How is the settlement day calculated for Amazon Global Payment Service?

Settlement day calculation for Amazon Global Payment Service?

Receiving payments and settling accounts has always been a topic of concern for sellers. Today we will introduce how Amazon Global Payment Services calculates settlement dates and whether net income includes all global accounts. Keep reading~

1. Settlement Date

There are many differences between Amazon’s platform and domestic platforms like Taobao and Tmall, such as payment and shipping methods. Some sellers choose Amazon Global Payment Services, so how is the settlement date calculated?

Chinese domestic bank cards can be used to receive payments on the Amazon seller backend. It takes up to 2 business days for Amazon to transfer the money to Chinese domestic bank cards.

• Seller Must Read! Low-cost Registration Guide for Middle East VAT Tax ID is here!
• DankePay Safe and efficient payment services, opening up new paths for overseas growth | Case studies sharing
• [Stamp Duty] Detailed Explanation of Stamp Duty on Share Transfer and Conversion in Hong Kong Companies

2. Will there be a delay?

If you use Amazon Global Payment Services, will the time it takes for payments to be transferred to my bank account be longer? No. However, the first payment may be delayed up to 14 days after adding or changing bank account details.

3. Does it include all global accounts?

When charging based on sales, does my net income include all my global accounts? Yes, as long as your global sales account has already been associated. For example, in the past 12 months, a German seller earned $500,000 on Agreks_okg, $300,000 on Amazon.co.uk, and $300,000 on Amazon.co.jp. If the seller did not use a combined account, we will charge the following rates: US: $500,000 -> 1.5% UK: $300,000 -> 1.5% Japan: $300,000 -> 1.5% If the seller uses a joint account, the cost will be lower. It can save sellers $5,500. Total net income (US + UK + Japan) = $1.1 million -> 1.0%.

4. How to edit bank account?

For the bank of the Amazon marketplace in the country or region where you sell your products, please follow the steps below:

In the 【Settings】of the seller platform, select 【Account Info】, click on 【Bank Account Info】 in the【Payment Info】section, and on the 【Deposit Method】page, click on 【Allocation】in the section of the marketplace you want to change. Choose to use a new bank account. Fill in the required bank account information, making sure to accurately fill in all fields. Make sure you have read and agreed to the terms and conditions of the Amazon Global Payment Agreement, then check the checkbox to confirm. Finally, click 【Submit】.

(This article is compiled based on online information and is intended to convey more information, it does not represent the views and positions of Quan Maitong.)

We will continue to update BusinessDialogue; if you have any questions or suggestions, please contact us!