How long is the settlement cycle for ordinary Amazon sellers? What are the payment methods of Amazon?

As the Amazon platform continues to grow, it takes longer and longer to open a store here. Amazon merchants must abide by the platform's rules after opening a store. How long is the settlement cycle for ordinary Amazon sellers? The following is the answer for everyone.

How long is the settlement cycle for ordinary Amazon sellers ?

14 days.

Generally speaking, Amazon will deposit the seller's sales revenue into the seller's bank account 14 days after you register with the seller platform. Subsequently, the settlement process is repeated every 14 days. Please note the following points:

1. The account balance is at least 25 yuan. Commission fees and customer refunds (if any) will affect the seller's balance.

2. In the Seller Central, enter your valid bank account information in China. For more information, see Bank Account Information. After the settlement is completed, Amazon will publish the settlement report in the "Reports" section of the Seller Central and deposit the sales proceeds into the seller's bank account via bank transfer.

It usually takes 6-10 working days for the funds to reach the seller's bank account from the time the bank transfer is made. Please note: public holidays will affect the remittance of funds, and the arrival time will be delayed by 6-10 working days.

It also depends on the payment method used. If you choose to pay online, the refund will generally arrive in your account 7 working days after the return. If you pay cash on delivery, the refund will be returned to the gift card after the return. Regardless of the delivery method, Amazon will notify you by email.

What are the payment methods on Amazon?

There are many ways to receive payments on the Amazon platform, such as Amazon Global Payment Service, PingPong, World First, Payoneer, Currencies Direct, etc.

1. Amazon Global Payment Service

Amazon has launched a global payment service, which has aroused heated discussions among many sellers. After activating this service, sellers no longer need to bind foreign bank cards or third-party accounts as payment accounts. They can directly receive global payments in local currency, and the payment can be deposited into the seller's domestic bank account within two working days at the earliest.

2. PingPong

PingPong is the first cross-border payment platform in China established in 2014, focusing on providing Amazon payment services for Chinese cross-border e-commerce.

3. World First

It is also relatively easy to open an account with World First (WF card). When you want to open a personal account, you only need to bring your personal ID card. For a company account, you need to submit your company's business license. It takes about 1-3 days. World First supports opening accounts in currencies such as GBP, EUR, USD, CAD, AUD, NZD and JPY.

4. Payoneer

Payoneer is a professional and efficient cross-border payment service that reduces the payment costs of professionals in cross-border e-commerce, traditional foreign trade, etc. Whether it is cross-border e-commerce, advertising alliances or freelancers, Payoneer allows payments to cross borders, time differences and currencies, and settle overseas funds at low cost, safely and quickly.

5. Currencies Direct

Currencies Direct entered China in 2016 to help cross-border platform sellers collect and settle foreign exchange. Currencies Direct works closely with world-class banks such as Deutsche Bank and Barclays Bank to provide platform sellers with payment accounts in US dollars, euros, pounds, yen, and Canadian dollars, and supports withdrawals in the original currency or RMB to the company, legal person, or any shareholder's personal bank account, which is quite flexible.

In the entire cross-border transaction process, the settlement method and time are very important links. As an Amazon seller, you need to understand these policies of the platform. At present, the Amazon platform has greatly shortened the time for payment, which is great news for sellers.

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