Hello. I was just wondering how long does it usually takes for current earnings to transfer from mturk to bank account. It started processing today. I tried looking for this information myself, but I found a number of mixed responses from instant to days. The responses also points toward "amazon payment" which wasn't an option for me under payment preference.
It usually takes 2 days total for me. 1 day from mturk to amazon payments, then another day from amazon payments to my bank.
Are you outside the US? I believe if you are, you only have the options of transfer payment to amazon credit (and I think they *just* added direct deposit to your bank. I think for new turkers they are trying to get rid of amazon payments as an option?). If you are in the US, you have to transfer from mturk to amazon payments (takes me about 6-8 hours), then withdrawal from there to your bank (which takes about an hour to process), and if it's before your banks cutoff time for that business day it should be in that night's ACH process which would hit whenever it is that your bank posts that incoming ACH payment. I do a daily transfer (monday-thurs, business days) before 9am. That will process the payment from mturk to amazon payments by 3-5pm. I then do a withdrawal from amazon payments (which takes up to an hour-ish) which will hit my bank's incoming ACH before their 6pm cut-off time for deposits. That gets my deposit same day into the bank. It appears later that night, or the next morning when my bank finishes the processing on their side.
That would explain why I don't see transfer "amazon payment". I live within the US and selected the option to directly transfer to the bank. By daily transfers, do you mean there's an option sooner than 3 days? The process seemed automatic for me in the preferences.
I think newer turkers that have the option of transfering to bank directly from mturk have a different limit. If you have the option of transfering to amazon payments, you can do it once per day. I don't have the option of transfering directly from amazon to my bank. I *have* to transfer first to amazon payments.
I think we'll all end up doing transfers directly from mturk at some point. They just in the last few weeks changed it for new turkers, and will probably force older workers to switch at some point.
That way seems more convenient, since all the payments gets processed all in one day. I guess I just happened to join during the transitioning phase, but thank you for clearing everything up!
Well, it is nice that if you time it right you can get it all processed in one day. But it takes effort to click buttons, and watch for completion emails by certain times and hope nothing lags behind in order to do it. It can easily spread over to the next day(s) especially if it's not a business day.
I'm sure they're just trying to make it easier/cheaper. You're right, you just joined during the transition phase. Those of us that got use to daily transfer are going to hate it when we are forced to switch. Glad you got it figured out!
I feel like that will depend on how long it will take for the processing to finish. By the looks of things, it seems like it might take 2 days at most. In that scenario, I would feel the old way of doing things is better.
It feels like Amazon is trying to monopolize the entire payment system for itself. Mturk is working with this giant company for nothing. Payments may be fast, but it's not necessarily safe. Especially when you realize that the history of transfers and search Amazon can use to their advantage (a bunch of their unnecessary ads later, for example). And it is more convenient to use a third-party recurring invoicing software to control what money is being moved and where.
