- In accordance with the search criteria in Step above, enter the relevant value.
- Check the reCAPTCHA box to prove you are not a robot.
- Click on the search button.
After completing the aforementioned procedures, use the information provided to fill out the “Tax Information” box
in the “My Account” section of your KDP account. Your Amazon account has now been confirmed successfully.
If you sell books, you can get Amazon royalties in Nigeria using Payoneer by linking your US or UK bank account to KDP and having your KDP account approved.