How to sign up for an Amazon seller wallet _ freely choose the withdrawal time and amount

Freely choose the withdrawal time and amount, and the new Amazon Seller Wallet is now online!

November 12, 2022

Contents:
1. Why choose Amazon Seller Wallet?
2. How do I sign up for the Amazon Seller Wallet?
Frequently asked questions

Exchange rates fluctuate frequently, affecting every seller. Recently, the RMB exchange rate against the US dollar broke “7”. This is also another time since August 2020 that we have entered the “7” era. As a cross-border e-commerce company, whether to seize the opportunity to exchange foreign exchange or wait for it to rise, how to increase profits has recently become one of the hot topics of discussion and concern among sellers.

Important notice

If you are currently waiting for the exchange rate to rise to meet your expectations before exchanging it for RMB withdrawals, today Xiaobian recommends Amazon's new one-stop cross-border payment tool — Amazon Seller Wallet (Amazon Seller Wallet) — to meet your needs for flexible redemption of Amazon revenue! Sellers can store local currency in the seller's wallet, choose the withdrawal time and withdrawal amount according to their own needs, and calmly control the account funds! Seller wallets are now online in the US, and more sites are continuing to be launched.

✔ Withdraw at any time, flexible operation

📍 Independent control of withdrawal time and withdrawal amount, and flexible control
📍 Check the estimated exchange rate and payment amount in advance, at a glance

Sales proceeds are credited to the Amazon seller wallet:

The Amazon US (Amazon.com) payment cycle is every 14 days, and the proceeds from your sales will be paid to your Amazon seller wallet account during the next payment cycle.

Select the withdrawal amount as needed:

You are free to choose when to withdraw and how much you want to withdraw according to your actual needs.

Initiate transfers independently:

When you decide to transfer the dollars in your Amazon seller wallet to the RMB receiving account, you can click “Start Transfer”, select the RMB account in the “Transfer to Account” drop-down box, and enter the transfer amount. At this point, you'll see the estimated RMB payment amount and the estimated exchange rate.

*The actual exchange rate may vary from the estimated rate and may change the final amount you receive.

Local bank accounts receive funds:

Amazon automatically converts and disburses funds in local currency through service providers, and can be delivered as soon as one business day. Your local bank account will then receive the funds.

✔ Seller platform, one-stop management

📍 Seller Central directly manages funds and transfers without redirecting to external websites to seamlessly manage your cross-border business and funds
📍 View, export, and download monthly statements for your Amazon Seller Wallet account anytime, easily and quickly

After the Amazon Seller Wallet becomes your default deposit method on the US site, you can view and manage the seller wallet under the main menu - Data Report - Seller Wallet. All functions such as transferring and withdrawing funds, and viewing or downloading statements can be operated directly in Seller Central.

✔ Secure payment collection, transparent compliance

📍 Amazon's consistent high standards of protecting the security of your account funds and sales data
📍 Cooperate with J.P. Morgan Chase Bank to ensure the compliance and safety of every receipt
📍 Use “tiered pricing” and have the opportunity to automatically upgrade to a more favorable rate every month

Seller Wallet registration is free, and there are no account management fees. Cross-currency withdrawals require payment of fees. The tiered rate is a tiered rate. The tiered rate is given a corresponding preferential rate based on the seller's net sales ladder within the past 12 consecutive months, and is automatically updated every month. The higher the net sales, the lower the rate.

Interested in seller wallets?Click the button below to learn more now!

Learn More

Step 1: Self-check your qualifications

Check the Seller Guidebook to check if you are eligible to register for an Amazon Seller Wallet.

Step 2 Complete registration in Seller Central

Follow the steps to fill in the registration information, upload the required materials, and submit for review. Once the review is approved, you can use the seller wallet.

Step 3 Set up a bank account

Set up a withdrawal bank account on the “Deposit Method” page, upload and submit the information required for bank account verification. After the verification is approved, the funds in the seller's wallet can be withdrawn to the bank account.

👉 WANT TO LEARN MORE?

Lock in the live broadcast on November 15, and the senior collection manager will explain the Amazon seller wallet in detail for you!

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❓ Q1: Can I use the Amazon Seller Wallet to manage my sales revenue outside of Amazon?

A: Currently, the Amazon Seller Wallet only supports the management of sales revenue on Amazon.

❓ Q2: Can I suspend the registration process for the Amazon Seller Wallet anytime?

A: Amazon Global Payments and Amazon Seller Wallet are two safe and convenient payment solutions launched by Amazon to help global sellers better manage their Amazon sales funds. In contrast, Amazon's global payment collection is more convenient, helping sellers use RMB to receive revenue from the top ten sites (US, Canada, Mexico, UK, Germany, France, Italy, Spain, Netherlands, and Japan) and deposit them directly into the seller's local bank account in China. However, when the seller uses an Amazon wallet, the seller can store the local currency in the Amazon seller wallet, and can independently choose the withdrawal time and withdrawal amount according to their needs.

❓ Q3: What is the difference between Amazon Global Payments and Amazon Seller Wallets?

❓ Q4: If I am an Amazon Global Payout user, can I continue to use Amazon Global Payments after signing up for the Amazon Seller Wallet?

A: Registering for an Amazon Seller Wallet will not invalidate your Amazon Global Payments Account. After successful registration, “Amazon Seller Wallet” will be designated as your primary deposit method, and your next sales proceeds will be automatically paid to your Amazon Seller Wallet account. Your previous bank account for Amazon Global Payments will be your secondary deposit method. You can choose to use Amazon Global Payments or Amazon Seller Wallet on the payee account management interface.

❓ Q5: Will my store sales be affected during the registration or verification process?

A: During the Amazon Seller Wallet registration or verification process, normal sales at your Amazon store will not be affected; unless Amazon discovers fraudulent or illegal activity in your store during this process, Amazon may suspend your Amazon seller account (including seller wallet).

❓ Q6: What is the exchange rate for RMB?

A: Amazon seller wallets are converted to currencies through service providers. You can check the estimated exchange rate before exchanging and withdrawing funds from the seller's wallet, and after the transaction is complete, you can check the actual exchange rate in the transaction history of the Amazon seller wallet. All rates are transparent and have no hidden fees.

New Seller Onboarding Guide Video

Before entering Amazon, please read the registration guide video, prepare relevant registration materials in advance, understand the specific registration process, and help you start a store smoothly!

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