Why switch to direct deposit? The direct deposit option makes you eligible for monthly payments (assuming you meet the $100 balance threshold) instead of quarterly payments for checks, and it allows for faster receipt of your royalties during quarterly payments as money is deposited directly into your bank account. This payment method is completely electronic, making it especially useful during times like this where you may have issues retrieving your physical mail or visiting a bank.
What Do I Need to Do?
First, log in to your SX Direct account. Go to “edit information” and then select “update payment method.” Here, you will be able to select your preferred payment method from various options, including U.S. or International direct deposits, paper checks, or payment via Cash App, Zelle, PayPal, or Venmo.
For U.S. Direct Deposits, you will need an image of a voided check. Please note, the name must be pre-printed on the check and exactly match the name (it can be company name) on your SoundExchange account.
For Cash App you will need to enable direct deposits by activating your Cash App Card. The Cash App Card is a free debit card connected to a Cash App account. Additional information on CashApp and Zelle is available here.
For all payment methods, you will be asked to provide and confirm information necessary to make the payments.
After you’ve submitted a request to update your payment method, our Support team will process and verify your account information. Please note, if you choose to opt in to direct deposit, we will process your submission as quickly as possible. Processing time is usually 30–45 days, volume permitting. For more information on how to update your payment information in SX Direct, view our blog post here.
How Our Payments Work
- Royalties are distributed monthly by direct deposit and quarterly, at the end of March, June, September, and December by check.
- Direct deposits are issued monthly for accounts with a balance of $100 or more, and quarterly for accounts with a balance of $10 or more.
- Quarterly checks are only issued when the royalties payable to you reach $100 or more. If your royalties due are less than $100, we hold them until they reach the threshold, at which time we will issue a payment.
The above information pertains to direct deposits to U.S. checking accounts. We also offer international direct deposit to Canada, UK, and Eurozone in local currency. Please contact customer service by email at [email protected] or by phone at 1-800-961-2091 (U.S.) or 202-803-8231 (international) for any questions or to learn more about direct deposit options.