What does KYC review mean, and under what circumstances will it be triggered?

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What does KYC review mean, and under what circumstances will it be triggered?

An overview of the highlights of this article:
Help European sellers quickly understand what KYC audit means and under what circumstances KYC review will be triggered.
Time required to read this article: 5 minutes

For European sellers, in order to successfully enter Europe, please give priority to ensure that you have completed the qualification review required to enter the European site - Know Your Customer (KYC). So, what exactly is a KYC audit?Under what circumstances will KYC review be triggered?Xiaobian has compiled some information on KYC audits in a targeted manner to help you quickly understand seller qualification review (KYC).

What is KYC review?

According to European law, sellers who sell or continue to sell on Amazon Europe and obtain transaction proceeds are required to provide Amazon with company and personal details, that is, Know Your Customer (KYC).

KYC review and trigger mechanism

Question: I have registered a total of 14 sites. Does the European site trigger KYC and need to be managed? If not, will the site I'm running now be affected?

Answer: Generally, if you don't need to open the European site, then not completing the KYC review will not affect the operation of other sites; if you need to sell or continue to sell and receive transaction revenue on the European site, you must pass the KYC review.

Q: What is the difference between KYC review and second review?

Answer: The KYC review is a qualification review for sellers who sell on Amazon Europe. Sellers are required to provide information about themselves and their business to ensure compliant sales.

Depending on the actual situation of different sellers, not all situations triggering KYC audits are the same. Generally, there are three types:

● In the first case, most sellers enter the seller platform on the European site after completing registration and authentication, and confirm that all beneficiary information has been added, KYC review will be triggered immediately;

● The second situation is that some sellers need to provide more information for review when the store's account payment is close to a certain threshold after the sale.

● The third situation is when opening an after-sales store account to receive payments close to a certain threshold. If the seller has not triggered a full KYC review before starting the sale, they will also need to provide more information for review when the payment is close to a certain threshold after opening the store account. During the review process, if the receipt has not reached a certain threshold, the store can still sell normally, but when the store's receipt reaches a certain threshold, you may face sales restrictions until you can reactivate the store and restart sales after passing the review.

Q: Is there anything special to be aware of during the KYC review process?

Answer: When proofreading and supplementing identity information, please fill it out accurately and make no mistakes. Once the review is approved, please do not modify the Seller Central information at will unless necessary; any changes may re-trigger the review for verification.

The above are all the answers about what KYC audit means and under what circumstances it triggers KYC review. If you want to know more details such as KYC audit data, you can click “What is Amazon KYC audit data” for related details.

Note: The above information was published in December 2024. Follow the Global Store Opening website to keep up to date with the latest changes.

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!