Amazon's mobile payment system 1.75% fee
Aug 13, 2014, 11:37 am
#47
Suspended
Join Date: May 2010
Posts: 2,998
Aug 13, 2014, 11:43 am
#48
Join Date: Jun 2012
Posts: 86
from: https://payments.amazon.com/sdui/sdu...d=201491280#50
Will you file Form 1099-K for my account if I only exceed one of the two thresholds?
No. Unless you exceed both thresholds ($20,000 in gross payment volume and 200 transactions) we will not file Form 1099-K for you.
Will you file Form 1099-K for my account if I only exceed one of the two thresholds?
No. Unless you exceed both thresholds ($20,000 in gross payment volume and 200 transactions) we will not file Form 1099-K for you.
Aug 13, 2014, 12:00 pm
#50
Join Date: Jun 2012
Posts: 86
Aug 13, 2014, 12:04 pm
#51
Join Date: Oct 2013
Posts: 1,322
I read the user agreement and I couldn't find anything that would prohibit you from selling to yourself, or as mentioned, charging gift cards you have to cash those out. 1.75% isn't the worst thing in the world if you're getting good miles for them or to easily cash out gift cards, ie Ink at Staples 5x, no walmart near you.
Aug 13, 2014, 12:05 pm
#52
Join Date: Dec 2009
Location: BGM
Programs: HHonors Gold, Club Carlson Gold, Marriott Platinum, IHG Plat, Hyatt Plat
Posts: 771
I just signed up using a different email address than my normal AP & Amazon account and it worked just fine. I also ordered a reader and should be here Friday. I'll test it out to see what happens.
Also, don't forget that all of those 200 transactions and $20k numbers are per SSN. So, if you're accepting a single $1k payment from AP every month, you've "only" got 187 payments left to make and still be under the 200 limit. And if you're splitting those payments up to liquidate smaller gift cards, your "safe" number is even lower.
Also, don't forget that all of those 200 transactions and $20k numbers are per SSN. So, if you're accepting a single $1k payment from AP every month, you've "only" got 187 payments left to make and still be under the 200 limit. And if you're splitting those payments up to liquidate smaller gift cards, your "safe" number is even lower.
Aug 13, 2014, 12:17 pm
#53
Join Date: May 2013
Posts: 747
I just signed up using a different email address than my normal AP & Amazon account and it worked just fine. I also ordered a reader and should be here Friday. I'll test it out to see what happens.
Also, don't forget that all of those 200 transactions and $20k numbers are per SSN. So, if you're accepting a single $1k payment from AP every month, you've "only" got 187 payments left to make and still be under the 200 limit. And if you're splitting those payments up to liquidate smaller gift cards, your "safe" number is even lower.
Also, don't forget that all of those 200 transactions and $20k numbers are per SSN. So, if you're accepting a single $1k payment from AP every month, you've "only" got 187 payments left to make and still be under the 200 limit. And if you're splitting those payments up to liquidate smaller gift cards, your "safe" number is even lower.
Aug 13, 2014, 12:19 pm
#54
Suspended
Join Date: May 2010
Posts: 2,998
And while they claim they won't send the 1099, I don't believe there's anything preventing them from making a change to T&C and doing so in the future.
Aug 13, 2014, 12:25 pm
#55
Join Date: Jul 2006
Posts: 95
I could be wrong but i believe the 12 monthly AP payments wouldnt count towards the 200 transactions as they are payments to friends and family and not classified as a "sale"
I just signed up using a different email address than my normal AP & Amazon account and it worked just fine. I also ordered a reader and should be here Friday. I'll test it out to see what happens.
Also, don't forget that all of those 200 transactions and $20k numbers are per SSN. So, if you're accepting a single $1k payment from AP every month, you've "only" got 187 payments left to make and still be under the 200 limit. And if you're splitting those payments up to liquidate smaller gift cards, your "safe" number is even lower.
Also, don't forget that all of those 200 transactions and $20k numbers are per SSN. So, if you're accepting a single $1k payment from AP every month, you've "only" got 187 payments left to make and still be under the 200 limit. And if you're splitting those payments up to liquidate smaller gift cards, your "safe" number is even lower.
Aug 13, 2014, 12:28 pm
#56
Join Date: May 2014
Location: GSP
Posts: 129
Anyone know the cost of the machine or is it "free" if certain benchmarks are met?
To summarize so far:
1 Keep personal AP (under your SSN) separate AGC's @ $1,000 per month= 2.2% +2.7/3%..best deal out there!
2 Need bus AP using a REAL tax Id#which must be validated
3 The swipe machine.
4 AGC's purchased thru a portal @ something greater than 1.75%..quite doable(with Arrival+= 2.2%) say this deal is 3.2%
5 Swipe a "sale" to (2 above)
6 (2 above) deposits the funds into the bank and pays Barclay's
Questions: What's the best way to transact with the machine? Would each transaction be for the face value of the AGC? For amounts less than $1000 or as was suggested earlier 199 $500 increments? This is a lot of effort to avoid Wally and Simon and GCM! Transaction patterns will unwind this in a NY second.....much better to keep this small and steady if you're gonna try it......I think maybe one or two transactions per month between 1500 and 3000?
What about local sales tax reporting?
So many moving parts with Amazon calling all the shots....they can change terms whenever they like.....not good
To summarize so far:
1 Keep personal AP (under your SSN) separate AGC's @ $1,000 per month= 2.2% +2.7/3%..best deal out there!
2 Need bus AP using a REAL tax Id#which must be validated
3 The swipe machine.
4 AGC's purchased thru a portal @ something greater than 1.75%..quite doable(with Arrival+= 2.2%) say this deal is 3.2%
5 Swipe a "sale" to (2 above)
6 (2 above) deposits the funds into the bank and pays Barclay's
Questions: What's the best way to transact with the machine? Would each transaction be for the face value of the AGC? For amounts less than $1000 or as was suggested earlier 199 $500 increments? This is a lot of effort to avoid Wally and Simon and GCM! Transaction patterns will unwind this in a NY second.....much better to keep this small and steady if you're gonna try it......I think maybe one or two transactions per month between 1500 and 3000?
What about local sales tax reporting?
So many moving parts with Amazon calling all the shots....they can change terms whenever they like.....not good
Aug 13, 2014, 12:36 pm
#58
Join Date: Dec 2009
Location: BGM
Programs: HHonors Gold, Club Carlson Gold, Marriott Platinum, IHG Plat, Hyatt Plat
Posts: 771
Nowhere in the T&C does it say anything about it needing to be 200 "sale" transactions. Just says 200 transactions.
Aug 13, 2014, 12:39 pm
#59
Join Date: Dec 2009
Location: BGM
Programs: HHonors Gold, Club Carlson Gold, Marriott Platinum, IHG Plat, Hyatt Plat
Posts: 771
So, if I'm sending $1k in 12 transactions to my wife and she's sending them back to me, that's 24 of the 200 allotted transactions. So, now I'm down to 175 left to stay under the 200 number.
Aug 13, 2014, 12:56 pm
#60
Join Date: Jul 2006
Posts: 95