|Ðð©'§ Network Marketing Information Library|
Online MLM Payment Forms - What Options Do You Have?
One thing to consider before you get serious with any online MLM program you're interested in joining is: how are you going to get paid?
You see, with online MLM programs of today, it's very possible that you may be the only person in your country joining a certain online MLM program and all your downlines reside in other countries across the globe. This holds especially true for some countries where internet access is not as common as in the US and most European countries.
In such condition, that certain online MLM program won't have a representative office in your country yet. This means your commisions will be paid directly from that online MLM company's head quarter.
Even if you live in the US or Europe and the online MLM company's headquarter is located in your country, it is still crucial to know the options you have in receiving the money you've earned as commision from them.
Generally speaking, there are four ways of online MLM commisions payments:
- Bank Transfer
Let's take a closer look at each of these payment methods in order of flexibility:
1. Bank Transfer
This is by far the most flexible payment form of online MLM commision payment. With this method, the MLM company orders their bank to deposit your money directly into your bank account by means of bank transfer.
Typical processing time from payment until money can be used is two days until 1 week.
With this method, you will receive your money within 1 week after the payment. Since the money is in your local bank, you have the liberty of spending it any way you like, just like you would with your "normal" income.
If your online MLM has this payment option, it is best to check if they charge any bank transfer fee and whether or not they will deduct it from your payment.
Writer's suggestion: Go for this option even if you have many other payment options. This is the best.
2. Pay Card
With this method, the MLM company will send you a Pay Card that functions as an ATM card that can be used in any ATM machine in any country that supports Visa/Mastercard transactions.
The most important feature of this method is: there is no delay between payment time until money can be used. The minute your payment is done, you can retrieve your money from almost any ATM in the world. One drawback though: for every money withdrawal transaction there is a typical withdrawal fee of around US$3 (this may vary from country to country and from bank to bank).
Only big online MLM companies can afford to this method, as Visa/Mastercard only accept reputable companies as their partners.
Writer's suggestion: Choose this method only if you don't have Bank Transfer option.
As "offline" as it may seem, check is still the most used form on online MLM commision payment until today.
With this method, your MLM company writes you a check for your commision payment and send it to you by postal service. If you live in a different country from the MLM company's headquarter and they send it using normal postage service, it can take anywhere from 2 - 8 weeks for the check to reach you.
When you finally receive the check, you must manually clear it at your local bank and that will take 1 to 6 weeks, depending on your country and your bank.
A typical case where you receive your check from another country is 3 weeks for delivery and 4 weeks for clearance. That leaves you with 7 weeks to live after payment before you can actually use your money.
Writer's suggestion: Avoid this method if you can. Its long and manual process doesn't make sense in the fast moving world of online MLM.
4. Paypal and other "virtual money" forms
If you have ever done transaction on eBay, then you must know what Paypal is. Paypal is an online payment method in which you can pay or receive "virtual money". To use this option you must have a paypal account, which can be opened at www.paypal.com. Paypal only accepts applications from a few countries in the world, so be sure to check whether or not your country is in their list of accepted countries before you try this option.
There are other "virtual money" payments than Paypa, but since they are more or less similar to Paypal, we will group them into this payment method.
With this method, your MLM company will send "virtual money" to your Paypal account on the payment date. The "virtual money" will arrive instantly in your account at the moment payment is sent.
If you plan to spend all of your commision payment online, then this payment option may be correct for you in some cases. You can use the virtual money money for shopping in online shops that receive Paypal.
This way you get to spend the money without having to cash it first. But if you want to use the money in cash, this method is even worse than check. Firstly, you have to notify Paypal that you want to cash the money and you they will send you a check with the amount of money in your Paypal account. The remaining steps are exactly as long and tedious as check payment described in point 3 above.
Writer's suggestion: Never use this option unless you want to spend all your commision money online in sites that accept Paypal.
- Of all those online MLM payment options, Bank Transfer is the best because it allows you the greatest flexibility with moderate waiting time from payment until money can be used. Even if you plan to spend the commision money online again, it is better to do the online transaction with your credit card then pay the credit card company with the commision money sitting in your bank account.
- If you need cash, Paypal is the worst method of payment to choose. It is limited to several countries only, and the process of cashing the "virtual money" is even longer than checks issued directly by MLM companies.
Now that you know your options, choose carefully.
You may copy, publish and distribute this article as long as it is not modified in any way and this resource box is included and the links are made active.
MLM versus Pyramid
Many people don't know the difference between MLM and pyramid, and I must admit sometimes the line between the two is very thin, but as a simple rule you can see the difference rather quickly by asking yourself the following question ?
How To Attract, Excite, and Convert Your Prospects
The Power of Marketing
Do You Really Want To Try Network Marketing?
Make no mistake it takes a unique skill set to become a successful network marketer. I have developed a list of questions that someone interested in network marketing can ask themselves to see if they are up to the challenge.
