I chose “0 rate”, but are cross-border payments really “0 cost”?

When planning to receive overseas funds, many Amazon cross-border sellers are often moved by offers such as “0 rate” on some payment collection products. However, many sellers are unaware that a “zero rate” is not equal to “zero cost”. In the complicated process of overseas repayment, there may be hidden charges that are not easily visible in some parts that are not easy to detect.

Seller A: I've always worked on the US website. I opened the Canada site and Mexico site this year, but I found that the new site always mismatched the money that came back to the domestic bank account on the seller platform.
Seller B: I have the same feeling as you, and I have set up more sites, and each site has to handle payments myself, which takes too much time and effort.

Some sellers that have entered three North American sites and used overseas third-party payment institutions may have opened a virtual US dollar bank account when opening the US site, and then continued to use the US virtual dollar account when opening the Canadian and Mexican sites.

However, in this case, some sellers may find that there is a certain gap between overseas income payments received from Canada and Mexico stations and the expected repayment amount. If this is the case too, then you're probably running into a “hidden fee” for cross-border payments!

To give you a more intuitive understanding of where “hidden charges” may occur, we've also specially prepared a comparison chart for you between Amazon's global collections and some third-party payment institutions. 👇

Assuming you have now opened three North American sites in the US, Canada, and Mexico, the repayment process is as follows 👇

As you can see in the figure:
👉 Amazon's global payments only go through one exchange, are charged only once, and the rates are very open and transparent.
👉 However, some third party payment institutions may go through two currency conversions, and there are two types of cumulative fees.

Obviously, although some third party agencies have lower rates, they may have problems that are not easy to detect, causing additional losses. Therefore, we also remind you to be extra wary of the following issues when processing overseas revenue refunds:

● Some third-party payment institutions with lower rates will incur “currency conversion fees” due to the need to “exchange local currencies such as Canadian dollars and Mexican pesos for US dollars”, causing more costs.

● When transferring funds from a virtual US dollar account to a domestic RMB account, you will also face “secondary remittance losses”!

● Since some third party payment institutions do not clearly communicate these potential charges, you may misunderstand that it is a normal exchange rate loss and a loss of profit in vain.

● Even if you discover this “hidden fee” and use multiple currency accounts to avoid additional cost waste, it will increase the complexity of fund management and take more time and effort.

Faced with the potential risk of hidden charges, is there a cross-border payment tool that can actually make the rates open and transparent?

I have to mention Amazon's global payout collection!As Amazon's own collection tool, Amazon Global Receipts will directly convert your overseas sales revenue into the local currency into RMB and deposit it into a domestic bank account to achieve one-stop management on multiple sites and ensure the openness and transparency of the entire process!Moreover, the rate uses a tiered pricing model. The larger the business, the lower the rate.

No hidden charges
Amazon's global collection rates are open and transparent, and there are no hidden charges at any point. You can also clearly check the payment rate and exchange rate details, so you can keep every penny in mind.

No secondary foreign exchange losses
Regardless of which of the ten sites you are on, Amazon Global Payments will directly convert your funds into RMB and deposit them into your domestic bank account without secondary remittance losses.

One-stop management
Amazon Global Payments already covers the top ten global sites, enabling you to manage multi-site payments in one stop on the Amazon Seller Platform, comprehensively evaluate the financial and operating data of different sites, better formulate global strategies, and accelerate business growth.

The bigger the business, the better
Amazon's global payments use a tiered rate+joint account method. The rate will be determined based on the seller's net sales at each Amazon overseas site. The larger the business, the lower the rate!Also, sellers can also connect Amazon North America, Europe, and Japan accounts through “Joint Account Linking Accounts”, and the rate will be calculated based on the sum of the net sales amounts of all 3 sites.

Amazon's global payments are not only transparent and cost-effective, but they also have irreplaceable advantages in terms of security and convenience.

Strict supervision, don't let repayments be at risk
👉 Direct deposit to a domestic bank account, no virtual bank account required
👉 Licensed service providers monitor compliance, and every transaction is traceable
👉 No transaction information authorization is required, and the information is not leaked

Easy management, no matter how many sites you have
👉 One domestic bank card can be used for multi-site repayment
👉 No need to go to a third-party platform, directly managed by the seller's back office
👉 Autopay exchange, no minimum withdrawal limit
👉 The fastest delivery time is 1 business day