What Payment Options Do I Have
Payments options are USD check (US & Canada only), ACH (US only), PayPal, or wire transfer. By default accounts are set up as USD accounts. Per new regulations issued in August 2016 by Visa and Mastercard Europe, starting January 1, 2017 payments cannot any longer be made in EUR or GBP. Please contact vendors@bmtmicro.com for more information.
Vendors can choose wire transfer at the current wire transfer rate of $35.00 USD. [Your account must have a $300 min. balance.]
Payment minimums can be set for whatever amount you request. By default, wire transfers require a $300.00 balance. Payments are calculated each month, you can specify longer periods [ie: quarterly, bi-annually, annually, etc.]
To receive payments via wire transfer you can email or fax your information to: (910) 792-1889. You must include full bank name and address, ABA/SWIFT number, full name and physical address of the account holder as well as the account number.
To receive payments via PayPal, please send us your PayPal email address. Your PayPal account must be enabled to receive funds in USD. Please note: PayPal payments are limited to $5,000.00 per payment cycle. PayPal collects a fee for each transfer, which is currently at approximately 2% of the transfer total. This fee is deducted from the transfer total at the time of payment.
US vendors may request that your payments be handled via ACH direct deposit. ACH and Check payments come with a $2 payment fee.
All fees are subject to revision as required by increases or changes imposed by the banking system or our financial partners, such as PayPal, or others.
Please note: US Vendors must receive three payments via paper check before switching to ACH/Direct Deposit. You will be responsible for keeping your banking information up to date. Once an ACH payment is made, it cannot be traced or canceled. To start receiving your payments via ACH, please fax a copy of a voided check from the account you wish to be paid to: (910)792-1889 or mail to:
BMT Micro, Inc.
Attn: Jennifer Gibbins
PO Box 15016
Wilmington, NC 28408
Payments are made on the 1st of the month, with the exception of January 1st (the December balance is paid out on December 28th).
Any changes in payment information must be received by BMT Micro at least seven (7) days prior to any scheduled payment date.
If the payment date falls on a weekend on holiday, a delay in processing of the payment through the banks may occur. BMT Micro issues payments on each scheduled payment date, but cannot answer to any delays on the receiving end as caused by bank holidays or similar.
Payments less than the payment fees or established minimums (eg. $300 for wire transfers, $50 for PayPal or ACH) may be held until the payout threshold has been reached.
Vendors are responsible for their own income tax reporting. BMT Micro does not issue tax documents. All applicable transactions and payments can be found in the vendor account under “Account transactions”.
Vendors must always use their own and true payment information, including country of residence. Payments are not made to third party individuals or entities. Any attempt to falsify the vendor identity or information to appear from another region is not permitted and goes against BMT Micro’s Terms of Service as well as any good-faith business relationship. Any falsification or misrepresentation will result in the vendor account being closed and all payments held.