I wrote a comment at www.ignorantsoup.com. My comment is awaiting moderation, so I decided to re-write here instead.
Since that Nuffnang is imposing a transaction fee of SGD$1 to cover costs like postage, cheques (which the bank charge us a transaction fee for), materials, and handling… then what the point of imposing a minimum cash-out?
I’m paying SGD$1 for all the admin costs, then I should have the right to cash-out even if I have a balance of SGD$1.01. By the way I have a balance of SGD$24.64 plus SGD$1 refund.
Why is Nuffnang still imposing a minimum cash-out? Is it because they cannot write a cheque of less than SGD$50? Hahaha..
Pick only one Nuffnang, minus SGD$1 Or minimum SGD$50 cash-out.
After I read xiaxue’s post about Nuffnang, is Nuffnang a scam? It is very-very feeling when I read the comment by Lee at www.techcrunch.com:
Read alsoComment no.87 by Lee
To understand the value of able to cash out at $50, we see how much Nuffnang receives by each cash out when they amend their TOS.
When a blogger cash out $100 in 2 cheques, Nuffnang receives $2 in fees which in actual fact is $1 bank charge and $1 into their pocket.
If they had not amend the TOS and withdrawal stays at $100, and a blogger were to cash out $100 in one cheque, Nuffnang receives $1 in fees which in actual fact is 50 cent bank charge and 50cent into their pocket.
You should withdraw it and forget about nuffnang like many others. According to some insider news, about 20% of singaporeans nuffnangers have left.
I think the problem is not being able to cash out. I think a few have been left in limbo where they are not at $50 yet but would like to cash.
Hi all,
The reason why there is a cash out point is because there are terms of credit from the advertiser. What this means is that the advertiser does not pay us immediatly after the campaign.
Typically, they pay us 30-90 days after the campaign. This is why I mentioned, in particular for the bigger bloggers, we actually pay out of our own reserves, before getting paid ourselves.
A $50 cashout is the lowest in the WORLD right now. It was enacted, mainly for the benefit of small bloggers to cash out sooner, and indeed is as far as I know the first in the world.
Every week I send out thousands of dollars of cheques. The accusation that Nuffnang is a scam or fraud, is a serious one, and one that I hope will desist. We are a legitimate company, that has a legitimate and great working relationship with many brands, including the Singapore Tourism Board, Nike, AirAsia, Twisties, F&N and so on.
As for the “insider” rumour that 20 percent of nuffnangers have left. This is simply untrue. The vast majority of Nuffnangers continue to give us their exclusive support, and our numbers continue to grow every day.
Thank you, and have a good weekend ahead!
Best regards,
Ming
$50 dollars cash out the lowest in the world? I doubt. For your field no, for other type of revenue sources such as clicking to earn, even a bigger no.
P.S I’m not bringing you down or anything but putting down facts that aren’t true with a tone that you are so damn sure of is simply not my style. Besides your direct competition advertlets is giving a 50 SGD cash out too. So I can be sure that Nuffnang isnt the lowest min cashout, perhaps ONE of the lowest.
Anyways, good luck with Nuffnang. It will continue to survive and will still do. However, the method your company runs is really in need of improvement. Think about this, if the advertisers get in contact with those blog owners themselves and come out with a contract, both the blogger himself and the advertiser wins. Basically it saves them the cost of paying the middle man which is of course “nuffnang”, “advertlets”, and even “adsense” or whatever. I don’t know how others feel but those are purely based on my opinions.
Hi Swiftworld,
Thank you for your perspectives.
As far as I know, Advertlet’s cashout treshold stands at $100 for Singaporean bloggers and 100RM for malaysian bloggers.
Nuffnnag Singapore’s treshold is $50SGD, Nuffnang Malaysia 50RM.
We do look monitor and take in what the blogosphere has to say, and some though not all feedback will lead to changes that will be implemented.
We thank all bloggers for their patience.
Best,
Ming
Advertlet yesterday change to $50 you dont know meh?
King: Actually, its always been RM100 for either Singapore or Malaysia. That means our cashout is threshold for Singapore SGD43.36, technically.
Ming: I take it you don’t have an Advertlets account, its okay…
so does it mean, we don’t get paid if the advertisers decided to cabut (run away)?
Ming > What has your term of credit with Advertiser got to do with cash out limit?
Whether you have received or not your money from advertisers, i can’t cash out if i do not reach $50. So there are no connection at all.
Your credit term with your advertisers are already covered by your policy of 30 days advance notice of withdrawal date.
I hope you see my point. And before you make a sweeping statement next time, you had better do your homework especially that of your competitor.
Josh > Just a suggestion.
If i were you, i would put out a live exchange rate of RM$100 into SGD$ on your portal. Because this is by far the lowest in the market and you should let potential customers know upon arriving at your portal.