In this article, you'll learn how to update your banking information to receive payments from Kobo Writing Life. Follow a step-by-step guide to update your bank branch details and provide your account information.
Table of contents
- Update your banking information
- General tips for inputting bank information
- Frequently asked questions
Update your banking information
Has your banking information changed since you created your Kobo Writing Life account? Do you need to correct your existing bank account information? Follow these easy steps to update the bank account you use to receive payment.
Please note that Kobo Writing Life sends payments via Electronic Fund Transfer (EFT). If you're unsure how to find the specific banking information we need from you, a quick chat with your bank can help clarify!
1. On your KWL portal, navigate to "Payment Information"
- From your Dashboard, click on the "My Account" dropdown at the top right.
- Select "Payment Information."
- Select "Edit" on the Bank Information preview at the bottom-right of the page.
Note: Please be advise that you cannot change your banking country or currency at this time. If your local currency isn't supported, we'll pay you in USD by default. Please ensure that your bank account can receive USD payments.
2. Enter bank branch details
- Next, you'll enter the specific code associated with your currency setting (like a SWIFT Code, Routing Number, or IBAN).
- The webpage will clearly tell you exactly what's needed for your chosen currency. Please see the table below for an explanation of these requirements, plus formatting tips!
- Enter the required code and click "Search branch locations."
Table: What info do I need based on my currency?
| Currency | Supported Region(s) | Special Requirements | Formatting Tips |
|---|---|---|---|
AUD |
Australia |
|
If your BSB code is less than 6 digits, add a "0" at the front. Example. If your BSB code is 5 digits (XXXXX), then enter as: 0XXXXX |
CAD |
Canada |
|
To find your routing code, combine your Institution code and you Transit code to form a 9-digit code. If it's only 8 digits, add a "0" as the first digit. Example. If your Institution code is YYY, and your Transit code is XXXXX, then enter your routing code as: 0YYYXXXXX |
EUR |
Euro Monetary Union Countries |
|
N/A |
GBP |
United Kingdom |
|
N/A |
HKD |
Hong Kong |
|
N/A |
NZD |
New Zealand |
|
*For the account number, if your bank provides a format like this: XX-XXXX-YYYYYYY-ZZZ then enter only: YYYYYYYZZZ into the bank account section of the portal. Tip: Remember to remove any dashes! |
USD |
USA, and countries where local currency isn't supported |
For USA Banks:
For SEPA Countries:
For Non-SEPA Countries:
|
*For USA banks, ensure you’re using the low value routing code for your branch. If you’re unsure whether a routing code is low value or high value, please contact your bank directly. |
3. Select your bank branch
- You will now see a list of search results, containing all the relevant branches of your bank.
- Find and click on the specific branch where you opened your account.
Note: You can filter by address, street name, or state, to narrow down the results. If there are too many results to display on one page, you will see page numbers below the results list to help you navigate.
4. Enter your account details
- Once you have selected your bank branch, you will be able to add your bank account number and account holder name.
- Make sure you double-check everything to make sure it's accurate!
- Finally, click "Save changes" on the right, and you're all set!
Note: When inputting your bank account number, please do not include any spaces or dashes.
General tips for inputting bank information
To help ensure your payments go through smoothly, keep these general guidelines in mind:
- Account Numbers: No dashes or spaces in the account number.
- Special Characters: Avoid special characters (like accents or non-English letters) in any input box.
- Bank Addresses: Provide a physical address for banks or street addresses; P.O. Boxes are not accepted.
- IBAN: An IBAN is required for European, MENA (Middle East and North Africa), Latin American, and Asia-Pacific countries.
- SWIFT Code: A SWIFT code is required for all countries except Canada and the USA (though it's still preferred for these countries).
- Romanize Addresses: For banks in China, Hong Kong, Taiwan, Indonesia, and Thailand, please Romanize addresses and names.
- Mexico: For Mexican accounts, the general format is BBB-TTT-AAAAAAAAAAA-C, where "AAAAAAAAAAA" represents your 11-digit account number.
Frequently asked questions
What if my bank branch isn’t listed in the search results?
If you can't find your exact branch, please select a different branch from the list to complete your banking information. Once you've done this, you can then email us, and we'll help update your branch address.
What if my bank doesn’t come up at all?
First, ensure you're using the correct routing or SWIFT code.
If you're in India, please search for your bank branch using your IFSC code.
If your bank still doesn't appear, please contact us for further assistance.
Can I be paid in my local currency?
We support payments in the following currencies: USD, CAD, GBP, EUR, JPY, AUD, NZD, and HKD. If your local currency isn't on this list, you will be paid in USD.
To receive payments from us you will need to have a bank account in one of these currencies. Here is a list of banks that we support: www.theswiftcodes.com.
Can I be paid through PayPal or Payoneer?
Unfortunately, we do not support payments to PayPal or Payoneer accounts at this time. Please be advised that invalid or unsupported banking information could lead to payment delays or third-party fees.
Our payment partner, Convera, uses local banks worldwide to send your earnings directly to you, free of charge, by utilizing their vast relationships with banks globally to issue payments to you through local banks within the country where your account is located. We are able to provide this service at this time without having to charge our publishers or authors any fees whatsoever - given the efficiency and cost-effectiveness of this service. While we're exploring additional payment options for the future, direct deposit remains our only method at this time.
To ensure you receive your royalties, please provide a valid bank account for direct deposit that can receive payment in the selected currency.