How I Made Network Marketing Work For Me
So you have been sold the dream. Your friend has come to you,
Child-like Confidence will Build Your Network Marketing Business
You learned most of what you know in your first few years of life. We can gain insight into improving our current situation by observing the behavior of young children. They believe in themselves, nothing is impossible. Their dreams and their reality mesh easily.
Why 95% of MLM or Network Marketing People Fail with Their Home Based Business
Every MLM or network marketing operation offers the same promises for their home based business of being easy to operate, no real skills required, huge earnings potential, retire on a rising passive income in as little as 5 years and have a greater quality of life with more time available for your family by having a home based business. Do the promises live up to the expectations? Yes but for only 5% of the candidates - 95% normally fail - WHY IS THIS? Here we debate some of the controversial reasons for this phenomenon.
Network Marketing Offers ? Which One Should You Pick?
Network Marketing is awesome! It's a powerful 75-billion-dollar-a-year industry, practiced all over the world! According to published data, of all the millionaires emerged in the last 10 years, approximately 10% of them earn their money through Network Marketing.
Get Started Now: Why the Time is Right for Internet Business
If you have long dreamed of getting your piece of the Internet business pie but have held off due to fear, lack of skills, shortage of money, or any other reason under the sun, now is the time to get going. There are four reasons why the time is right to get going on line: general acceptance of the Internet, maturity of on line resources, the abundance of resources on which to build a business and the fact that anyone can afford to start an Internet business now. Let's take a look at why this is so.
Network Marketing Does Not Only Build Serious Business, It Also Builds You
Network Marketing is an easy way for an ordinary person to build a massive worldwide business. The business you build is just like any other business but with many of the hassles removed.
The Two Main Factors For Success In A Network Marketing Home Based Business
People are a strange lot. People that are successful are often the biggest encouragers of others to help them also be successful. While unsuccessful or mediocre people usually discourage others from being successful. Mediocre people will say things like don't waste your time, or those things don't work. A large part of this negative attitude is because very few people want to see someone do better than themselves. It's like if they can't be successful they don't want their friends being successful.
MLM Success - For MLM Success, Its ALL About VALUE in Network Marketing
There is ONE Word in Network Marketing that prospects seem to be glued to when they are listening to a presentation, or even an approach about anything. It is the standard that all prospects measure anything they are looking at... and they are considering purchasing...
Network Marketing - Its All About Customers
Leadership, Visualization, Goal-setting, blah, blah...
Targeted MLM Leads: You Best Chance At New Prospects
Targeted MLM leads go directly to the heart for your best opportunity to expand your business. Leads are essential for any business to grow but sometimes in our lust for new business we find the leads we had were never true leads at all. In order to have the best chance for success, the leads we pursue must be interested in our opportunity and have expressed that interest in some form.
The Big Dream Life
It's 9:36 am when your eyes suddenly pop open. You sit up in bed with a smile on your face and thank God for all the many blessings he has given you and your family. After a yawn and a good stretch, you give your sleeping beauty (Wife) a kiss on the cheek then head to the kitchen. In no hurry, completely content and relaxed because you don't have the stress that 90% of America has called "A JOB". On the way to the kitchen, you find your little ones peeking around the corner in attempt to give Daddy a good morning "BOO". You decide to play along and act really surprised when they jump out even though this is the everyday routine. At this point, you see your wife walking down the hall with a smile on her face and greet her good morning with another kiss. You have breakfast with your family then head to the office (first door to the left). You check a few emails make a few calls then call it quits for the day.
Opt-in MLM Leads: An Overview
In multi-level marketing (MLM), or network marketing, the MLM business owner recruits other independent distributors into his or her network. These prospects are called MLM leads, because they have shown some interest in the business opportunity. One of the best ways to contact potential customers or recruits is via email. The MLM business owner, however, must take precautions against sending "spam" or unwanted emails to people that are not interested. Thus, opt-in MLM Leads are the best prospects to contact via email.
Network Marketing Success- The Top 3 Secrets of Network Marketing Success
What stops most people in MLM and Network Marketing? After studying this industry for over 20 years, and talking to thousands of folks, you learn a thing or two.
Network Marketing Companies
Network marketing companies are mushrooming up everywhere these days. It's really hard to distinguish between good, reliable network marketing companies and those that are just scams. And of course there are a lot of network marketing companies in between ? those that do have good intentions, but do not have a good track record, for whatever reasons.
Network Marketing Training- Secret MLM Recruiting Formula for Becoming 10 Feet Tall and Bulletproof
It happens everyday.
Network Marketing Evaluation - The Truth Factor
Network Marketing ? The Evaluation for Success.
Building Large Volume of Potentiel Customers is Critical
How many opportunities to expose people to your business do you miss everyday? Do the people you come in contact with regularly or randomly in your daily routine know about your business? If not, you're missing MANY golden opportunities to "fill your pipeline".
|Home | Site Map|
|Copyright © 2005-2007 - Ðð©'§ pcMedix Computer Group Help Sites. All Rights Reserved.|