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  1. #1
    Moderator Nabz's Avatar
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    Check more than $10K
    I deposited a check of more than 10K to my bank, and when the check was not cleared in time I asked my bank about it. They said that they have received a notice from US bank, stating that they have put a hold on it and they are asking for my business nature & purpose of payment.
    For affiliates getting payment more than 10K, how do you handle this?
    I'm new to this.

    Do I need to contact CJ to provide proof that I work with them ?

  2. #2
    Full Member id2k's Avatar
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    you will need to fill up a declaration form and faxt to cj...the form i guess is available with cj....

  3. #3
    ABW Ambassador netnow22's Avatar
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    hou u make 10,000?

  4. #4
    Affiliate Manager AffiliateBuddha's Avatar
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    it can't be the US bank that is asking this. must be in your country - currency regulations or something. in my third world country(your neighbor), all checks above 10K take 10-15 days extra to clear than checks less thank the said amount
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  5. #5
    Affiliate Manager AffiliateBuddha's Avatar
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    (the above post is assuming that...) you have already filed and sent a W8EN form to CJ, haven't you?
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  6. #6
    Moderator Nabz's Avatar
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    Quote Originally Posted by id2k
    you will need to fill up a declaration form and faxt to cj...the form i guess is available with cj....
    I don't understand. What is declaration form? Can any body please explain it ?

    Quote Originally Posted by AffiliateBuddha
    it can't be the US bank that is asking this. must be in your country - currency regulations or something. in my third world country(your neighbor), all checks above 10K take 10-15 days extra to clear than checks less thank the said amount
    The delay is not the point here. Its about proof of biz & payment.
    I read the notice which my bank received. It was from Habib Bank NewYork


    Quote Originally Posted by AffiliateBuddha
    (the above post is assuming that...) you have already filed and sent a W8EN form to CJ, haven't you?
    I did that long time ago. cleared more than 15 CJ payments without any problem, but its the first payment more than 10K, and the next check is also more than 10K which is currently waiting on my desk, and I don't want to deposit it until my previous check is cleared.

  7. #7
    Moderator Nabz's Avatar
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    Quote Originally Posted by netnow22
    hou u make 10,000?
    I don't know how to answer your Question.

  8. #8
    Affiliate Manager AffiliateBuddha's Avatar
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    Nabeel,

    I got my proof from your reply, CJ's bank doesn't need to know what you do -they have a pay order to pay you from CJ. They can't hold your payment. Besides, CJ banks with mellon bank.

    if my observation here is correct, Habib bank in NY must be the american arm of the pakistani bank you use. if your check goes into the pakistani bank, the amount might be routed through this Habib bank. most probably authorities in pakistan want to know why you are being sent so much money from america. they must be keeping a watch on all inbound USD flows in excess of $10,000 - maybe to stop the US funding terrorism in pakistan or something, they know their reasons best. you have no option but to give to YOUR BANK in writing the exact nature of your business, if possible, also the nature of CJ's business and that of some of your advertisers.
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  9. #9
    MasterMike HardwareGeek's Avatar
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    Your name is probably similar to someones name on a terrorist watch list, so the bank wants proof of who you are and where the money will go etc. unless you providethem with the information don't expect to see a dime, Happened to my cousin and it was the same bank that did the request and we live in NYC.

  10. #10
    Moderator Nabz's Avatar
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    A dumb question , what is the nature of my business ?
    Internet Marketing, Online Advertising, Webmaster, Affiliate Marketer, Web Publisher (As CJ call it) ?

  11. #11
    Full Member ADesertRose's Avatar
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    When I worked for the US Postal Service, there was a cap like that on money orders and such and it is basically a line that is drawn at which point they keep records of transactions to deter things like money laundering and such. It is a banking regulation which picks out random, nonsuspicious people by transaction amount alone. People would purchase just under the amount to avoid paperwork, which seems MUCH more suspicious than a payment from a legitimate company.

  12. #12
    notary sojac Herb ԿԬ's Avatar
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    I think Internet Publisher might work. That is our choice on tax forms for U.S. tax.

    I wonder if a local lawyer (there) would help, at least for the first claim.

  13. #13
    Full Member fg20878's Avatar
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    It's a pain. You just have to answer bank's questions and you will get the money.

    Quote Originally Posted by nabeelk
    I deposited a check of more than 10K to my bank, and when the check was not cleared in time I asked my bank about it. They said that they have received a notice from US bank, stating that they have put a hold on it and they are asking for my business nature & purpose of payment.
    For affiliates getting payment more than 10K, how do you handle this?
    I'm new to this.

    Do I need to contact CJ to provide proof that I work with them ?

  14. #14
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    I wish I could help you!
    Hi Nabeel,

    Congratulations on making such a good amount through affiliate marketing while living in Pakistan.

    I'm a newbie in affiliate marketing - just a starter - from Pakistan. I made a post in 'Introduce yourself' forum to get an idea about how it works for some one to do affiliate marketing while sitting in Pakistan, and 'Herb ԿԬ's' directed me towards you.

    After looking at some threads by you I have got an idea that it can work for me as well if I have dedication - is it?

    I hope your posts are gonna help me. Well, I wish you all the best in your $10k check and, by the way, I, too, love biryani!

  15. #15
    Resident Genius and Staunch Capitalist Leader's Avatar
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    There's a US reporting requirement that kicks in at $10k-or-over transactions. Habib Bank has probably been under increased pressure about it, too (a lot of banks in that region were sneaking txns through without reporting and the feds got all uptight about it a year or so ago...). Also any "unusual" transaction patterns will kick in extra requirements, too.

    It's a pain in the butt for banks, and (as you have found out) sometimes for customers.

    That said, the bank *should* pay up, once they get whatever forms they want. Although Hom. Sec. may have extra red tape for money going to Pakistan...

  16. #16
    Moderator Nabz's Avatar
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    Thanks for your help all.
    Will I have to do this every time I get a check more than $10K ?
    Is there any solution of it ? Like CJ send me 2 checks if a month's payment exceeds $10K

  17. #17
    ABW Ambassador Grumpy's Avatar
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    Hey Nabeelk! You can always ask CJ to send the check to me . I promise I will spend it wisely. Congrats by the way on reaching the 10K mark.

  18. #18
    Affiliate Manager AffiliateBuddha's Avatar
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    or to me .. hehe

    but if you ask CJ about the two check thing, do let me know! I'll ask CJ the same, that'll save me a lot of time in waiting for the checks to realize.
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  19. #19
    Moderator Nabz's Avatar
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    lol,
    Thanks Grumpy

    I will contact CJ regarding 2 payments. Hope this works. btw, I have also registered my company so that my work look more legitimate to banks, etc.

  20. #20
    Affiliate Manager AffiliateBuddha's Avatar
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    Registering your company was a wise thing to do. Did you know you could have a US company too? I'm not sure if it's legal to have one in your country, apparently your country needs to be a treaty partner with the US of some sort, but if it is, you could simply incorporate in delaware, get an EIN number and get a US bank account - you may have to physically go to the US to for the account. That'd make getting your money from CJ much faster than check payments - you'll be eligible for wire transfers, and might save you from a whole lot of tax, too! (if there is a no double taxation treaty between the US and Pak)
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  21. #21
    Moderator Nabz's Avatar
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    Good suggestion, I will look into it. About Tax, There is currently no tax on IT in my country

  22. #22
    Moderator Nabz's Avatar
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    The same Habib NYC bank put hold on my $13K check, and asked for my Passport Number. I never left Pakistan, so I didn't have Passport Number. I had to make emergency Passport just to provide them passport number.
    I already told them that I'm doing e-business, so they should know that a person don't have to be in US physically to do this business.
    How dumb these banks are!

  23. #23
    Affiliate Manager AffiliateBuddha's Avatar
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    The banks sure are dumb, but you don't have to live with that.

    You have the option of registering a company in the US, making a trip to the US and getting a bank account for that company with a well-known bank - and have CJ directly deposit the money over there(and write yourself checks of lesser value than 10K each time you need to withdraw money).
    OR
    you could also try and open a company in nearby India - which will be easier than opening a company in the US (because of the MFN treaty and stuff between Ind and Pak), most banks In India are very Informed about e-business and won't act so silly.
    OR
    Simply open an account with an American bank that has a presence in Pakistan - that should solve the issue quite instantly.
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  24. #24
    Full Member fg20878's Avatar
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    What a pain! Hey nabeelk, move to USA. Your problem will be solved.

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